The four indices opened unchanged and moved sideways into the close. Three of the four ended down but only slightly.7 out of 11 of the S&P 500 sectors ended positive. As for commodities, oil (/CL) set a new (6 mo.) low breaking below $90 per barrel, natural gas (/NG) gas is down, while gold (/GC) is a little higher and has been on the move over the last few weeks. TNX and bitcoin (/BTC) faded throughout the day and the VIX dropped. We saw strength in industrials and information tech, especially stocks DE, UNP, and NVDA. We saw weakness in healthcare, consumer staples, and energy, specifically in stocks UNH, PEP, HSY, XOM, and CVX. Walmart (WMT) announced it is to lay off around 200 corporate employees which caused its stock to drop. Coinbase (COIN) rallied after announcing a partnership with BlackRock and finished up about 10% on the day. Jobless claims came in pretty close to expectations, but the number has been consistently creeping higher, while international trade came in slightly
04 Aug 2022