Daily Chart Report ? Wednesday, November 25th, 2020
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Today’s Summary
Wednesday, November 25th, 2020
Indices: US Stocks were a mixed bag in today's session. The Dow Jones Industrial Average fell 174 points or 0.58%. The S&P 500 inched lower by just 0.16%, while the Nasdaq rose 0.47%. The Russell 2000 closed lower by 0.46%.
Sectors: 4 of the 11 sectors closed higher. Utilites led, rising 0.26%. Energy lagged, falling 2.33%.
Commodities: Crude Oil futures moved higher by 1.78% to $45.71 per barrel. Gold futures were flat and continue to trade around $1,806 per ounce.
Currencies: The US Dollar Index fell 0.25% to its lowest level in more than two years.
Interest Rates: The 10-year US Treasury yield moved slightly lower to 0.878%.
**Reminder: The US Stock Market and Bond Market will be closed tomorrow, November 26th, in observance of Thanksgiving Day. Both will reopen for a half-day on Friday, November 27th.**
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 by Michael Santoli (@michaelsantoli). The table shows the top-performing stocks in the S&P 500 month-to-date. The S&P 500 is up 11% so far in November, putting it on track for the second-best monthly gain in the past decade. Michael points out that this post-election rally has been unique because it has been led by long-term laggards rather than the usual suspects like Mega-Cap Tech. As you'll notice, many of these stocks are Energy/Oil-related names that are still down double-digits this year. So is this a junk-led rally? You could call it that, but that would dismiss how positive this is for the broader market in the long-run. It's constructive to see leading sectors like Tech take a breather while lagging sectors like Energy play catch-up. As the great technician Ralph Acampora once said, "rotation is the lifeblood of bull markets."
Quote of the Day
“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”
– Oprah Winfrey
Top Links
30,000 Reasons To Be Thankful - LPL Financial Research
The team at LPL Financial Research serves up a feast of market stats to impress your family/friends with at the Thanksgiving table this year.
After Market's November Surge, There May Be Less Chance of a Big 'Santa Rally' - CNBC
Several respected technicians share their thoughts on the S&P 500 as we head into the final month of the year.
Small Cap Stocks See Bullish Reversal in Relative Performance - See it Market
Chris Kimble takes a look at the long-term outlook for Small-Caps relative to Large-Caps.
Snapping for a Second Chance - All Star Charts
Sean McLaughlin outlines a bullish options trade on Snap Inc. ($SNAP).
A Month To Be Thankful For - Bespoke
Bespoke examines the strongest stocks and sectors within the Russell 1000 so far this month.
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