Stock market: Choppy week for Dow, other indices down, volatility and yields up over last two months

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Yahoo Finance’s Jared Bilkre reports one various aspects of the stock market.

Video Transcript

Let’s get right over to Jared Blikre with another check of the markets. Jared.

JARED BLIKRE: Yeah, let’s check out what’s happened this week. So I’m going to put on– well, it’s going to be imperfect, it’s going to be a five-day chart, but I just want to show the choppiness on the Wi-Fi Interactive that we have seen over the trailing week here. And you can see we are kind of at the bottom end of that range.

Now, the NASDAQ looking a little bit more bearish, and the S&P 500 a little bit bearish, as well. And the Russell 2000, although it’s up seven basis points today, really had kind of a nasty five days here, down about 2%, in fact. But we’re down today. That would be the sixth day in a row.

Also want to take a look at the VIX because that is slightly elevated. I’m going to change this to a two-month candlestick chart. And you can see this rounded bottom we have. And sometimes this portends higher VIX prices, and that portends to lower equity prices. We’ll have to see what that is, but I do think that we will see somewhat of a snapback rally from the prior two days’ losses, if not today, then Friday in the half session. Simply put, during this bullish season of year, if we happen to be in a bull market, the dips tend to get bought during holidays.

So here is the 10-year T note yield. We’ll get a quick check on that. It looks like we finally exceeded the high from October, so the highest yield that we saw in months. But we have retreated from that, down just a fraction of a basis point. And then the belly of the curve, five-year note, five-year T note yield. That is the highest since we saw early in the pandemic. And then finally, the US dollar index, which I have been harping on lately, climbing yet again to 96.87.

Here is the NASDAQ 100. And we’re seeing the mega-caps under a little bit of pressure today. Microsoft off about 3/4 of a percent, Amazon, Apple and Alphabet off slightly, while Facebook– Meta– and Tesla up slightly. Not seeing a lot of outliers here. AMD seems to be a winner, up 2.5%. And we’ll take a look at the semiconductor space. Kind of a mixed bag. In fact, it’s gearing towards or heading towards the red with most of these stocks here. NVIDIA is up about 3/4 of a percent, though.

Software has been under pressure recently. We’re seeing Autodesk down 16% after earnings. Might be talking about that in the next hour. But you know, we talk about earnings here quite a bit. And it has been kind of a case of have and have nots. You can see the computer guys here, HPQ, Hewlett-Packard, that’s up 10%, Dell up 4% or 5%. But Autodesk, Gap and Nordstrom– kind of a motley crew right there– each down quite a bit. And I think we’ve talked about that quite enough, Sozzi. I do appreciate your rants, but I’m not going to– I’m not going to ever roll them in because, I’ll tell you what, I love a good rip roaring rant. And well placed [INAUDIBLE].

I would like to call them passionate analyses. So maybe that’s a new naming– new naming for it. But you know, while you are here–

JARED BLIKRE: It should be the name of your newsletter, your Substack.

Yes. No, no, no, no, no, please, don’t say that [INAUDIBLE]

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