SPX, NDX, DJI and RUT Close Higher on Market Bounce...Communication Services, Industrials, Real Estate Lead all Sectors Higher...Mega Cap EPS from MSFT, META, AAPL, AMZN Next Week...

© 2024

The SPX +59.88, 5,459, opened higher after the PCE Inflation report was an inline 2.5% vs. 2.5% consensus.  The SPX did trend up after the open before selling off in the afternoon but still managed to close higher.  Advancers breadth strengthenrf on Friday.

MMM +23.77, +22.99%, MHK +26.21, +19.49% CHTR, BMY, NSC and CNC were the SPX earnings gainers on Friday.

The NDX +1.03% also opened and closed higher on Friday.

Next Tuesday/Wednesday FOMC meeting July 30-31, 2024. 

Earnings season continues Monday with 10 SPX companies reporting: L, MCD, ON, RVTY report BMO and EQR, FFIV, HOLX, PYPL, SBAC, WELL report AMC.  AMD, MSFT report Tuesday AMC, META on Wednesday AMC and AAPL, AMZN on Thursday AMC.

First day reaction: Q1

Positive:  MMM, MHK, CHTR, BMY, NSC, CNC, AON, HIG, DECK, BKR, DOC, VLTO, WY, VRSN, EMN, AJG, CING, CL, NOW, MOH, UHS, POOL, TYL, CBRE, RTX, MAS, NDAQ, NOC, DOV, LUV VLO, URI RJF,  IBM, AAL, AMP, ORLY, FTI, WTW, HAS, ABBV, KDP, CMS, ENPH, T, NEE, TMO, STX, TDY, TEL, FI CSGP, PNR, MSCI, SHW, GE, LMT, DHR, BRO, HCA, PM, IVZ, IQV, TFC, ISRG, HBAN, SLB, FITB, DHI, CTAS, KMI, EFX, MTB, BX, DFS, USB, JNJ, CFG, PLD, STT, UNH, BAC, PNC, GS, BK, FAST= 86

Neutral: JNPR, KLAC, GL, DTE, UNP, DOW, IP, COF, ALLE, ODLFL, PKG, EQT, TXN, CME, WRB, MCO, KO, PHM, NVR, GPC, RF, TXT, CCI, STLD, SYF, MS, BLK = 27

Negative:  DXCM, LHX, PFG, TROW, BEN, DLR, EW, F, WST, TER, LKQ, WM, INVH, ALGN, RCL, ROL, HON, RSG, NEM, LVS, TSCO, CMG, CARR, PCG, LW, TSLA, FTV, ROP, OTIS, APH, WAB, GOOGL, GEV, V, GD, CB, IPG, BSX, UPS, PCAR, AOS, NXPI, GM, KMB, DGX, ARE, CMCSA, AVY, FCX, CDNS, NUE, VZ, TRV, HAL, PPG, AXP, NFLX, DPZ, ABT, KEY, LVS, SNA, MMC, UAL, JBHT, ELV, NTRS, OMC, SCHW, PGR, WFC, C, JPM = 73

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

SPY up 6.03 at 544.44, 53.7 million shares, above average volume

VIX down -2.07 at 16.39

QQQ up 4.70 at 462.97

MMM, CRM, AXP, V led the DJIA, 27 advancers, +12

MMM, MHK, CHTR, BMY, NSC, CNC led the SPX, 436 advancers 

CHTR, BKR, WBD, DASH led the NDX, 84 advancers

Up:  IWM, DIA, SPY, QQQ,

Down:  

All eleven sectors were higher on Friday, led by XLC, XLI and XLRE.

The SPY MFC green line is pointed down at 41.2 and is short-term bearish.

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

Neutral sectors: 

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

84 of 100 NDX stocks closed higher on Friday.

40 NDX stocks are above their 30 DMA:  VRSK, REGN, FANG, VRTX, CHTR, EA, CTAS, AMGN, BKR, GILD, ODFL, AEP, CTSH, GEHC, ILMN, CDW, FAST, MDB, LIN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, CSGP, CSCO, MDLZ, CSX, MNST, TEAM, WDAY, CCEP, CMCSA, FANG, ISRG, KDP, MELI, TXN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

CCEP, CMCSA, FANG, ISRG, KDP, MELI, TXN,

Moving Below 30 DMA = 0

Add Comments here: