US Stocks ‘Paused to Refresh’

US Stocks ‘Paused to Refresh’

$DIA, $SPY, $QQQ, $RUTX, $VXX

INDUSTRY WATCH

Strong: Financials, Information Technology
Weak: Materials, Communication Services, Industrials

Highlights:

  • Relative strength in the S&P 500 financial and information technology sectors
  • Shares of Apple (NASDAQ:AAPL) continue to outperform following positive analyst coverage
  • Facebook (NASDAQ:FB) is under criminal investigation for some of its data deals
  • General Electric (NYSE:GE) issues FY 2019 earnings warning; CEO offers viable, upbeat outlook

Apple’s services business should help drive long-term upside in the stock, while the iPhone will likely serve “as an annuity,” Cowen said, starting coverage with a buy-equivalent rating.

Note:
Apple’s services business accounted for 15 percent of the company’s Y 2018 revenue, which made it a distant 2nd behind the iPhone, at more than 60%

Apple shares (NASDAQ:AAPL) rose as much as 1.3%, putting the stock on track for its 5th straight winning session, its longest such streak since one that ended on 6 February 2019. At current marks, Apple is trading at its highest since early December 2018

Thursday, the major US stock market indexes finished at: DJIA +7.05 at 25709.94, NAS Comp -12.50 at 7630.90, S&P 500 -2.44 at 2808.48

Volume: Trade on the NYSE came in at 912-M/shares exchanged

  • Russell 2000 +14.9% YTD
  • NAS Comp +15.0% YTD
  • S&P 500 +12.0% YTD
  • DJIA +10.2% YTD

HeffX-LTN’s overall outlook for the major US stock market indexes is Bullish in here.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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