Daily Chart Report ๐ Tuesday, April 18th, 2023
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Todayโs Summary
Tuesday, April 18th, 2023
Indices: S&P 500 +0.09% | Nasdaq 100 +0.03% | Dow -0.03% | Russell 2000 -0.40%
Sectors: 7 of the 11 sectors closed higher. Industrials led, gaining +0.48%. Health Care lagged, falling -0.68%.
Commodities: Crude Oil futures were flat and continue to trade at $80.90 per barrel. Gold futures gained +0.63% to $2,020 per oz.
Currencies: The US Dollar Index fell -0.33% to $101.75.
Crypto: Bitcoin gained +3.01% to $30,333. Ethereum rose +1.00% to $2,096.
Interest Rates: The US 10-year Treasury yield fell to 3.579%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Todayโs Chart of the Day was shared by Todd Sohn (@Todd_Sohn). Europe continues to outperform the US off of the October lows. France has been a particular bright spot within Europe, with the French CAC 40 Index breaking out to all-time highs last week. Todd points out that the iShares France ETF, $EWQ, is less than 3% from record highs, as it tests $40 for the third time in the past two decades. He also points out that $EWQ is an indirect way to gain exposure to China, as some of its largest components are French luxury stocks like LVMH and Hermรจs, which have significant revenue exposure to mainland China.
Quote of the Day
"The income tax has made liars out of more Americans than golf."
- Will Rodgers
Top Links
Animated Chart: The S&P 500 in 2023 So Far - Visual Capitalist
Here's a cool visual breakdown of the S&P 500's year-to-date performance.
Volatility is the Toll We Pay - Carson Group
Ryan Detrick looks at the historical frequency of pullbacks, corrections, and bear markets.
Is Transportation Sector ETF (IYT) Starting to Lead? - StockCharts.com
Mish Schneider examines the technical outlook for Transportation stocks.
Here's What Will Confirm a DXY Breakdown - All Star Charts
Ian Culley takes a look at the Dollar as it continues to test a major inflection point.
BofA Global Fund Managers Survey Highlights - Jessica Menton
In this Twitter thread, Jessica Menton highlights some key takeaways about sentiment and positioning from the latest Bank of America Global Fund Managers Survey.
In Case You Missed It
Chris Verrone of Strategas Research joined us to share his perspective on the S&P 500, Market Leadership, Financials, Interest Rates, Gold, Crypto, and more!
https://youtu.be/U0IG-f2fhYI
Subscribe to our YouTube channel here for new episodes every Friday!
Top Tweets