Daily Chart Report ? Monday, April 13th, 2020

Today’s Summary
Monday, April 13th, 2020

Indices: US Stocks were mostly lower to start the week, with the Dow Jones Industrial Average falling 329 points or 1.39%. The S&P 500 closed lower by 1.01%, while the Nasdaq managed to close higher by 0.48%. The Russell 2000 was the weakest of the major indices, dropping 2.78%.

Sectors: Technology led, inching up 0.22%. Real Estate lagged, falling 4.59%.

Commodities: Crude Oil futures moved lower by 1.54% to $22.41 per barrel. Gold futures rose 0.49% to a multi-year high of $1,761 per ounce.

Currencies: The US Dollar Index was flat.

Interest Rates: The US 10-year Treasury yield moved higher to 0.767%.

Here are the best charts, articles, and ideas being shared on the web today!

Chart of the Day

Today’s Chart of the Day was shared on Twitter by Steve Strazza (@sstrazza). It’s a daily candlestick chart of Netflix ($NFLX). There was a lot of chatter about $NFLX and $AMZN today, as both of these market darlings are testing new highs. Steve explains that the outperformance we’re seeing from these widely held stocks is nothing new, emphasizing that they’ve been leading the broader market for years. Up until today, much of the recent rebound has been led by the beaten-down areas of the market, typical of a bear market rally. However, seeing these long-term leaders start to reassert their leadership is healthy for the broader market. He adds that most of these market leaders did not get oversold throughout the historic 35% decline in the broader markets. Regardless of the broader market implications, this is a good reminder that in order to outperform the market, you need to own the stocks that are outperforming the market.

Quote of the Day