SPX, NDX, Semiconductors Pause on Friday after INTC Weak Guidance...Energy, Health Care, Consumer Staples Lead Sectors...AXP Positive EPS Reaction Leads SPX, DJI...

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The SPX -3.19 closed slightly lower from weakness in semiconductor stocks after INTC lowered 2024 guidance Thursday after the close.  Friday’s Personal Income and Outlays, Core PCE report was 2.9% vs. 3.0% consensus, better than expected, but failed to trigger enough buying to outweigh the negative impact on INTC guidance.

AXP +13.36, +7.10%, positive EPS reaction, INTC -5.90, -11.91%, KLAC -42.32, -6.60%, negative EPS reaction.

FOMC announcement on Wednesday and Jobs Report Friday next week.

Monday, day 11 of Q4 earnings season continues with 1 SPX company BEN reporting BMO and 4 ARE, FFIV, NUE, WHR reporting AMC.  107 SPX companies report next week.

MSFT, GOOGL and AMD report EPS Tuesday AMC.  AAPL, AMZN and META report EPS Thursday AMC. closed at all-times highs today.

First day reaction: Q4

Positive:  AXP, COF, LHX, CL, URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 48

Neutral:  TMUS, WY, SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 17

Negative:  INTC, FICO, KLAC, WDC, AJG, V, NSC, TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 37

Mega caps AMZN, TSLA, META, GOOGL rose and MSFT, AAPL, NVDA fell on Friday.

SPY down .62 at 487.41 on 76.6 million shares, just below average volume, closed lower on slightly higher volume. 

VIX down .19 at 13.26

QQQ down 2.54 at 423.81

AXP, UNH, NKE, BA led the DJIA, 15 advancers, -11

AXP, COF, BIO, CTLT, CRL led the SPX, 269 advancers 

ABNB, MELI, CMCSA, CHTR led the NDX, 44 advancers.

The two-year trend term is sideways.  The one-year trend is up.

Up:   DIA, IWM,

Down:  SPY, QQQ,

Eight of eleven sectors were higher on Friday, led by XLE, XLV and XLP.

The SPY MFC green line turned down at 94.7 and is counter-trend defensive. 

Uptrend sectors:   XLC, XLK, XLF, XLV, XLY, XLI, XLRE, XLB, XLP, XLU,

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

44 of 100 NDX stocks closed higher on Friday.

63 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, AMD, QCOM, COST, ZS, BKNG, MAR, ISRG, MRNA, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, FTNT, META, VRTX, CSCO, CCEP, SPLK, GOOG, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, GOOGL, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, ROP, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, AAPL, ABNB, ADBE, ADI, CMCSA, SNPS, EA, CEG, CSX, FANG, KHC, CSGP, PYPL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

CSGP, PYPL,

Moving Below 30 DMA = 8

ANSS, CPRT, DXCM, GFS, INTC, MCHP, MDB, ODFL,

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