Tue, 17th January 2017

Anirudh Sethi Report


Archives of “nasdaq 100” Tag

Overnight US Market :Dow closed + 60 points.Now 58 points away to kiss 20k

Stocks climbed Wednesday as Wall Street posted a second straight day of gains in the new year and the Dow once again approached the 20,000 milestone.

The Dow Jones industrial average ended up 60 points, or 0.3%, to 19,942.16. The blue-chip index rose has come close to topping 20,000 several times in recent weeks but each time it gets near has pulled back. The Standard & Poor’s 500 index rose 0.6% and the Nasdaq composite index gained 0.9%. Both the S&P 500 and Nasdaq are near their record closing highs.

Stocks maintained their gains following the release of the minutes from the latest Federal Reserve meeting that provided clues to why policymakers raised interest rates in December for only the second time since 2006 and forecast three rate hikes in 2017 instead of the two moves previously anticipated.

Fed officials said they might have to raise interest rates faster than anticipated to prevent rapidly falling unemployment and President-elect Donald Trump’s proposed fiscal stimulus from fueling excessive inflation, according to minutes of the Fed’s December 13-14 meeting.

Benchmark U.S. crude was up 1.8% to $53.24 a barrel in New York. It lost $1.39 on Tuesday.

Overnight US Market :Dow Closed +40 points

Stocks closed mixed Monday as the Dow hit a new all-time high and as oil prices jumped after several non-OPEC countries agreed to join the cartel in cutting output and as investors focused on interest rates. The S&P 500 and Nasdaq snapped 6-day winning streaks and retreated from record highs.

Investors were also focusing on interest rates as Federal Reserve  policymakers meet this week and most economists expect the Fed to announce a rate hike at the conclusion of the 2-day meeting on Wednesday.

The Dow Jones industrial average rose 39.58 points, or 0.2%, to a record close of 19,796.43, according to preliminary calculations. The Standard & Poor’s 500 index fell 0.1% to 2256.96,  after rising in early trading to set a new intraday record. The Nasdaq composite index dropped fell 0.6% to 5412.54.

Energy stocks got a boost as the price of U.S. benchmark crude oil jumped 2.6% to $52.83 a barrel as oil-producing countries outside of OPEC agreed to reduce production by 558,000 barrels per day. That comes after OPEC countries agreed in November to reduce production by 1.2 million barrels per day.

Overnight US Market :Dow closed +46 points ,S&P 500 up 13 points

U.S. stocks rose Monday as investors sent the Dow Jones industrial average to another record high. Banks put up some of the biggest gains, as did technology companies, which have been mostly left out of a post-election rally. Energy companies were higher as the price of oil reached its highest level since July 2015. Small-company stocks continued to outpace the rest of the market.

The Dow Jones industrial average rose 45.82, or 0.2%, to close at a record 19,216.31. The Standard & Poor’s 500 index gained 0.6% to 2204.71 and the Nasdaq composite index rose 1% to 5308.89.

Small-company stocks again outpaced the rest of the market as the Russell 2000 jumped 1.8%. Thanks to a big rally in November, the Russell is up 17% this year, or more than twice as much as the S&P 500. Smaller companies, which are more domestically focused than large multinationals, could stand to benefit more than larger companies from a pickup in U.S. growth.

Oil prices rose for the fourth day in a row. The gains Monday were modest, but oil prices haven’t been this high since July 2015. Benchmark U.S. oil rose 11 cents to $51.79 per barrel in New York. Brent crude, used to price international oils, gained 48 cents to $54.94 a barrel in London. The price of oil has surged since OPEC countries finalized a deal that will trim oil production starting in January.

Overnight US Market :Dow closed +89 points.S&P 500 Up 16 points.

U.S. stocks jumped Monday as all four major U.S. indexes closed at new record highs.

Stocks got a lift from energy stocks as the price of oil jumped. Investors are hoping that OPEC countries will soon finalize a deal that would cut oil production and help support prices. The start of the week once again brought several corporate deals, with companies in the energy and technology industry making moves.

The Standard & Poor’s 500 index rose 16.28, or 0.8%, to close at a record 2198.18. The Dow Jones industrial average gained 88.76, or 0.5%, to a record close of 18,956.69. The Nasdaq composite index gained 47.35, or 0.9%, to close at an all-time high of 5368.86.  The Russell 2000, an index of smaller companies, rose 6.59, or 0.5%, to 1322.23.

For the past couple of weeks, the main driver in markets has been the election of Donald Trump as the next U.S. president and bullishness about possible pro-growth fiscal policies. In general, his victory has helped stocks and the dollar but weighed on bonds. But slowly attention is shifting onto other matters, including next month’s widely anticipated interest rate hike from the Federal Reserve.

