US Market Finishes Mixed, SP 500 Notches Another Record High, NAS and DJIA Off

Posted by: : Paul EbelingPosted on: July 19, 2013 US Market Finishes Mixed, SP 500 Notches Another Record High, NAS and DJIA Off

GE, BA, GOOG, MSFT, IBB, VIX,

Friday’s session featured disappointing earnings from technology heavyweights,  Google (NASDAQ:GOOG) 896.60, -14.08) and Microsoft (NASDAQ:MSFT) 31.40, -4.04,  but that could have gone unnoticed if someone were to only focus on the  performance of the S&P 500, which ended with a gain of 0.2%, notching a  new record high.

The NAS finished lower by 0.7% ,  earnings and revenue misses from it 2 major components weighed.

The market saw outperformance in, energy, health  care, and industrial sectors. The 3 groups added between 1.2% and 1.4% with  health care the leader.

The health care sector spent the entire  session in a steady rise as bio-technology provided significant support. The  iShares Nasdaq Biotechnology ETF (NYSEArca:IBB) 195.00, +3.06)advanced 1.6% after  marking a new all-time high.

In the industrial sector was  underpinned by Dow component General Electric (NYSE:GE) 24.72, +1.09, rose 4.6% after its earnings beat overshadowed a 3.5% Y-Y  decline in revenue.

DJIA member, Boeing (NYSE:BA) 106.96, -0.67, kept  industrials from more gainers after 2 more Dreamliners were forced to return to their home ports following in-flight technical  issues.

Another commodity-related sector, materials, rose 0.5% as chemical producers and  gold miners displayed strength. The Market Vectors Gold Miners ETF (NYSEArca:GDX)  25.86, +1.08 rose 4.4%. Gold futures displayed strength as well, climbing  0.8% to $1294.30 per troy ounce.

The CBOE Volatility Index (VIX)  12.54, -1.23 spent the entire session in a steady decline, dropping to its  lowest level since 17 May. After notching its Y 2013 high of 21.91% on24  June,  the near-term volatility measure has logged 3 consecutive weekly losses as  the S&P 500 climbed to fresh all-time highs.

NYSE trading volume was 872-M/shares, light when  taking today’s options expiration into account.

Monday, June existing  home sales will be reported at 10:00a EDT.

 

 

 

 

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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