Stay Informed and Stay Ahead: Market Watch, May 15th, 2024.
Wall Street Mid-Week Market Recap Edition
Market Highlights & Analysis: Indices, Sectors, and More…
- Economic Data: Inflation data cools, Consumer price index beats and Core CPI on consensus.
- Market Indices: DJIA (+0.88%), S&P 500 (+1.17%), Nasdaq Composite (+1.40%).
- Sector Performance: 10 of 11 sectors higher; Information Technology (+2.29%) leading, Consumer Discretionary (0.00%) lagging. Top industry: Independent Power and Renewable Electricity Producers (+5.35%).
- Factors: Broad based gains with Momentum and Growth leading.
- Treasury Markets: Bond yields lower, Bills outperform.
- Commodities: Silver, Natural and Unleaded gas outperform.
- ETFs: Bitcoin! 2x Bitcoin Strategy ETF (+14.86%) volume of 7.0M.
US Market Snapshot: Key Metrics:
Moving Averages: DOW, S&P 500, NASDAQ:
NASDAQ Global Market Summary:
Sectors:
- 10 of 11 sectors higher; Information Technology (+2.29%) leading, Consumer Discretionary (0.00%) lagging. Top industries: Independent Power and Renewable Electricity Producers (+5.35%), Household Durables (+4.34%), and Semiconductor & Semiconductor Equipment (+3.37%).
Factors:
- Broad based gains with Momentum and Growth leading. Momentum +20% YTD.
Treasury Markets:
- Bond yields lower, with the Bills outperforming.
Currency and Volatility:
- U.S. Dollar Index ^DXY: 104.28 (-0.73, -0.69%)
- CBOE Volatility ^VIX: 12.45 (-0.97, -7.23%)
- Fear & Greed Index: 60/TY 57/LY (Greed/ Greed)
Commodity Markets:
ETF’s:
- Biggest volume gainer: 2x Bitcoin Strategy ETF (+14.86%) volume of 7.0M.
US Economic Data:
- Inflation data cools, Consumer price index beats and Core CPI on consensus.
Notable Earnings Today:
- BEAT: Cisco (CSCO), Allianz ADR (ALIZY), Merck ADR (MKKGY), Mizuho Financial ADR (MFG), EON SE (EONGY), Dynatrace Inc (DT), Monday.Com (MNDY), Commerzbank AG PK (CRZBY), Copa (CPA).
- MISSED: Mitsubishi UFJ Financial ADR (MUFG), Sumitomo Mitsui Financial ADR (SMFG), Hoya Corp (HOCPY), Industrias Penoles (IPOAF).
Global Markets Summary: Asian & European Markets:
Central Banking and Monetary Policy, Noteworthy:
- Inflation Eases as Core Prices Post Smallest Increase Since 2021 – WSJ
- Bernanke Says BOE Has Shown Interest in Idea of Rate Projections – Bloomberg
Energy:
- IEA Lowers 2024 Oil-Demand Growth Forecast on Slow Start of the Year – WSJ
- Biden’s China Tariffs Leave Space For Key Solar Machinery – Bloomberg
China:
- US tariffs on China: what’s the real impact, and what could happen next? – South China Morn Post
