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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 4TH, 2019
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DOW |
+146.97 |
27,649.78 |
+0.53% |
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Volume |
934,384,460 |
+9% |
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Volume |
2,143,413,040 |
-7% |
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NASDAQ |
+46.03 |
8,566.67 |
+0.54% |
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Advancers |
1,977 |
69% |
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Advancers |
1,926 |
62% |
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S&P 500 |
+19.56 |
3,112.76 |
+0.63% |
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Decliners |
903 |
31% |
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Decliners |
1,183 |
38% |
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Russell 2000 |
+11.27 |
1,613.90 |
+0.70% |
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52 Wk Highs |
72 |
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52 Wk Highs |
79 |
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S&P 600 |
+7.78 |
985.29 |
+0.80% |
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52 Wk Lows |
14 |
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52 Wk Lows |
52 |
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Breadth Positive as Major Indicess Rose With Greater Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow gained 146 points, while the S&P 500 added 0.6%. The Nasdaq Composite rose 0.5%. Breadth was positive as advancers led decliners by a 2-1 margin on the NYSE and 3-2 on the Nasdaq exchange. The volume totals were mixed, higher than the prior session on the NYSE and lower on the Nasdaq exchange. Leadership improved as there were 28 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 8 on the prior session. New 52-week highs totals expanded and 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 posted a gain today after a 3-day pullback from its record high toward prior highs and its 50-day moving average (DMA) line.
Stocks finished higher Wednesday, rebounding from a three-day slide on renewed U.S.-China trade optimism. Reports suggested that Washington and Beijing are close to finalizing the amount of tariffs each side would rescind in a preliminary trade pact. Meanwhile, President Trump commented that the negotiations are going “very well,” despite previously suggesting that a deal could wait until after the 2020 U.S. presidential election.
On the data front, the Institute for Supply Management revealed that the pace of U.S. services sector expansion slowed last month. However, underlying components were mixed, with improvements in both new orders and employment helping to offset a sharp drop in business activity. Separately, the ADP reported that only 67,000 private payrolls were added in November, the lowest in six months and second-worst reading since 2010.
Treasuries erased the week’s gains, with the yield on the 10-year note up six basis points to 1.77%. In commodities, WTI crude jumped more than 4% to $58.40/barrel, notching its best day since mid-September on reports that “key members” of OPEC prefer deeper supply curbs ahead of tomorrow’s cartel meeting. Oil prices were also supported by larger-than-expected drawdown in U.S. crude stockpiles.
All 11 S&P 500 sectors closed in positive territory with Energy and Financials advancing at least 1%. In earnings, Salesforce.com (CRM -3.18%) after the business software provider reported a net loss during the third quarter. Human resources software company Workday (WDAY -4.67%) fell following a disappointing forward outlook.
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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, Tech, and Energy-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.79%) and Bank Index ($BKX +1.20%) both posted solid gains while the Retail Index ($RLX +0.17%) lagged. The tech sector was led by the Semiconductor Index ($SOX +1.55%) and th | | | |
