5/4/2021 10:47:59 AM GMT
Investors trade tech names for recovery names
It is the Growth vs. Value Play and yesterday – Value won.
ISM Prices Paid – Is it sounding the alarm bell?
Two FED speeches today…Evan’s and Mester – Listen to what they say.
Oil up 1.6% as demand surges, the 10 yr. stuck at 1.61%
Try the Pan Seared Pork Chops w/Caramelized Peaches.
Some stocks got off to a good start…. or as Tony the Tiger used to say – “That’s GRRRREEEAAATTTT!” as investors piled into the recovery names shunning almost everything technology…. leading to a break among the indexes……. If you happened to be a member of the Dow Industrials, the Dow Transports, the Russell or some of the S&P names you walked away feeling good about yourself….…..but if you were a Nasdaq name – oh boy….wasn’t your best day…..and while the broad Nasdaq index wasn’t beaten up that badly, there were a number of names that couldn’t get out of their own way – Mega-cap AMZN led the pack – after reporting astronomical numbers last week – and making a new all-time high – investors took another 81 pts or 2.3% out of it today, leaving it down 5% from last Friday’s official trading day high of $3557 and more than high 7.2% from the afterhours high of $3667 hit on Thursday evening after the earnings were announced. Facebook and Netflix also got hit falling 0.8% and 0.85% respectively.