“Empowering Your Financial Success”
Daily Market Insights: September 18th, 2023
Global Markets Summary:
Asian Markets and US Futures:
- Japan’s Nikkei 225: +1.10%
- China’s Shanghai Composite: +0.26%
- Hong Kong’s Hang Seng: -1.39%
- S&P Futures: -0.12%
European Markets:
- London’s FTSE 100: -1.05%
- Germany’s DAX: -0.56%
- France’s CAC 40: -1.39%
US Market Snapshot: Today’s Key Highlights and Trends:
- DJIA (^DJI): 34,624.30 (+0.02%)
- S&P 500 (^GSPC): 4,453.53 (+0.07%)
- Nasdaq Composite (^NASX): 13,710.24 (+0.01%)
- NYSE Fang+ (^NYFANG): 7,690.56 (-0.22%)
- Russell 2000 (^RUT): 1,834.30 (-0.69%)
Highlights:
- Index Performance: Major indices gained; NYSE Fang+ and Russell 2000 declined slightly.
- Sector Spotlight: S&P 500 sectors: Six rose; Energy led with +0.68%, while Consumer Discretionary fell -1.01%.
- Notable Sectors: Notable sectors showing strength included Technology Hardware, Energy Equipment, Insurance, and Household Durables.
- Stock Categories: IPO stocks surged 0.6%, Large Cap Growth and Momentum stocks rose 0.3%, High Dividend stocks fell -0.6%.
- ETFs: Gain-Energy Select SPDR Fund (^XLE), Direxion Daily Semi Bull 3x Shares (^SOXL). Loss – US Global Jets ^JETS, SPDR S&P Reg Banking ETF ^KRE.
- Market Volatility: CBOE Volatility (^VIX) saw a substantial 2.47% increase.
- Sentiment Check: Market sentiment, Fear & Greed Index (TY/LY), stood at 48/35, showing a neutral to slightly fearful stance.
Treasury and Currency:
- Yield Moves: US Treasuries showed mixed movements; 30-Year Bond decreased; Year Note slightly increased.
- US. Dollar Index (^DXY): 105.12 (-0.19%)
Volatility and Market Sentiment:
- CBOE Volatility (^VIX): 14.14 (+2.47%)
- McClellan Volume Summation Index: 895.78 (-1.64%)
- Fear & Greed Index (TY/LY): 48/35 (Neutral/Fear)
source: CNN Fear and Greed Index
Commodities:
- Gold Futures: $1,933.31 (+0.53%)
- Bitcoin USD: $26,823.00 (+1.10%)
- Crude Oil Futures WTI: $91.95 (+1.30%)
- Bloomberg Commodity Index: 107.40 (-0.06%)
Factor Charts:
- Gains: IPO stocks: +0.6%, Large Cap Growth: +0.3%, Momentum stocks: +0.3%
- Loss: Small Cap Value: -0.5%, High Dividend stocks: -0.6%
ETFs by Contract Volume:
- SPDR S&P 500 ETF (^SPY): +0.06%
- Invesco QQQ Trust (^QQQ): +0.25%
- iShares Russell 2000 (^IWM): -0.66%
- iShares iBoxx $High Yield Corp Bond (^HYG): +0.07%
- iShares MSCI Emerging Markets ETF ^EEM: -0.13%
- ProShares UltaPro QQQ (^TQQQ): +0.23%
Noteworthy:
- Energy Select SPDR Fund (^XLE): +0.85%
- Direxion Daily Semi Bull 3x Shares (^SOXL): +0.71%
- Credit Hedge ETF (^CDX): +0.31%
- iShares China Large-Cap (^FXI): -0.48%
- ProShares UltraShort 20+ Treas (^TBT): -0.86%
- US Global Jets ^JETS: -1.83%
- SPDR S&P Reg Banking ETF ^KRE: -1.88%
US Economic Data
- NAHB Housing Market Index September: 45 vs. consensus of 50, prior 50. Builder confidence in the single-family housing market has declined from the previous month, indicating that more builders adversely view conditions.
Earnings:
Q1 Insights:
- Q1 ’23: 79% of companies beat analyst estimates.
Q2 Insights:
- Q2 Forecast: Predicted decline of <7.2%> in S&P 500 EPS , Fiscal year 2023 EPS remained flat YoY.
Notable Earnings Today: n/a
Resources:
News
Company News/ Other
- Instacart Prices IPO at $30 a Share, at Top End of Expectation – WSJ
- Toyota Keeps Up the Push to Prove It Can Embrace New Technology – Bloomberg
Energy/ Materials
- Regulators Are Trying to Stop Greenwashing Before It Gets Worse – Bloomberg
Real Estate
- San Francisco Office Market Shows Signs of Life – WSJ
Central Banks/Inflation/Labor Market
- Why a Soft Landing Could Prove Elusive – WSJ
- US Core CPI Picks Up, Keeping Another Fed Hike in Play This Year – Bloomberg
Asia/ China
- China’s mixed bag: 4 takeaways from August as economic data tells complex tale – SCMP
