S&P 500 ekes out a gain despite consumer confidence decline

00:00 Speaker A

That's the closing doorbell connected Wall Street. And present it's marketplace domination overtime. Jared Lukry going to beryllium on successful a infinitesimal to get america up to velocity connected the enactment down today's trade. In the meantime, let's instrumentality a look astatine what's going connected with the large averages present arsenic we adjacent things out. It looks similar it's going to beryllium a photograph decorativeness present with possibly the Dow finishing higher by 4 points. So we'll hold for the numbers to settee out, but it looks similar that's wherever we are. Let's telephone it unchanged, shall we? The S&P 500 likewise not moving much, but much to the upside, astir 2 tenths of 1%, and the Nasdaq finishing the time with a small spot of a limb up arsenic well, astir a fractional of 1%. We had immoderate economical information present contiguous moving the gamut from caller location income to a user assurance fig that came successful beneath estimates and successful peculiar the expectations portion of that scale coming successful astatine a 12-year low. So investors weighing each of that, we're acceptable to get different speechmaking connected assurance connected Friday. So present investors looking up to that, to effort to fig retired if each of this sentiment information is going to provender done to existent spending data. We talked with Jennifer Re of BMO astir that earlier successful the show, and she said, basically, it's excessively soon to tell. So I conjecture that's the connection that the marketplace is sending contiguous arsenic well, arsenic it doesn't determination much. Jared's got a person look astatine today's action.

02:09 Jared

Thank you. Uh we're seeing fearfulness leak retired of the marketplace and we tin spot that successful the VIX here, which is down to 17. That was arsenic precocious arsenic astir 30 conscionable a week oregon 2 ago, and let's instrumentality a look astatine the 1 period chart. There's that highest close there. That's a closing level interday. It deed astir 30 and present uh it is person to the uh little levels of the year. We telephone that a a scope successful present that it has fallen into. So that's bully quality for hazard markets, of course, they could sprout backmost up. But for the clip being, we're seeing uh conscionable immoderate uh fearfulness evaporating and we tin besides spot that successful the assemblage action, which is uh much greenish than uh than reddish and what we person successful reddish present is chiefly the antiaircraft uh sectors. So you got utilities down 1.6%, healthcare, which is sometimes defensive, that's 1.3% down, existent property and staples, those circular retired the underperformers and the bottommost dwellers there. Also materials and industrials underperforming, but not by a ample amount. We didn't spot that overmuch enactment successful the S&P 500 today. And we tin spot the victor here, intelligibly connection services and that's an alphabet communicative that's besides immoderate others similar meta successful there. Consumer discretionary did well, that's Amazon and Tesla, and past the financials, vigor and tech, those circular retired the apical level. So let's instrumentality a look astatine the NASDAQ 100. You tin spot much greenish than reddish here, adjacent successful the mega caps. Tesla up astir 3 and a fractional percent today. Nvidia down conscionable a small bit, 6/10 of a percent and I was mentioning connection services arsenic a large winner. Alphabet and meta each up much than 1% and if I spell to the leaders present today, you tin spot Mag 7 ETF, that is up top. That was astatine 1.2%. We besides person bundle doing well, New York Fang, and ITA. I don't speech a batch astir this, but this is simply a aerospace and defence ETF that deed a grounds precocious today, and you tin spot this has been a precise dependable uptrend that we've seen since the opening of this, uh, well, not rather then, since the resumption of the bull marketplace successful October of 2023 and uh adjacent successful the latest drawdown, wherever the marketplace was entering correction, it did not get deed that broadly. So defence is really a antiaircraft sector. How bash you similar that? We tin besides spot what's happening wrong smaller tech and we tin spot uh Tesla the large 1 up, but much greenish than reddish there. So bully to spot a small spot of a comeback contiguous and we'll spot if this fledgling rally has immoderate legs. Guys?