Please enable javascript in your browser to view this site!

Trading range continuing for US indices while DJIA presses higher

2hrs to go on this Friday.. we've seen indices largely recapture early losses, but still only 2 positive sectors out of 11, with Healthcare snapping back, while Financials are fractionally positive-  Meanwhile, dismal performance in GT, MAT, SBUX, AMZN hurting Consumer Discretionary which is lower by 0.80%, while Staples also down 0.96% with big losses in MO, KMB, BF/B, CWD, CLX all lower by more than 1%-  Materials also lower by 0.66% as IP, NUE, EMN, SEE lower by 2% or more despite the drop in the US Dollar which has resulted in commodities pushing even higher, and Gold attempting minor breakout, while Crude closing in on 50, so many of the Mining/infrastructure names higher, such as CF, MOS, while NEM higher by 1.5% and LYB up 3.5%-  Overall the snapback is comforting after a time when yesterday's selloff threatened immediate followthrough, at least in NASDAQ. ..but not much change on the week from either SPX, nor NASDAQ, while DJIA back at new highs as stocks like BA, VZ, CAT, CVX, and WMT are all higher this week by 4.5% or more-  Some minor concerns heading into the final day of July next Monday and into August, but largely this is centered on Industrial sector/Transports and Technology..  Heading into next week, EURUSD looks to be very stretched, but still no evidence of turning down.. and above 1.18 has little until 1.20, so Dollar decline and Metals surge mightvery well continue into early August