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December 27, 2024
DOW: 42,914
S&P: 5,952
Nasdaq: 19,593
10YR T-Note: 4.58%
Bitcoin: 94,037
VIX: 18.14
Gold: 2,630.40
Crude Oil:70.13
Prices Current as of 10 :37 am
Source: CNBC
Don Selkin, the creator and innovator of the "Fair Value" numbers, as its Chief Market Strategist on the Newbridge platform has given CNBC and its Predecessor, these numbers every day for the over 40 years - never missing a single day, as well as given the fair value for the Nasdaq 100 futures since their introduction in 1996 and the Dow Jones stock index futures since 1997. Mr. Selkin has also been quoted in several publications including but not limited to Bloomberg News, New York Post, Reuters, and The New York Times. Mr. Selkin's Fair Value numbers are included in the U.S.
Futures Report broadcast on CNBC every day before the market
opens attributing "Newbridge Securities" as the source. In addition, NSC provides to its professionals, their clients and the public access to Don Selkin's more in depth financial market views.
The second day of the 5 + 2 sessions ended yesterday with the major indices ending mixed as the S&P and Nasdaq ended nominally down after having made a nice comeback from their early morning lows.
The Dow did end slightly higher with a 29 point gain to 43,325 led by advances in AAPL which has been on an upside party, plus HON and BA.
The S&P faded out a bit right at the end to finish down by 2 points to 6037 as some selling in other large technology stocks hurt a bit with AMZN, NVDA, META and TSLA all ending down. But the index itself showed the ability to rebound from a morning low of as much as down 33 to get as high as a 9 point gain before that very late fadeout.
The Nasdaq came way back from an early loss of 143 to a 9 point gain before also fading out late to end down by 10 points to 20,020 and the reason was the coming off a bit in some large tech stocks as mentioned above.
And for once, the real hero of the day was the Russell 2000 Index of small stocks which was nominally positive for the entire session and ended 20 points higher at 2280 so one can see the really mixed nature of the major indices.
The VIX rose up to 14.73 as I mentioned in yesterday’s Notes that it had dropped too close to the support level of 13 that perhaps some easing off in the market was a bit necessary.
The tiny loss ended the S&P three-day winning streak but the Santa rally is still positive after the second day of the current participation. Trading volume was lighter than usual as U.S. markets reopened following the Christmas holiday.
For a change, some healthcare stocks did better as CVS and WBA rose, with the latter for the largest gain in the S&P, and how do you like that?
Several retailers also gained ground with TGT, ROST, BBY and DLTR showing gains as investors are watching to see whether these stories have a strong holiday season. The day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and look for bargains.
U.S.-listed shares in Honda and Nissan also gained as the Japanese automakers announced earlier this week that the two companies are in talks to combine.
Weekly jobless claims fell to 219,000 though continuing claims rose to the highest level in three years, the Labor Department reported.
Earnings are getting light and will start coming in more for the fourth-quarter in January, so this holiday-shortened week we have: today – PD slightly lower.
Economic reports will show: yesterday – weekly jobless claims slipped to 219,000 which is 1,000 less than last week.
