Where the session stands: breadth, sectors, and what moved.
Read the transcript
This is the CAMS Midday Market Check for Wednesday, August 5.
Midday trade looks like two different markets stacked on top of each other. The S&P 500 is essentially unchanged. The Dow is out front, higher by about seven tenths of a percent. The growth side is going the other way, with the Nasdaq 100 down about a third of a percent and small caps in the Russell 2000 off by a similar amount.
The breadth underneath is wider than that flat S&P suggests. Inside the Dow, twenty-two names are higher and only eight lower. Amgen and Nvidia are both up near four and a half percent, Goldman Sachs higher by roughly two. The weak side is thin. Dow Inc is down close to three percent, Verizon off two and a half, Chevron a percent and a half.
Sector leadership agrees. Six are green, five red. Materials leads, up about one point two percent, with health care right behind at one percent. Technology is up a quarter point even with the Nasdaq lower. At the back, communications is off about one point seven percent, energy down one point six, utilities one point three. Money is spreading into cyclical and defensive corners and away from yield-sensitive and communications names. It reads as a rotation session more than a directional one.
Volatility is quiet. The VIX is near sixteen, down about three percent.
On the calendar, ADP payrolls and the ISM services survey both landed this morning. A presidential address is scheduled for four thirty. Weekly jobless claims arrive Thursday, and Friday brings the July employment report.
CAMS publishes impersonal market research — nothing here is individualized investment advice. The full written research is at curve ahead market strategies dot com.
Publisher Disclosure.
Curve Ahead Market Strategies publishes an impersonal business and financial publication of general and regular circulation.
The content is identical for all subscribers and is not tailored to any person’s portfolio, investment objectives,
risk tolerance, tax status, liquidity needs, or other circumstances. We do not provide individualized investment advice
through email, chat, customer support, social media, or any other channel. Any discussion of a security reflects the
publisher’s editorial views only and is not a request, instruction, or recommendation that any reader buy, sell,
hold, or use any specific investment strategy.
Conflicts & Compensation.
Principals, employees, or affiliates of the publisher may hold positions in securities discussed in this publication. Under the publisher’s personal-trading policy, principals do not trade a covered security from two trading days before through two trading days after the publisher posts coverage of that security, and where a principal holds a position in a security discussed, the publication states so.
Neither the publisher nor its principals, employees, or affiliates received compensation from any issuer, underwriter,
or dealer in connection with this publication. If any such compensation ever exists, the publication will clearly
disclose its source, amount, type, and timing.
Risk.
Investing involves risk, including possible loss of principal. Markets change; nothing described here is a prediction
or guarantee of any outcome.