Afternoon Note
Major indices are struggling for direction as the Street awaits a slew of Federal Reserve speakers scheduled to speak today. Loretta Mester kicked it off at 12:00 ET.
The bigger companies are dragging down the Nasdaq with NVIDIA (NVDA), Advanced Micro Devices (AMD) among others down this afternoon. Technology is the worst performer while Materials -with gains from DuPont (DD) - leads the outperforming sectors.
Market breadth shows buyers are more determined than sellers, but chasing winners has become a mixed theme; hence, more new highs than new lows in only one index.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
2,014 |
2,571 |
Decliners |
794 |
1,502 |
New Highs |
75 |
86 |
New Lows |
36 |
103 |
Up Volume |
1.65 million |
1.83 billion |
Down Volume |
516.7 billion |
996.1 million |
Solid 3-year auction this afternoon, but it didn’t cause much movement in the market.
Comments |
I enjoy your comments above the market on the daily briefing. Thanks. Peter Tobias on 2/6/2024 2:06:43 PM |
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