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AFTER MARKET UPDATE - WEDNESDAY, NOVEMBER 27TH, 2019
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DOW |
+42.32 |
28,164.00 |
+0.15% |
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Volume |
724,463,680 |
-54% |
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Volume |
1,710,127,757 |
-29% |
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NASDAQ |
+57.25 |
8,705.18 |
+0.66% |
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Advancers |
1,795 |
62% |
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Advancers |
2,031 |
66% |
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S&P 500 |
+13.11 |
3,153.63 |
+0.42% |
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Decliners |
1,091 |
38% |
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Decliners |
1,031 |
34% |
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Russell 2000 |
+9.87 |
1,634.10 |
+0.61% |
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52 Wk Highs |
162 |
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52 Wk Highs |
225 |
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S&P 600 |
+4.42 |
999.99 |
+0.44% |
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52 Wk Lows |
23 |
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52 Wk Lows |
50 |
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Major Indices Post Modest Gains With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow added 42 points while the S&P 500 gained 0.4%. The Nasdaq Composite advanced 0.7%. Advancers led decliners by a 9-5 margin on the NYSE and nearly 2-1 on the Nasdaq exchange. Volume totals reported were lighter than the prior session on both major exchanges, indicative of lackluster institutional buying demand. Leadership improved as there were 82 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 77 on the prior session. New 52-week highs outnumbered new 52-week lows 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 Nasdaq Composite Index rallied for a new record high with a 4th consecutive gain.
U.S. stocks finished higher Wednesday as stronger than anticipated economic updates helped propel equity benchmark indexes to a fourth consecutive record finish. The data docket was highlighted by the first revision to third-quarter GDP, which showed that the U.S. economy expanded at an annualized 2.1% pace, higher than the initial reading of 1.9%.
A separate updated revealed U.S. durable goods orders unexpectedly rose 0.6% in October. The core PCE deflator, the Fed’s preferred proxy for inflation, ticked down to 1.6% in October, just below expectations of a 1.7% rise. An additional survey showed pending home sales declined 1.7% month-over-month in October, worse than the prior month’s downwardly revised 1.4% reading. Treasuries were weaker, with the yield on the benchmark 10-year note adding two basis points to 1.76%.
Ten of 11 S&P 500 sectors finished in positive territory with the Consumer Discretionary group pacing the gains. Communication Services stocks also outperformed as shares of Facebook (FB +1.53%) rose. Industrials lagged the broader market advance, with Deere & Co. (DE -4.30%) fell as weak forward guidance overshadowed a top and bottom line beat. In other earnings, Autodesk (ADSK +5.49%) rallied to a new all-time high after topping sales and profit estimates. H P Inc. (HPQ -1.35%) fell despite reporting its first uptick in revenue in six quarters. In commodities, WTI crude fell 0.5% to $58.11/barrel while COMEX gold slipped 0.4% to $1453.90/ounce.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Retail, Finaancial, and Oil Services Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.83%), Broker/Dealer Index ($XBD +0.65%), and Bank Index ($BKX +0.65%) posted unanimous gains on Wednesday. The tech sector had a positive bias as the Biotech Index ($BTK +1.16%) set a strong pace and the Semiconductor Index ($SOX +0.73%) and Networking Index ($NWX +0.27%) each ended the session | | | |
