Daily Chart Report ? Wednesday, January 6th, 2021
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Today’s Summary
Wednesday, January 6th, 2021
Indices: US Stocks were mixed in today's session. The Dow Jones Industrial Average gained 438 points or 1.44%. The S&P 500 rose 0.57%, while the Nasdaq fell 0.61%. The Russell 2000 trounced the rest of the pack, jumping 3.98%.
Sectors: 8 of the 11 sectors closed higher. Financials led, gaining 4.42%. Tech lagged, falling 1.72%.
Commodities: Crude Oil futures rose 1.40% to $50.63 per barrel. Gold futures dropped 1.75% to $1,920 per ounce.
Currencies: The US Dollar Index was flat (0.02%).
Interest Rates: The 10-year US Treasury yield rose to 1.041% - the highest since March.
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 Strategas Research (@StrategasRP). It's a chart of the MSCI All Country World Index (Ex. US) ETF, $ACWX, over the past four years. The top-weighted countries in the ETF include Japan, China, UK, France, and Canada. Strategas points out that $ACWX just broke out of a three-year base, and has begun to outperform US stocks in recent months. In a comment to The Chart Report, Todd Sohn of Strategas said, "I think this development is being overlooked. To us, this is the start of a new leg higher. You just exited a three-year bear market. I would encourage everyone to look at the individual markets in here such as Japan, China, France, and even Switzerland. We haven't seen this type of broad-based strength in over three years, which can be considered bullish."
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Quote of the Day
"The statement 'market action discounts everything' forms what is probably the cornerstone of technical analysis."
– John Murphy
Top Links
Santa Claus Showed Up This Year - All Star Charts
JC Parets examines this year's Santa Claus Rally.
Massive Outperformance From Renewables and Banks - Bespoke
Bespoke takes a look at two of today's strongest industry groups - Banks and Clean Energy.
2020 in 20 Charts - LPL Financial Research
Ryan Detrick reviews some of the mind-blowing stats from last year.
Consumer Discretionary, Retail Stocks Hit All-Time Highs - CNBC
In this clip, Ari Wald of Oppenheimer shares his thoughts on Tech and Consumer Discretionary.
Here We Go Again! - Marea Market Musings
Dan Russo reminds us that trends often persist, regardless of election outcomes.
