Sector Investing

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Market Snapshot

https://www.briefing.com/stock-market-update

Dow 35921.23 -158.71 (-0.44%)
Nasdaq 15704.28 +81.58 (0.52%)
SP 500 4649.27 +2.56 (0.06%)
10-yr Note 0/32 1.554
NYSE Adv 1879 Dec 1405 Vol 762.4 mln
Nasdaq Adv 2718 Dec 1814 Vol 4.5 bln

Industry Watch
Strong: Information Technology, Materials
Weak: Communication Services, Utilities, Industrials

Moving the Market

-- S&P 500 closes little changed in tight-ranged session

-- Walt Disney (DIS) held back the Dow with a 7% decline on relatively disappointing earnings news

-- Treasury market closed for Veterans Day

S&P 500 closes little changed in lackluster session
11-Nov-21 16:15 ET
Dow -158.71 at 35921.23, Nasdaq +81.58 at 15704.28, S&P +2.56 at 4649.27

[BRIEFING.COM] The S&P 500 increased 0.1% on Thursday in a tight-ranged session. The Nasdaq Composite (+0.5%) and Russell 2000 (+0.8%) outperformed the benchmark index with decent gains, while the Dow Jones Industrial Average fell 0.4%.

Walt Disney (DIS 162.09, -12.36, -7.1%) was a heavy drag on the Dow, falling 7% after missing earnings expectations amid a sharper-than-expected slowdown in Disney+ streaming subscriptions. As for the broader market, there was a meager attempt to rebound from recent losses.

That was partly due to the lack of guidance from the Treasury market (closed for Veterans Day), the absence of economic data, an intraday turnaround in Amazon.com (AMZN 3472.50, -9.55, -0.3%), hawkish Fed expectations for next year, and a sense that the market was still overextended and needed more time to cool off.

Six of the 11 S&P 500 sectors closed higher, while five closed lower. The materials (+0.9%) and information technology (+0.5%) sectors finished atop the standings with modest gains, while the communication services (-0.5%) and utilities (-0.6%) sectors underperformed. No sector gained or lost more than 1.0%.

The Philadelphia Semiconductor Index (+1.9%), however, did put forth a strong rebound-minded performance with a 2% gain.

Rivian (RIVN 122.99, +22.26, +22.1%), meanwhile, stayed hot with a 22% gain following its strong IPO yesterday. Fellow growth stocks Affirm Holdings (AFRM 151.83, +18.30, +13.7%), SoFi Technologies (SOFI 22.97, +2.55, +12.5%), and Opendoor Technologies (OPEN 22.56, +3.04, +15.6%) rallied on pleasing earnings news.

Beyond Meat (BYND 81.93, -12.55, -13.3%) and Bumble (BMBL 38.56, -9.19, -19.3%), on the other hand, fell sharply following their earnings reports.

Outside equities, the U.S. Dollar Index advanced 0.4% to 95.18. -- its highest level since July 2020. WTI crude futures ($81.37/bbl, +0.20, +0.3%) inched higher after falling 3.5% yesterday.

Looking ahead, investors will receive the preliminary University of Michigan Index of Consumer Sentiment for November and the JOLTS - Job Opening report for September on Friday.

S&P 500 +23.8% YTD
Nasdaq Composite +21.9% YTD
Russell 2000 +22.0% YTD
Dow Jones Industrial Average +17.4% YTD

WTI crude futures inch higher after bad day
11-Nov-21 15:30 ET
Dow -124.07 at 35955.87, Nasdaq +88.87 at 15711.57, S&P +6.67 at 4653.38

[BRIEFING.COM] The S&P 500 is up 0.2% while the Russell 2000 continues to outperform with a 0.8% gain.

One last look at the sectors shows materials (+1.0%), financials (+0.6%), energy (+0.5%), and information technology (+0.5%) outperforming the S&P 500 with decent gains, while the utilities (-0.6%) and industrials (-0.4%) sectors lag with modest losses.

WTI crude futures settled higher by 0.3%, or $0.20, to $81.37/bbl after falling 3.5% yesterday.