Dow Jones today finished in the green along with the S&P 500 Index or SPX, Nasdaq-100, and Russell 2000. Overall, the stock market closed higher ahead of the FOMC meeting. Some energy commodities that influence inflation like crude oil, gasoline, and natural gas were up as well. The crypto product, bitcoin price was relatively flat and traded in the $19K range. Stocks that showed strength included Tesla (TSLA), Nike Inc. (NKE), Union Pacific (UNP), Freeport-McMoRan (FCX), and International Paper (IP). On the other hand, stocks that showed relative weakness included Exxon Mobil (XOM), Public Storage (PSA), Merck (MRK), and HCA Healthcare (HCA). Next, Scott Connor weighs in on KeyBanc upgrading Lennar (LEN) to overweight from underweight. The LEN stock price today was up over 3%. Also, AutoZone (AZO) shares were lower despite their earnings report beat. Finally, Connor discusses economic data like the NAHB Housing Market Index.
20 Sep 2022