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AFTER MARKET UPDATE - THURSDAY, NOVEMBER 7TH, 2019
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DOW |
+182.24 |
27,674.80 |
+0.66% |
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Volume |
962,699,570 |
-3% |
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Volume |
2,365,646,140 |
+2% |
NASDAQ |
+23.89 |
8,434.52 |
+0.28% |
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Advancers |
1,310 |
45% |
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Advancers |
1,597 |
51% |
S&P 500 |
+8.40 |
3,085.18 |
+0.27% |
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Decliners |
1,574 |
55% |
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Decliners |
1,522 |
49% |
Russell 2000 |
+4.45 |
1,593.99 |
+0.28% |
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52 Wk Highs |
173 |
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52 Wk Highs |
214 |
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S&P 600 |
+2.98 |
987.52 |
+0.30% |
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52 Wk Lows |
42 |
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52 Wk Lows |
91 |
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Leadership Improves as Major Indices Extend Record Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow jumped 182 points and the S&P 500 added 0.3% to push both benchmark indexes to close at fresh record highs. The Nasdaq Composite gained 0.3%. Decliners led advancers by an 8-7 margin on the NYSE, meanwhile advancing issues slightly outnumbered decliners on the Nasdaq exchange. Leadership improved as there were 70 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 38 on the prior session. New 52-week highs totals solidly outnumbered 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 rallied to a new record high.
Stocks finished higher on Thursday as optimistic trade headlines bolstered risk sentiment. China’s Commerce Ministry said that Washington and Beijing have agreed to rescind some existing tariffs in stages, citing recent progress on a “phase one” trade deal. White House officials also confirmed the roll back in the respective duties, but stocks pared some sharper early session gains after Reuters reported fierce internal resistance to the plans.
Amid the perceived “risk-on” sentiment, COMEX gold fell 1.6% to $1,469.00/ounce. Treasuries resumed their slump, with the yield on the 10-year note surging nine basis points to 1.91%, the highest level since August. On the data front, initial jobless claims came in at 211,000 in the most recent week. A separate report revealed consumer credit declined to $9.5 billion in September from August’s upwardly revised $17.8 billion figure. In commodities, WTI crude climbed 1.0% to $56.91/barrel.
Seven of 11 S&P 500 sectors ended in positive territory, with Energy stocks pacing the gains. In earnings, DISH Network (DISH +3.49%) rose after surprising analysts by adding subscribers during the last quarter. Fox Corp. (FOX +5.94%) rose following a 5% increase in quarterly revenue. Qualcomm (QCOM +6.32%) rose after topping analyst profit and revenue expectations, helped by a key licensing deal with Apple (AAPL +0.85%). Teva Pharmaceutical (TEVA +4.57%) following an improvement in the drugmaker’s full-year guidance. Online travel companies Expedia (EXPE -27.39%) and TripAdvisor (TRIP -22.41%) each slid more than 20% as both posted downbeat results.
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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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Financial, Networking, Semiconductor, and Energy Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.83%) and Broker/Dealer Index ($XBD +0.50%) each posted a modest gain, but the Retail Index ($RLX -0.95%) ended the session solidly in the red. The Networking Index ($NWX +2.02%) posted a solid gain while the Semiconductor Index ($SOX +0.70%) tallied a smaller gain, but | | | |