Afternoon Note
Major indices have a bullish bias following yesterday’s inauguration. Small-cap and mid-cap stocks are outperforming large-cap stocks, which is consistent with the market’s pro-growth view.
The Russell 2000 is leading the way up.
The 10-year treasury yield (TNX) dipped 3.5 basis points and fell below the 4.6% level.
The cyclical Industrials (XLI) sector is leading the way, while Energy (XLE) is the only sector trading lower.
Industrials are getting a boost from 3M’s (MMM) earnings beat this morning as well as a broader rally in the defense niche. This strength in defense names comes after President Trump pledged to send a mission to Mars during his term.
Quantum and space stocks are getting a big boost in volume and moving higher.
Electric vehicle makers such as Tesla (TSLA), Lucid (LCID), and Rivian (RIVN) are also seeing large volume, but to the downside, after Trump repealed many of Biden’s environmental and electric vehicle executive orders and withdrew from the Paris Climate Accords.
Market breadth is decidedly positive across the board.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
2,269 |
3,011 |
Decliners |
521 |
1,280 |
New Highs |
131 |
134 |
New Lows |
10 |
76 |
Up Volume |
1.54 billion |
2.73 billion |
Down Volume |
437.82 million |
1.83 billion |
Netflix (NFLX) is scheduled to report its fourth quarter results after the bell today. The Street is betting on strong subscriber growth as the streaming giant focuses on stronger content slate.
Tweet |
1/21/2025 1:33 PM | Market Braces for Trump’s Moves |
1/21/2025 9:45 AM | IT IS A NEW DAY |
1/17/2025 12:50 PM | Inauguration Anticipation |
1/17/2025 9:54 AM | SLOW ROTATION AND GOOD NEWS WAS GOOD NEWS |
1/16/2025 1:22 PM | Bouncy Ride |
1/16/2025 9:45 AM | TAKE THE MONEY & RUN |
1/15/2025 1:34 PM | Bank Stocks Surge |
1/15/2025 9:48 AM | MAYBE THE ROTATION TRADE HAS BEGUN |
1/14/2025 1:14 PM | Rebound Falters |
1/14/2025 9:48 AM | GOOD BOUNCE BACK |
1/13/2025 1:32 PM | Chipping Away |
1/13/2025 9:41 AM | THE GAME HAS BEEN ALTERED |
1/10/2025 1:10 PM | Under Pressure |
1/10/2025 9:41 AM | ALL EYES ON THE JOBS REPORT |
1/8/2025 1:34 PM | Anxiety in the Air |
1/8/2025 9:50 AM | NASDAQ IS A BEEHIVE |
1/7/2025 1:40 PM | Problematic Bond Market |
1/7/2025 9:48 AM | Stocks of The Future |
1/6/2025 1:26 PM | Continuing Friday’s Momentum |
1/6/2025 9:47 AM | LET 2025 BEGIN |
1/3/2025 1:34 PM | Friday Spark |
1/3/2025 9:28 AM | CATCH THAT PIGEON |
1/2/2025 1:10 PM | Bumpy Start |
1/2/2025 9:47 AM | THE NEW YEAR |
12/31/2024 9:45 AM | HAPPY NEW YEAR |
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