tybs
US market Report
Boeing Busts Dow Win Streak As Bitcoin, Bond Yields, Bullion & Big Tech Rise
()=Additions
Early strength in China gave way to an ugly day for small cap tech after Friday's market vacation.
Spanish stocks lagged along with Germany's DAX as UK, Italy, and France ended unchanged. (can argue same here as Futures were down -95 just before open-the "same as it ever was volume rush took it to only down double-digits)
US Small Caps (Russell 2000) and Mega Caps (Dow Industrials) under-performed today as tech lifted Nasdaq and S&P.
AAPL bagged $200.00 for the first time since early November. (still has the same overhang in it ala a -27% drop in revs from China from earlier in the year)
Dow was weak due to Boeing (accounting for more than the entire point loss of the index).
(Strip out Boeing from the day and you have a mkt that did nothing today)
GE also tumbled.
(-5.19%)
At close: 4:00PM EDT
Volume 167,813,149
Avg. Volume 100,693,473
well over daily average
Treasury yields rose modestly on the day but failed to erase Friday's post-payroll yield drop (almost note huge Aramco deal likely weighed on TSY complex sentiment).
Investors flock to Saudi Aramco's debut international bond
https://www.reuters.com/article/us-saudi-aramco-sabic/demand-for-aramcos-bond-north-of-30-billion-falih-idUSKCN1RK0IK?feedType=RSS&feedName=businessNews
(BTW it is no coincidence that oil continues to rise in front of the Aramco Float….NONE)
10Y Treasury Note holds above 2.50%.
(cap #2-They have a little moar space here but the trend is towards negative yield, if you factor in inflation it is there already)
Bitcoin and Ethereum extended recent gains as Bitcoin Cash held the big surge.
Bitcoin tagged $5350 intraday before fading.
(What a crock of shit that is)
WTI just won't stop, but the dollar weakness spurred gains across commodity-ville today.
(Cap 3)
The S&P 500 Information Technology Sector reached a new record high today (taking out the Oct 3rd highs).
Gold gained modestly, with front-month futures back above $1300.
Finally, since October 3rd - the last time the S&P 500 was here - earnings expectations and macro-economic data have collapsed(see Cap#4-highlighted red arrows)
https://www.zerohedge.com/news/2019-04-08/boeing-busts-dow-win-streak-bitcoin-bond-yields-bullion-big-tech-rise
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
https://www.dailyfx.com/crude-oil
Any Unfamiliar terms please see:
https://www.investopedia.com/dictionary/
no problem. The oil thing is fairly obvious.
chek'em