The stock market was mixed on Monday with Tech and the broader market staying hot while the blue-chips and small-caps slumped. Real Estate and Technology were the strongest sectors after rising 1.2% and 1.1%, respectively.Financials were the weakest sector after falling 1.4%. Volatility stayed slightly elevated throughout the first half of action before easing into the closing bell, but continues to struggle with key support levels.The Nasdaq finished at 15,265 (+0.9%) with the intraday all-time high hitting 15,288. Unchartered territory and lower resistance at 15,200-15,350 was cleared and held. A move above the latter would signal ongoing momentum towards 15,500-15,650.The S&P 500 closed at 4,528 (+0.4%) after testing a fresh record high of 4,537. New and lower resistance at 4,525-4,550 was cleared and held. A close above the latter would indicate additional upside towards 4,575-4,600.The Russell 2000 tapped a late day low of 2,264 before settling at 2,265 (-0.5%). Current and upper support at 2,275-2,250 failed to hold. A drop below the latter would signal a retest towards 2,225-2,200 and the 50-day moving average.The Dow tagged a low of 35,374 while ending at 35,399 (-0.2%). Near-term and upper support at 35,250-35,500 was challenged but easily held. A move below the latter would suggest a further fade towards 35,000-34,750 and the 50-day moving average.
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Amerant Bancorp (AMTB) upgraded to Overweight from Neutral at Piper SandlerMagnolia Oil & Gas (MGY) upgraded to Buy from Hold at Truist wOllie’s Bargain Outlet (OLLI) upgraded to Neutral from Sell at CitiDave & Buster’s (PLAY) downgraded to Hold from Buy at StifelPinterest (PINS) downgraded to Hold from Buy at ArgusT-Mobile (TMUS) downgraded to Sector Weight from Overweight at KeyBanc
TUESDAY’S EARNINGS ANNOUNCEMENTS Before the open: American Woodmark (AMWD), Burning Rock Biotech (BNR), Chico’s FAS (CHS), Designer Brands (DBI), Futu Holdings (FUTU), Hywin Holdings (HYW), I-Mab (IMAB), Leju Holdings (LEJU), Netease.com (NTES), Youdao (DAO)
After the close: Ambarella (AMBA), Caleres (CAL), CrowdStrike (CRWD), Paycor (PYCR), PVH (PVH)
TUESDAY’S ECONOMIC NEWSS&P Corelogic Case-Shiller – 9:00amChicago PMI – 9:45amConsumer Sentiment – 10:00am
METALS/ OILGold closed at $1,812.20 an ounce, down $7.30Silver settled at $24.01 an ounce, down $0.05Copper finished at $4.38 a pound, up $0.05Crude Oil was at $69.10 a barrel, up $0.43Bitcoin Investment Trust (GBTC) ended at $38.90 down $0.25
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