MARKETS TODAY Jan 11 (Vica Partners)
DOW (^DJI) 33,973 (+269), S&P 500 (^GSPC) 3,969 (+50), Nasdaq (^IXIC) 10,932 (+189), Russell 2000 (^RUT) 1,844 (+21), NYSE FANG+ (^NYFANG) 4,685 (+95), Brent Crude $82.94/barrel (+$2.84), Gold $1,877/oz (-$1), Bitcoin 17.5k (+$97)
Session Overview
The Dow Jones Industrial Average was up 0.80% today, closing at 33,973.01. The best performing sectors were the Real Estate and Consumer Discretionary sectors, up 3.12% and 1.94% respectively. Healthcare and Consumer Staples the laggards, up 0.27% and 0.28% respectively.
After yesterday’s advances, yields declined on the day. Defensive sectors – healthcare, staples and utilities underperforming. Consumer discretionary continues to be strong with the mega-caps rallying this week. Oil prices jumped on the day with Brent and WTI up more than 3%.
No key economic report news today as markets prepares relevant CPI/ pricing and jobs tomorrow. CPI is expected to be between 0.2%- 0.3% and up 6.5% annually, down from 7.1% last month. Jobless claim at 210,000 verse 204,000 prior month.
Technicals/ Sector Performance/ Yields+
The S&P 500 up +1.28% at 3970, as the index retested and held the 20/100d of 3,875 and moved ahead its 50d of 3,905. The index is trading just below it 200d moving average of 3,975. The next important technical level above is 4,100 which was the December high.
All 11 of S&P 500 Sectors were higher today;
The Dow Jones Industrial Average was up 0.80% today, closing at 33,973.01. The best performing sectors were the Real Estate and Consumer Discretionary sectors, up 3.12% and 1.94% respectively. Healthcare and Consumer Staples the laggards, up 0.27% and 0.28% respectively.
Yields all declining: US – 2yr to 4.216% -, 5yr to 3.655% -, 10yr to 3.534% -, 30yr to 3.658% –
Greed Index Rating 55/ Neutral+
U.S Economic News
CPI/ pricing and Jobs reports tomorrow
Other Asset Classes:
- CBOE Volatility Index (^VIX): +0.55 to 21.13
- USD index: +$0.03 to $103.27
- Oil prices – Brent: +3.55% to $82.94, WTI: +3.38% to $77.66, Nat Gas: +1.54% to $3.69
- Gold: -0.02% to $1,876.86, Silver: -0.86% to $23.41, Copper: +2.51% to $4.18
- Bitcoin: +0.56% to $17.5k
News
- US Commerce/ U.S. air travel rumbles back to life after FAA computer outage Reuters
- US Health/ U.S. extends public health emergency status for COVID Reuters
- US Energy/ Biden’s climate agenda has a problem: Not enough workers Reuters
- World Energy/ Cnooc Lifts Spending to Raise Energy Supply as China Reopens Bloomberg
- World Company/ Tesla nears deal to build production facilities in Indonesia Reuters
Vica Momentum Stock Report
Sociedad Quimica y Minera (SQM) $SQM. (Momentum Grade A-) (Value A) (Growth A+) 50 Day Average -11.39%, 100 Day Average -10.38%, 200 Day Average -0.48%. Year-to-Date +5.61%
Sociedad Química y Minera de Chile is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium and industrial chemicals. It is the world’s biggest lithium producer. SQM’s natural resources and its main production facilities are located in the Atacama Desert in Tarapacá and Antofagasta regions.
Market Outlook
Market Outlook and updates posted at vicapartners.com
