MARKETS TODAY Dec 28 (Vica Partners)
DOW (^DJI) 32,876 (-366), S&P 500 (^GSPC) 3,7836 (-46), Nasdaq (^IXIC) 10,213 (-140), Russell 2000 (^RUT) 1,722 (-27), NYSE FANG+ (^NYFANG) 4,274 (-42), Brent Crude $83.26/barrel (-$1.07), Gold $1,805/oz (-$7), Bitcoin 16.5k (-162)
Session Overview
The Dow Jones Industrial Average fell 1.10% today, to close at 32,875.71 on thin Holiday trading volumes. The 10-year U.S. Treasury almost topped 3.9%, its highest level in 6 weeks. The Energy and Information Technology sectors were the hardest hit, down 1.91% and 1.66% respectively. Oil prices moved lower on concerns that rising Covid-19 cases in China could affect global demand while Apple extended its weekly losses and hitting a 52-week low, making it the worst performer of the Dow Jones Industrial Average index on the day.
Technicals/ Sector Performance/ Yields+
All 11 of S&P 500 Sectors lower; the best performing sectors were the Financials and Heath Care sectors, declining 0.61% and 0.65% respectively. The Energy and Information Technology sectors were the biggest laggards, down 1.91% and 1.66% respectively.
Yields continued to rise today: US – 2yr to 4.357%, 5yr to 3.973%, 10yr to 3.886%, 30yr to 3.975%
Greed Index Rating 31/ Fear+
U.S Economic News
- The Pending Home Sales Index (PHSI); pending home sales decreased for the sixth consecutive month, down 4.0% from October to 73.9 in November. Year-over-year, pending transactions dropped by 37.8%. Pending home sales recorded the second-lowest monthly reading in 20 years. An index of 100 is equal to the level of contract activity in 2001.
Other Asset Classes:
- CBOE Volatility Index (^VIX): +0.49 to 22.14
- USD index: +$0.28 to $104.46
- Oil prices after hours – Brent: -1.27% to $83.26, WTI: -0.31% to $78.65, Nat Gas: -10.85% to $4.70
- Gold: -0.39% to $1,805.41, Silver: -2.09% to $23.52, Copper: -0.23% to $3.83
- Bitcoin: -0.97% to $16.5k
In world news
- The easing of severe Covid-19 restrictions in China have implications for growth in the world’s second-largest economy after lockdowns disrupted global supply chains this year. The latest move comes from Hong Kong, where the government announced the removal of mandatory Covid-19 tests for inbound travelers.
Vica Momentum Stock Report
ONESPAN (OSPN) $OSPN. (Momentum Grade B+) (Value C+) 50 Day Average +20.48%, 100 Day Average +1.10%, 200 Day Average -10.86%, Year to Date -35.03%
OneSpan Inc. provides software services. The Company designs and develops security software and e-signature solutions which protects devices and financial transactions from fraud and misuse. It delivers risk analytics, mobile security and authentication services.
Market Outlook
Market Outlook and updates posted at vicapartners.com
