How the day closed: indexes, leaders, laggards, and volatility.
Read the transcript
This is the CAMS Closing Market Recap for Thursday, August thirteenth.
Stocks closed higher on a producer price inflation morning, with the gains stacked toward the largest growth names. The S&P 500 finished up about seven tenths of a percent. The Nasdaq 100 added roughly one point two percent. The Russell 2000 gained about a quarter of a percent, and the Dow trailed everything, up just over a tenth.
That gap between the Dow and the rest of the market came down mostly to one name. Cisco fell more than eight percent, the worst performer in the average by a wide margin, and that single decline was enough to hold the index near flat even though seventeen of its thirty members closed higher. Salesforce led the advancers, up more than four percent, followed by Verizon near two and a half and Merck close to two.
Sector participation was broad but tilted defensive around the edges. Eight of eleven sectors finished green. Communication services led with a gain of about two percent, real estate added roughly one and a half, and consumer staples rose about one percent. On the other side, materials slipped about half a percent, while industrials and health care finished essentially unchanged.
Volatility stayed quiet. The VIX ended near fourteen and a half, barely moved on the session.
The character of the day in one sentence: a firm, low drama advance carried by communications and megacap growth rather than by the whole market moving together.
Tomorrow brings retail sales and core retail sales at eight thirty Eastern, then preliminary University of Michigan consumer sentiment and inflation expectations at ten. The desk will be watching whether the consumer data widens participation across sectors or leaves the advance resting on the same narrow shoulders.
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.