US Stocks Finished Mixed Monday in a “Pause to Refresh” Session



The NAS Comp closed at record high in mixed session:

DJIA -148.47 to 30069.73, NAS Comp +55.71 at 12519.86, S&P 500 -7.16 to 3691.97

Volume: Trade on the NYSE came in at 927-M/shares exchanged.

The S&P 500 declined 0.2% Monday to ease back from record territory, while the NAS Comp (+0.5%) closed at a new record high on relative strength in growth stocks. The DJIA (-0.5%) and Russell 2000 (-0.1%) finished in negative territory after marking intraday record highs in the morning. 

  • NAS Comp +39.5% YTD
  • S&P 500 +14.3% YTD
  • Russell 2000 +13.4% YTD
  • DJIA +5.4% YTD

Generally, the large-cap value/cyclical stocks struggled Monday after outperforming growth stocks and the S&P 500 since the end of October.

The energy sector saw a 2.4% decline, although it remained up 30% this Quarter and no other sector declined more than 1.0% Monday.

The IT sector (+0.3%) provided support, while communication services (+0.6%) and utilities (+0.6%) sectors outperformed.  

Reviewing Monday’s US economic data, as follows:

  • Consumer credit increased by $7.2-B in October (consensus $9.0-B) after increasing by a downwardly revised $15.1-B from $16.2-B in September.
    • The Key takeaway from the report is that revolving credit decreased for the 7th time over the last 8 months dating to February, which preceded the initial virus epidemic lockdown frame taking in the US.

Looking Ahead: Investors will receive revised figures for Q3 Productivity and Unit Labor Costs and the NFIB Small Business Optimism Index for November Tuesday.

Have a healthy day, Keep the Faith!

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