Also generating attention is the next meeting of oil ministers from the OPEC oil cartel on Nov. 30 in Vienna, Austria. Expectations are growing that the ministers will push through a production cut following an indication recently that one was on the cards. That’s helped buoy oil prices in markets.

Benchmark U.S. crude oil rose to its highest price this month. It gained $1.80, or 3.9%, to $47.49 a barrel while Brent crude, the international standard, rose $2.04, or 4.4%, to $48.90 a barrel in London.


Overnight US Market :Dow closed + 30 points

Stocks cut early losses and closed mixed Wednesday as investors continue to grapple with the trend of U.S. corporate earnings “beats” being offset by companies that fall short of forecasts continues to keep the broad market in its sideways pattern.

The Dow Jones industrial average rose 30 points, or 0.2%, to 18,199 after being down about 100 points earlier. Dow component profit beats from aerospace giant Boeing (BA) offset disappointing results from iPhone maker Apple (AAPL), which topped earnings estimates by a penny but clocked in its third straight quarter of declining revenue and its first full-year revenue decline in 15 years.

Boeing’s stock surged 4.7% and Apple fell 2.3%.

The broad Standard & Poor’s 500 stock index fell 0.2% to 2139 and the Nasdaq composite index slid 0.6% to 5250.

The broad market was also dragged down by another drop below $50 per barrel for U.S.-produced crude oil.

Overnight US Market -DOW Closed + 77 points ,S&P 500+ 10 Points

Stocks rose  Monday as investors seemed heartened by a flurry of activity in the mergers and acquisitions space.

The Dow Jones industrial average gained 77 points, or 0.4%, to close at 18,223. The Standard & Poor’s 500 index increased 0.5% to 2151 and the Nasdaq composite index jumped 1% to 5310.

The gains came despite a slightly negative investor reaction to AT&T’s $85.4 billion deal for Time Warner, which was officially announced Saturday.

But traders were pleased at the sight of Rockwell Collins’ $6.4 billion acquisition of B/E Aerospace. Shares of B/E Aeropsace (BEAV) shot up more than 15% as Rockwell (COL) fell 6%

Other deals included TD Ameritrade’s $4 billion acquisition of rival Scottrade.

Meanwhile, cell phone services provider T-Mobile (TMUS) raised its profit outlook after adding 2 million net new customers in the third quarter. The company beat S&P Global Market Intelligence expectations on earnings per share.

Overnight US Market :Dow closed -12 points.

Stocks closed mixed to modestly lower Thursday as traders await Friday’s key jobs report and digest oil’s climb back above $50 per barrel and a continued drop in the British pound on Brexit fears.

The Dow Jones industrial average fell 12.53 points, or 0.1%,to 18,268.50, according to preliminary calculations. At one point the blue-chip index was down as much as 118 points. The Standard & Poor’s 500 stock index was up 1.04, or 0.05%, to 2160.77 and the Nasdaq composite fell 9.17, or 0.2%, to 5306.85.

Stocks rallied Wednesday, ending a two-day losing skid, enabling the Nasdaq to climb within 0.4% of a fresh record high and putting the Dow and S&P 500 within 2% of their August peaks.

Wall Street is in a holding pattern ahead of the release of the September jobs report  Friday. Analysts are forecasting job gains of 170,000 to 175,000, following the creation of just 151,000 new jobs in August. A strong jobs report could give the Federal Reserve more reason to hike interest rates later this year for the first time in 2016. Low rates and borrowing costs have been a key driver of stock gains in the current bulll market, now well into its seventh year.

Rising long-term bond yields in the U.S. may also be weighing on stocks. The yield on the 10-year Treasury note jumped to 1.739%. Rates appear to be heading higher as odds of a late-year Fed rate hike remain firm.

Overnight US Market

Dow Industrials16836.11+98.58+0.59%
S&P 5001940.46+12.58+0.65%
Nasdaq Comp.4296.23+44.58+1.05%
Russell 20001153.94+22.72+2.01%
NYSE Comp.10845.86+69.08+0.64%
Nasdaq 1003776.95+33.36+0.89%
Dow Transports8140.08+61.26+0.76%
Dow Utilities551.60+4.15+0.76%

Internals were positive on better volume. Advances/declines were 7 to 2 on both exchanges, with up/down volume 3 to 1 on the NYSE and 7 to 3 on the Nasdaq. New highs/lows were 308/19 on the NYSE and 117/43 on the Nasdaq.

