Afternoon Note
All major indices sold off over 1% today, apart from the Dow Jones Industrial Average which is currently up 0.6%. The Nasdaq Composite is the largest decliner, currently down 2.76%.
Seven out of eleven sectors are in the green today with Consumer Staples (XLP) and Energy (XLE) leading the way. Technology (XLK) was the largest loser, it sold off significantly, down -3.63%. The big news driving this is the potential for harsher semiconductor trade restrictions on China.
Manufacturing Production came in at 0.4%, beating the consensus estimates of .2%. While durable manufacturing was unchanged, nondurables increased by 0.8%.
This is the biggest two month advance since 2021.
GDPNow from the Atlanta Fed is now up +2.7%q/q for Q2FY24, driven by a change in private inventories estimate.
Housing Starts came in at 1.353 M, rising 3% from the prior month and slightly above consensus estimates of 1.3M.
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10/17/2024 1:26 PM | Tech Boost |
10/17/2024 10:03 AM | HERE’S A SONG THAT WE’RE SINGING… |
10/16/2024 1:31 PM | Small Cap Outperforms |
10/16/2024 9:55 AM | CHIPS FALL |
10/15/2024 3:48 PM | The MoneyShow Orlando, October 17-19, 2024 |
10/15/2024 1:32 PM | ASML Weighs on Chip Stocks |
10/15/2024 9:51 AM | TECH NOT READY TO FADE |
10/14/2024 1:32 PM | Entering Earnings Season |
10/14/2024 9:52 AM | STARTING THE WEEK ON A NEW HIGH |
10/11/2024 1:55 PM | New Highs |
10/11/2024 9:53 AM | DOESN’T FEEL LIKE A RAGING BULL |
10/10/2024 1:41 PM | Anti-Climactic Day |
10/10/2024 9:31 AM | MELT UP WITHOUT HEAT |
10/9/2024 1:18 PM | An Apprehensive Market |
10/9/2024 9:57 AM | EMBRACE THE BEAUTIFUL |
10/8/2024 1:07 PM | NVDIA Saves the Day |
10/8/2024 9:51 AM | THE RAFT IN THE STORM |
10/7/2024 1:18 PM | Uncertainty |
10/7/2024 9:48 AM | NOT REAL? WHO CARES? |
10/4/2024 1:14 PM | Jobs Data Pushing Stocks Higher |
10/4/2024 9:58 AM | JOBS DAY (AGAIN) |
10/3/2024 12:47 PM | Oil Surges |
10/3/2024 9:38 AM | WAITING |
10/2/2024 1:23 PM | Holding the Pattern |
10/2/2024 9:34 AM | REIGN OF TERROR |
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