S&P 500 Tops 6,000 in Late Move, Despite Chip Dip
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Welcome to the show market update podcast, where each trading day we recap key market results and statistics. I'm a little clear and here's a summary y of what happened today. Monday, november eleven.

Wall streett post election honeymoon stretched into a new week today, though tech didn't participate and helped to keep two major indexes flat. Most of the session in the last minute birth, the S, N, P, if I found the index of the S P X, claude, its way to close above six thousand. For the first time, semi conductor shares lost out to small caps and financials monday in trading still dominated by ideas that the new administration in washington could boost the domestic economy.

Concerns about trade with china hurt the chip sector. The U. S.

Dollar stayed Green, climbing to form on like rating, financials, industrials and consumer directionally sectors. The dollar drew strength from ideas that U. S.

Domestic growth could improve due to anticipated policies, including lighter regulation, lower taxes and motifs to inflation reports. And retail sales could return cushion over the next few days as participants position for the data. Wednesday brings the october consumer Price index, or CPI, and thursday features the producer surprise index, or ppi.

The CPI could get more attention after september's report came in slightly above expectations. If there's a bad guy that scares off buyers this week, it's possibly the C. P, I. Analysts expect little progress toward the fed's two percent go currently because the economy continues to strain the rains.

More fed rate cuts are likely, but the fed may hold study at an upcoming meeting given the relative economic resilience, said Colin Martin, director, fixed incomes strategy at the swab center for a financial research. A pause could come as soon as december if the economic data warrants IT, but for now, the markets are still pricing in a nearly seventy percent implied probability of a cut next month. A speech thursday by fed cherman jero peel on the economic outlook is another potential keystone later this week.

Here's where the major benchMarks ended. The S M P five hundred rose five point eight one points, or zero point one zero percent, to six thousand and one point three five. The dal jone's industrial average added three hundred and four point one four points, or zero point six nine percent, to forty four thousand two hundred and ninety three point one three, a new all time closing high, and the NASA composite gained eleven point nine nine points, or zero point zero six percent, to nine thousand two hundred and ninety eight point seven six.

The ten treasury note yield didn't trade today due to the veterans day holiday, and the sea o of volatility index of the fix inched up to fifteen point zero five. As for stocks on the move today, the small cap rusal two thousand index, with its heavy exposure to the financials, industrials and consumer discretionary sectors continue to shine with fresh one point six percent gains. Those sectors with their domestic focus happen to be the three leading S N, P sectors.

Over the last week, funds flowed not just into small caps, but other trump trade areas as well, including regional banks and industrial stocks. Money is generally rotating into the value and signal portions of the market that began earlier this year to a degree, but the trend accelerated after the election. Hope for lower interest rates plays into this because cyclically and small cap stocks to do Better in a growing economy, helped by lower borrowing costs.

The rustle two thousands rally came after IT languaged most of the year. Keep in mind, however, that many stocks and rustle two thousands have no earnings at all, and third quarter rustle two thousand and sales growth has only been about one percent. That's much lower than the five percent sales growth seen in S.

P. X. docks. Treasury's were closed today for veterans day, but crypto extended its election related rally. Bitcoin pop almost ten percent to new all time highs, lifted by campaign promises of more government crypto purchases.

But commodities like copper and crude oil plunged amid dollar strength and signs of weaker chinese demand. The following companies had stock Price moves driven by analyst ratings, quarterly earnings or other news. Tesla continued meteoric post election rally, climbing another nine percent today.

Text received a target Price increase from wedbush, which said Donald trumps win will be a game changer for the autonomous driving in A I story. According to bearance, the firm thinks those initiatives will be fast tracked under trump coin base global jump ed, almost twenty percent, and other cypher stocks continued their post election rally. Sharp gains in bitcoin gave shares a lift, taiwan said.

I conductor manufacturing, or T, S M, took some lumps today, dropping three point five percent on our reuter's report that the U. S. Has ordered T, S, M to stop shipments of advanced mi conductors to china based customers.

This happened after reuters reported last month that one of t sm chips was found in an AI processor made 白 华为 sales fourth client six percent after a report in ford said IT could benefit from A， I demand. Home deeper kicks off big box results tuesday morning. Last quarter, home deeper told C, N, B, see that homeowners are deferred projects due to economic uncertainty.

One thing to look for is any possible revival in demand for large home improvement projects after the company reported a weaker spend in that activity last time out. Both home depot and while disney, which reports thursday morning, are useful indicators of consumer demand, though buying flutist and paying for attracted disneyland are very different types of spending. Other companies to monitor to this week are cisco on wednesday afternoon and applied materials late thursday.

Cisco has wide exposure across the tech sector, making IT a good parameter checking techniques. The relative string th index, or R S I for the S P X is close to seventy, which typically suggests over about territory. Resistance for most major indexes is tough to find when markets keep posting record highs.

The exception is the rustle two thousand, which has yet to eclipse its late twenty twenty one all time high of two thousand four hundred fifty eight. That level might mark resistance for the small cap index. Wednesday brings the october CPI and thursday features the P, P I.

C P I will likely get more attention after septembers report came in slightly above expectations. It's possible, however, that last months storms might affect the data. Analysts expect monthly core CPI to rise zero point three percent following a zero point three percent rise in september.

According to trading economics, the year over your core CPI increase is seen at three point three percent, equal to the september gain course of tracks Violet food and energy Prices headline cp s expected to rise zero point two percent, the same as in september, with year over year headline CPI at two point six percent, up from two point four percent september. The feed goal is two percent, but the annual comparisons are tough because inflation slowed appreciably in late two thousand twenty three. None of these are particularly constructive if you're hoping for signs of inflation progress, but one month is into trend.

Powell made IT clear last week. He continues to see progress on inflation. Peel also gave investors clues into his thought process around inflation readings.

He looks not just at twelve months changes, but also at three to six months changes, which provide a closer look at recent trends. Speaking of inflation, data from china early today cast a negative light on its struggling economy. Consumer Prices fell zero point three percent last month from the month before, worse than the trading economics consensus of zero point one percent.

There was no U. S. Data with the government closed for veteran's day futures trading market. Now Prices in longer term. U. S. Treasury yields above the last set of fed projections of one eighty from earlier this year, when the market got far ahead of the fed. The fed releases a new outlook at its next meeting in december, but Powell said last week it's too soon to consider possible fiscal policy from the new administration as the fed projects.

As of late today, traders see sixty five percent chances rates will fell twenty five basis points at the conclusion of the federal open market committee meeting december seventeen th to eighteen th, and a thirty five percent chance of no move based on the C M, I fed watch tool. This has been the swap market update podcast. To stay informed, visit swap dot com slash market update or follow the show for free in your favor.

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