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AFTER MARKET UPDATE - MONDAY, NOVEMBER 4TH, 2019
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DOW |
+114.75 |
27,462.11 |
+0.42% |
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Volume |
951,747,680 |
+11% |
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Volume |
2,136,234,750 |
+4% |
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NASDAQ |
+46.80 |
8,433.20 |
+0.56% |
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Advancers |
1,771 |
62% |
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Advancers |
1,893 |
61% |
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S&P 500 |
+11.36 |
3,078.27 |
+0.37% |
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Decliners |
1,082 |
38% |
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Decliners |
1,227 |
39% |
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Russell 2000 |
+8.07 |
1,597.40 |
+0.51% |
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52 Wk Highs |
214 |
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52 Wk Highs |
248 |
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S&P 600 |
+8.39 |
988.81 |
+0.86% |
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52 Wk Lows |
11 |
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52 Wk Lows |
45 |
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Major Indices Hit New Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow climbed 114 points, notching its first all-time high since mid-July and now on course for its best one-year advance since 2017. The S&P 500 added 0.4%, while the Nasdaq Composite was up 0.6%. Advancers led decliners by a 3-2 margin on the NYSE and on the Nasdaq exchange. There were 104 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 81 on the prior session. New 52-week highs totals expanded and easily outnumbered shrinking new 52-week lows totals on the NYSE and on the Nasdaq exchange. The major indices (M criteria) are in a "confirmed uptrend" after enduring distributional pressure in recent weeks. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The Dow Jones Industrial Average hit a new record high.
Stocks finished higher Monday, with the Dow, S&P 500, and Nasdaq Composite all closing at record levels. U.S.-China trade optimism fueled the gains, as expectations remain elevated for a partial trade deal to be signed later this month.
On the trade front, U.S. Commerce Secretary Wilbur Ross commented over the weekend that Washington and Beijing are making “good progress” in negotiations, and that American companies should be provided licenses to conduct business with Chinese telecom giant Huawei Technologies “very shortly.”
Seven of 11 S&P 500 sectors closed in positive territory. Energy shares paced gains, jumping more than 3% as WTI crude rose 0.6% to $56.54/barrel. The laggards included the Utilities and Real Estate groups, each down at least 1.1%. In earnings, Berkshire Hathaway (BRKB +1.00%) after delivering profit and revenue figures above consensus forecasts. Despite positive quarterly results, Under Armour (UA -18.35%) fell on news the company is undergoing a Federal investigation of its accounting practices. In other corporate news, Wright Medical Group (WMGI +31.94%) after agreeing to be purchased by Stryker for roughly $4 billion. Shares of McDonald’s (MCD -2.72%) following the unexpected firing of its CEO.
Treasuries slumped, sending the yield on the benchmark 10-year note up six basis points to 1.78%. On the data front, factory and durable goods orders both fell more than expected in September, down 0.6% and 1.2%, respectively.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy, Financial, and Semiconductor Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.96%) and the Broker/Dealer Index ($XBD +1.56%) both posted solid gains and outpaced the Retail Index ($RLX +0.27%). The tech sector was mixed as the Semiconductor Index ($SOX +2.19%) outpaced the N | | | |
