Home 2021 Broad Rally: S&P 500 Marked a Record Led by Tech and ConsDiscretionary Stocks

Broad Rally: S&P 500 Marked a Record Led by Tech and ConsDiscretionary Stocks

by Paul Ebeling

#Rally #SP500 #jobs #JOLTS


Market sentiment getting a boost from all of the good economic news and FOMO in here” — Paul Ebeling

Reviewing Thursday’s US economic data:

  • Initial jobless claims for the wk ending 6 March decreased by 42,000 to 712,000, which is the lowest level of claims since the 1st wk of November 2020.
  • Continuing claims for the wk ending 27 February decreased by 193,000 to 4.144-M

The Key takeaway from the initial jobless claims data is that initial claims are moving in a direction that suggests the economy is still in it V-Shaped recovery and growing. Plus, JOLTS aka Job openings, increased to 6.917-M in January from a revised 6.752-M in December

Thursday, the benchmark US stock market indexes finished at: DJIA +188.57 at 32485.59, NAS Comp +329.84 at 13398.69, S&P 500 +40.53 at 3939.34

Volume: Trade on the NYSE came in at 1.1-B/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias in here.

  • Russell 2000 +18.4% YTD
  • DJIA +6.1% YTD
  • S&P 500 +4.9% YTD
  • NAS Comp +4.0% YTD

Looking Ahead: Investors will receive the Producer Price Index (PPI) for February and the preliminary University of Michigan Index of Consumer Sentiment (MSI) for March Friday.

Have a healthy weekend, Keep the Faith!

You may also like


Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.