Stay Informed and Stay Ahead: Market Watch, April 9th, 2024.
Wall Street Early Week Edition
Market Highlights & Analysis: Indices, Sectors, and More…
- Economic Data: NFIB optimism index down from last month.
- Market Indices: DJIA (-0.02%), S&P 500 (+0.14%), Nasdaq Composite (+0.32%).
- Sector Performance: 9 of 11 sectors higher; Real Estate (+1.291%) leading, Financials (-0.50%) lagging. Top industries: Automobile Components (+3.10%).
- Factors: Small Cap Value lead on the day, Momentum +17.9% YTD.
- Treasury Markets: Shorter durations Bills fare better than longer term Bond/ Notes.
- Commodities: Natural Gas and Silver Futures outperform.
- ETFs: T-Rex 2X Long Tesla Daily Target ETF (+4.58%) on 5.8M in volume.
US Market Snapshot:
Moving Averages: DOW, S&P 500, NASDAQ:
NASDAQ Global Market Summary:
Sectors:
- 9 of 11 sectors higher; Real Estate (+1.291%) leading, Financials (-0.50%) lagging. Top industries: Automobile Components (+3.10%), Office REITs (+2.59%) and Automobiles (+2.02%).
Factors:
- Small Cap Value lead on the day, Momentum +17.9% YTD.
Treasury Markets:
- Bond yields fluctuated mostly down; shorter durations fared better adjusting marginally.
Currency and Volatility:
- U.S. Dollar Index ^DXY: 104.11 (-0.04, -0.03%)
- CBOE Volatility ^VIX: 14.98 (-0.21, -1.38%)
- Fear & Greed Index: 61/TY 55/LY (Greed/Neutral)
Commodity Markets:
ETF’s:
- Biggest volume gainer: T-Rex 2X Long Tesla Daily Target ETF (+4.58%) volume of 5.8M.
US Economic Data:
- NFIB optimism index falls short in March @88.5 down from last month’s 89.4. Big CPI Day tomorrow!
Notable Earnings Today:
- BEAT: Royal Gold (RGLD), PriceSmart (PSMT).
- MISSED: Norfolk Southern (NSC), WD-40 (WDFC), Neogen (NEOG).
Global Markets Summary: Asian & European Markets:
Central Banking and Monetary Policy, Noteworthy:
- BOJ Gov. Leaves Door Open to Future Rate Increases – WSJ
- Fed’s Bostic Sees One Cut, But Leaves Door Open to Changing View – Bloomberg
Energy:
- Wildfires Make Utilities a Tricky Investment. Just Ask Warren Buffett –WSJ
- Power Bills Will Keep Rising Even After the Fed Tames Inflation – Bloomberg
China:
- Gold Hits New High as Central Banks Ramp Up Purchases – WSJ
