MARKETS TODAY Dec 29 (Vica Partners)
DOW (^DJI) 33,221 (+345), S&P 500 (^GSPC) 3,849 (+66), Nasdaq (^IXIC) 10,478 (+264), Russell 2000 (^RUT) 1,767 (+45), NYSE FANG+ (^NYFANG) 4,443 (+168), Brent Crude $82.26/barrel (-$1.00), Gold $1,815/oz (+$9), Bitcoin 16.6k (+61)
Session Overview
The Dow Jones Industrial Average was up 1.05% today, closing at 33,220.80 following better than expected unemployment claims pointing to inflation recovery. The best performing sectors were the Communication Services and Information Technology sectors, up 2.70% and 2.67% respectively. Tesla (TSLA) was up +8% on the day as Morgan Stanley affirmed its overweight rating. Yields were soft today but hold strong weekly gains.
Technicals/ Sector Performance/ Yields+
All 11 of S&P 500 Sectors higher;
The best performing sectors were the Communication Services and Information Technology sectors, up 2.70% and 2.67% respectively. The Energy and Information Technology sectors lagged and were up, 0.75% and 0.81% respectively.
Yields moderately declined: US – 2yr to 4.367%, 5yr to 3.95%, 10yr to 3.83%, 30yr to 3.914%
Greed Index Rating 36/ Fear
U.S Economic News
- Initial jobless claims; first-time claims for weekly unemployment benefits increased to 225,000 for the week ending December 24th. That’s up 9,000 from the previous week and in line with Economist’s forecasts.
- Continuing claims; increased to 1.71 million for the week ending December 17, up from 1.67 million. That’s the highest level in 10 months and close to pre-pandemic filings at 1.8 million.
Other Asset Classes:
- CBOE Volatility Index (^VIX): -0.68 to 22.46
- USD index: -$0.56 to $103.91
- Oil prices – Brent: -1.20% to $82.26, WTI: -0.43% to $78.62, Nat Gas: -2.58% to $4.56
- Gold: +0.51% to $1,815.10, Silver: +1.46% to $23.89, Copper: -0.26% to $3.83
- Bitcoin: +0.35% to $16.6k
In world news
- Exxon sues EU in move to block new windfall tax on oil companies Reuters
- US imposes Covid testing for visitors from China BBC
- People rush to book travel as borders finally reopen BBC
Vica Momentum Stock Report
Clean Harbors (CLH) $CLH. (Momentum Grade B) (Value A) (Growth A) 100 Day Average +2.52%, 200 Day Average +8.30%, Year to Date +14.81%
Clean Harbors, Inc. is a leading provider of environmental, energy and industrial services in North America, wherein it operates the largest number of hazardous waste incinerators, landfills and treatment, storage and disposal facilities. It provides a range of services which include hazardous waste management, emergency response, industrial cleaning and maintenance, and recycling services. Clean Harbors is the largest re-refiner and recycler of used oil globally.
Market Outlook
Market Outlook and updates posted at vicapartners.com