Leaders — Network (+2.90%), Disk Drives (+2.32%), Metals (+1.94%), Gold/Silver (+1.90%), REITs (+1.67%), Defense (+1.63%), Insurance (+1.26%), Comp. Hardware (+1.21%)
Laggards — Telecoms (-0.54%), Chemicals (+0.29%), Drugs (+0.36%), Airlines (+0.49%), Transport (+0.51%), Semis (+0.52%), Commodities (+0.57%), Oil Services (+0.61%)

An extensive visual representation of the day’s winners and losers can be found at Finviz.com.

Treasury Yields — 6 Month: 0.03 %,  2 Year: 0.27 %,  5 Year: 1.63 %,  10 Year: 2.58 %,  30 Year: 3.43 %

Energy Prices — Crude oil: $102.59/barrel,  Gasoline: $2.96/gallon,  Natural Gas: $4.70/mmBTU

US Dollar Index — 80.375

Precious Metals — Gold: $1253.20/ounce,  Silver: $19.04/ounce,  Platinum: $1439.00/ounce

ASR Note:  
Park your money at the ECB — and pay them for the privilege. What a world.

Overnight US Market

Dow Industrials16543.08+10.02+0.06%
S&P 5001892.49+4.46+0.24%
Nasdaq Comp.4154.34+22.80+0.55%
Russell 20001113.87+10.24+0.93%
NYSE Comp.10645.88+25.44+0.24%
Nasdaq 1003650.86+15.25+0.42%
Dow Transports7923.42+41.90+0.53%
Dow Utilities535.20+4.10+0.77%

Internals were positive, with volume around yesterday’s levels. Advances/declines were 7 to 4 on the NYSE and 2 to 1 on the Nasdaq, with up/down volume 7 to 4 on the NYSE and 8 to 3 on the Nasdaq. New highs/lows were 119/16 on the NYSE and 61/44 on the Nasdaq.

Leaders — Homebuilders (+1.91%), Biotechs (+1.49%), Disk Drives (+1.29%), Retailers (+1.09%), Broker Dealers (+1.04%), Software (+0.96%), Airlines (+0.94%), Transport (+0.87%)
Laggards — Natural Gas (-0.49%), REITs (-0.18%), Metals (-0.07%), Commodities (-0.03%), Comp. Hardware (+0.01%), Gold/Silver (+0.08%), Comp. Tech (+0.11%), Drugs (+0.20%)

Treasury Yields — 6 Month: 0.04 %,  2 Year: 0.34 %,  5 Year: 1.54 %,  10 Year: 2.55 %,  30 Year: 3.42 %

Energy Prices — Crude oil: $103.85/barrel,  Gasoline: $3.01/gallon,  Natural Gas: $4.37/mmBTU

US Dollar Index — 80.227

Precious Metals — Gold: $1294.90/ounce,  Silver: $19.50/ounce,  Platinum: $1486.00/ounce

Overnight US Market

Dow Industrials16514.37+65.12+0.40%
S&P 5001879.55+7.66+0.41%
Nasdaq Comp.4161.46+39.91+0.97%
Russell 20001155.61+13.30+1.16%
NYSE Comp.10602.31+42.96+0.41%
Nasdaq 1003588.80+28.86+0.81%
Dow Transports7734.90+48.71+0.63%
Dow Utilities542.82+0.04+0.01%

Internals were positive on better volume than yesterday. Advances/declines were 3 to 1 on the NYSE and 7 to 3 on the Nasdaq, with up/down volume 5 to 2 on the NYSE and 7 to 2 on the Nasdaq. New highs/lows were 128/4 on the NYSE and 70/12 on the Nasdaq.

Leaders — Biotechs (+2.97%), Broker Dealers (+1.56%), Drugs (+1.52%), Disk Drives (+1.46%), Retailers (+1.29%), Gold/Silver (+1.28%), Network (+1.15%), Insurance (+1.00%)
Laggards — Comp. Hardware (-0.61%), Metals (-0.24%), Defense (-0.16%), Oil (-0.13%), Oil Services (+0.02%), Utilities (+0.07%), Telecoms (+0.26%), Chemicals (+0.29%)

Treasury Yields — 6 Month: 0.05 %,  2 Year: 0.40 %,  5 Year: 1.73 %,  10 Year: 2.72 %,  30 Year: 3.50 %

Energy Prices — Crude oil: $101.69/barrel,  Gasoline: $3.09/gallon,  Natural Gas: $4.74/mmBTU

US Dollar Index — 79.891

Precious Metals — Gold: $1284.70/ounce,  Silver: $19.42/ounce,  Platinum: $1396.00/ounce

ASR Note:
The bounce lives — but Morpheus isn’t impressed yet: