Semiconductor sector drops below its 200-day moving average

ETF image
From Tomi Kilgore: Chip stocks continued their broad selloff Thursday, as investors feared that the U.S.-China trade war will last longer than previously expected. The PHLX Semiconductor Index SOX, -2.22% slumped 2.2% in morning trade, with 29 of 30 components losing ground, as the S&P 500 SPX, -1.19% declined 1.2%. The SOX, which has now shed 15.5% this month, has dropped below the 200-day moving average, which is widely followed as a tracker of longer-term trends, and is now in danger of the first close below that technical indicator since Feb. 4. Among the SOX's biggest decliners, shares of Advanced Micro Devices Inc. AMD, -3.76% slid 3.6%, Micron Technology Inc. MU, -3.60% dropped 3.5%, Nvidia Corp. NVDA, -3.19%gave up 3.5% and Qualcomm Inc. QCOM, -2.73% shed 3.4%. The lone gainer was Cypress Semiconductor Corp.'s stock, which tacked on 0.5%. Analyst Vivek Arya at Bank of America Merrill Lynch said chip companies appear to be expecting some trade resolution by the third quarter, soon after President Trump meets with China's president Xi Jinping on June 28 to June 29. "Overall, we believe the U.S. holds significant leverage in the current trade war (semis perspective), and can continue to exert even more pressure (restrict additional Chinese customers) which should lead to some resolution," Arya wrote in a note to clients.
NYSE:SMH May 23, 2019 11:23am

Auto makers are laying off workers at the fastest pace since the Great Recession

employment
From Tomi Kilgore: Auto makers are laying off employees at the fastest pace since the financial crisis, according to outplacement services company Challenger, Gray & Christmas Inc., as the industry struggles with evolving consumer demand and new technology-based competition.
NASDAQ:CARZ May 21, 2019 4:58pm

Canntrust’s shares plunge, leading marijuana sector lower

stock ticker board
From Tomi Kilgore: The U.S.-listed shares of CannTrust Holdings Inc. CTST, -13.20% TRST, -12.57%tumbled 13% toward a four-month low in active premarket trade Thursday, after the Canada-based cannabis company announced the pricing of its common stock offering at a deep discount. The company said the 36,363,636 million share offering priced at $5.50, or 14.6% below Wednesday's closing price of $6.44. Of that total, the company is selling 30,909,091 shares for gross proceeds of $170 million, while the balance is being sold by selling shareholders. The stock offering had been announced on April 22. CannTrust's stock is on track to open at the lowest price seen during regular-session hours since Jan. 8, 2019, and for a sixth-straight loss. The stock has rallied 33.5% year to date through Wednesday, while the ETFMG Alternative Harvest ETF MJ, -1.75% has climbed 42.3% and the S&P 500 SPX, -0.21% has gained 16.6%.
NYSE:MJ May 2, 2019 6:01pm

Which US airlines has the best and worst on time performance?

From Tomi Kilgore: Alaska Air Group Inc. ALK, +0.47% had the worst one-time performance in February among reporting marketing carriers, while Hawaiian Holdings Inc.HA, -0.52% had the best, according to the Department of Transportation's "Air Travel Consumer Report" (ATCR). The average on-time arrival rate for the month was 73.8%, while Alaska Air came in at 66.9%, and JetBlue Airways Group Corp.JBLU, -0.12% was second worst at 70.0%. Hawaiian came in at 81.7% and Delta Air Lines Inc. DAL, -0.44% came in second at 77.9%. Alaska also had the highest flight cancellation rate at 5.8%, well above the average rate of 3.1%, and at least the 3 longest tarmac delays for domestic flights, the ATCR said. Southwest Airlines Co. LUV, -1.10% had teh second-highest cancellation rate at 4.6%, while Hawaiian had the lowest cancellation rate at 0.6% and Frontier Airlines was second lowest at 1.2%. Alaska Air's stock has edged up 1.4% year to date through Thursday, while Hawaiian shares have rallied 15.3%, the NYSE Arca Airline IndexXAL, +0.02% has gained 14.3% and the S&P 500 SPX, +0.16% has climbed 15.9%
BATS:IYT April 19, 2019 1:07pm

The Dow Jones Transportation Average jumps 120 points

From Tomi Kilgore: The Dow Jones Transportation Average DJT, +1.24% soared 120 points, or 1.1%, in midday trade, as better-than-expected earnings reports helped the transportation sector tracker buck the weakness in the broader stock market. The Dow transports was led higher by earnings reporters, as shares of railroad operator CSX Corp. CSX, +4.37% shot up 4.6%, airline United Continental Holdings IncUAL, +4.51% rallied 4.3% and Kansas City Southern KSU, +4.16%hiked up 4.0%, after those companies all reported earnings that beat expectations. The stock price gains were adding a combined 73 points to the Dow transports' price. Meanwhile, the Dow Jones Industrial Average DJIA, +0.06%shed 52 points, or 0.2%, the S&P 500 SPX, -0.10% gave up 0.3% and the Nasdaq Composite COMP, +0.04% slipped 0.2%.
BATS:IYT April 17, 2019 1:40pm

Walgreens shares plummet, dragging down the consumer staples ETF

money loss arrows
From Tomi Kilgore: Walgreens Boots Alliance Inc.'s stock WBA, -12.58% plummeted 12.3% in morning trade, putting them on track for a 5-year closing low, after the drugstore chain's disappointing earnings report and slashed profit-growth guidance. The stock, headed for the lowest close since April 2014, was also suffering its biggest one-day drop since it tumbled 14.3% on Aug. 6, 2014, which was the day Walgreen announced it would buy the remaining stake in Alliance Boots GmbH that it didn't already own. The stock's price decline was lopping about 53 points off the price of the Dow Jones Industrial Average DJIA, -0.40% which fell 87 points. It also helped knock the shares of rival CVS Health Corp. CVS, -3.28%down 3.4% and the SPDR Consumer Staples Select Sector ETF XLP, -0.64% down 0.6%. Walgreens was the biggest decliner in the consumer staples ETF.
NYSE:XLP April 2, 2019 2:12pm

Cannabis sector news: Huge U.S. marijuana acquisition deal

marijuana stocks
From Tomi Kilgore: A C$1.1 billion cannabis deal announced Monday helped to spark a broad rally in the broader marijuana sector to start the second quarter, even if shares of Origin House fell Monday as news broke of its acquisition by Chicago-based Cresco Labs Inc.
NYSE:MJ

Aurora Cannabis’ outperforms its marijuana competitors, sees 3rd-straight monthly gain

marijuana stocks
From Tomi Kilgore: Shares of Aurora Cannabis Inc. ACB, +1.70% hiked up 1.1% in active morning trade Friday, putting them on track to outperform the broader cannabis sector by posting a third-straight monthly gain. The stock was up 18.0% in March, after rising 6.6% in February and 42.9% in January, for a year-to-date gain of 79.9%. Meanwhile, the ETFMG Alternative Harvest ETF MJ, +0.44% was up 0.3% Friday, but has lost 2.5% this month and gained 45.0% this year. In comparison, the S&P 500 SPX, +0.33% has edged up 1.5% this month. Aurora's stock rally in March comes after the company said earlier in the month that it hired hedge-fund manager Nelson Peltz as an adviser and Cowen designated the company as its "top pick." On Thursday, the U.S. House Financial Services Committee cleared the Secure and Fair Enforcement (SAFE) Banking Act, which would provide a safe harbor for banks working with the legal cannabis industry, to go to the House floor.
NYSE:MJ March 29, 2019 11:37am

Homebuilders ETF drops despite the bullish ‘golden cross’ pattern set to appear

ETF investing
From Tomi Kilgore: The SPDR S&P Homebuilders ETF XHB, +0.08% fell 0.5% in afternoon trade Tuesday, in the wake of disappointing housing data, ironically on the same day that a bullish "golden cross" chart pattern is set to appear. Of the ETF's 35 equity components, 25 were trading lower. Earlier, data showed that February housing starts dropped a more-than-expected 9% and home price growth slowed in January, to the slowest pace in 6 1/2 years. Meanwhile, a "golden cross" is when the 50-day moving average, a short-term trend guide, crosses above the 200-day moving average (DMA), a longer-term trend tracker. Many chart watchers believe the crosses mark the spot a short-term rally transforms into a longer-term uptrend. The homebuilders ETF's (XHB) 50-DMA currently extended to $37.377 while 200-DMA was at $37.370, according to FactSet. That would mark the first time the XHB's 50-DMA was above the 200-DMA since April 20, 2018, and be the first "golden cross" since Jan. 23, 2017. Among the XHB's more active components Tuesday, shares of D.R. Horton Inc. DHI, -0.88% shed 2.0%, Lennar Corp. LEN, +0.32% gave up 0.7%, Lowe's Companies Inc. LOW, -0.07% slipped 0.1%, Home Depot Inc. HD, -0.18% declined 0.2% and PulteGroup Inc.PHM, +0.62% lost 0.1%.
NYSE:XHB March 26, 2019 4:49pm

Financial sector sees another day in the red, as Fed’s dovish messages weigh on yields

profit loss
From Tomi Kilgore: Financial stocks fell Friday, and were the only sector of the S&P 500'sSPX, +0.70% 11 sectors to be losing ground, as Treasury yields extending declines amid growing concerns of a slowing economy. The SPDR Financial Select Sector ETF XLF, -0.54% declined 0.4%, and has now lost 3.2% amid a 3-session losing streak. Among some of the financial ETF's most heavily weighted components, shares of J.P. Morgan Chase & Co. JPM, -1.85% fell 1.8% to pace the Dow Jones Industrial Average's DJIA, +0.58% decliners, Bank of America Corp. BAC, -1.71%shed 1.4%, Citigroup Inc. C, -1.03% slid 1.0%, Goldman Sachs Group Inc.GS, -0.38% gave up 0.3% and Wells Fargo & Co. WFC, -1.44% lost 1.2%. Meanwhile, the yield on the 10-year Treasury yield declined 1.4 basis points to a 14-month low of 2.451%, in the wake of the Federal Reserve's dovish message, in which the central bank cut its outlook for economic growth and inflation, as well as its projections for interest-rate hikes to none from two. Lower Treasury yields can hurt bank profits, as they narrow the spread between what banks earn on longer-term assets, like loans, that are funded by shorter-term liabilities.
NYSE:XLF March 21, 2019 1:13pm

Airline stocks drop on concerns about the grounding of Boeing’s MAX jets linger

boeing stock
From Tomi Kilgore: Airline stocks fell Monday, bucking the gains seen in the broader market, as concerns over the negative impact from the grounding of Boeing Co.'s BA, -2.00%737 Max jets linger. The NYSE Arca Airline Index XAL, -0.67% dropped 0.9%, as air carrier stocks paced the Dow Jones Transportation Average's DJT, +0.78%decliners. Among the leading losers, shares of JetBlue Airways Corp.JBLU, -0.81% gave up 1.5%, United Continental Holdings Inc. UAL, -1.21% lost 1.0%, American Airlines Group Inc. ALL, +0.25% slumped 0.9%, Delta Air Lines Inc. DAL, -0.89% fell 0.8%, Alaska Air Group Inc. ALK, +0.02% declined 0.4% and Southwest Airlines Co. LUV, -0.11% slipped 0.2%. Analyst Jamie Baker at J.P. Morgan said Monday he believes the grounding of the 737 Max jets "is largely immaterial to most North American airlines." He said if there is a protracted grounding, it could end up being positive for the industry, except for Southwest, which has the largest 737 Max fleet, because it could lead to further consolidation. While the airline stocks fell, the Dow transports rose 0.4% and the S&P 500 SPX, +0.26% gained 0.1%.
NYSE:JETS March 18, 2019 2:40pm

S&P 500 falls below the 200-day moving average

s&p500
From Tomi Kilgore: The S&P 500 SPX, -0.58% has slipped below the 200-day moving average (DMA) in morning trade Thursday for the first time in three weeks, which could put a bearish spin on the stock market's outlook for some chart watchers. The 200-DMA, which currently extends to 2,750.81 according to FactSet, is viewed by many technicians as a line separating longer-term uptrends from downtrends. The last time the S&P 500 traded below the 200-DMA on an intraday basis was Feb. 14, while the last close below it was Feb. 11. Meanwhile, the Nasdaq Composite COMP, -0.56% was currently below its 200-DMA, which extended to 7,479.96, while the Dow Jones Industrial Average DJIA, -0.81% was still above its 200-DMA, which was currently at 25,125.54.
NYSE:SPY March 7, 2019 11:45am

S&P 500 earnings outlook on pace towards its first decline in 3 years

s&p 500
From Tomi Kilgore: It wasn't a great week for fourth-quarter earnings, as the growth outlook pulled back a bit and the outlook for the first quarter fell deeper into the red, which would mark the first year-over-year decline in nearly three years, if it holds.
NYSE:SPY February 15, 2019 12:21pm

Oil prices move higher on reports of supply cuts

oil pump
From Tomi Kilgore: Shares of oil and gas companies were broadly higher Wednesday, as reports of supply cuts and optimism on U.S.-China trade talks helped fuel a rally in crude oil prices. The energy sector was the best performing of the S&P 500's 11 key sectors, with the SPDR Energy Select Sector ETF XLE, +0.95% climbing 2.0% with all 30 equity components gaining ground. The biggest gainer was Newfield Exploration Co.'s stock NFX, +7.69% which ran up 4.5%. Among other more-active components, shares of Marathon Oil Corp. MRO, +0.42% advanced 2.5%, Kinder Morgan Inc. KMI, +1.27% rose 1.5%, Exxon Mobil Corp. XOM, +0.55%tacked on 1.2%, Schlumberger NV SLB, +1.26% climbed 2.3%, and Chevron Corp.CVX, +0.31% gained 1.3%. Meanwhile, crude oil futures CLH9, +2.07% ran up 2.0%. The energy ETF has hiked up 13.9% year to date, while the S&P 500SPX, +0.27% has rallied 10.1%.
NYSE:USO February 13, 2019 1:23pm

Chip Stocks slide after Nvidia’s warning

nvidia stock
From Tomi Kilgore: Semiconductor stocks took a premarket dive Monday, after Nvidia Corp.NVDA, -15.02% cut its fourth-quarter revenue and gross margin outlook, citing weakness in its gaming and datacenter businesses. Shares of Advanced Micro Devices Inc. AMD, -7.11% sank 7.3% ahead of the open, after being down 0.5% just prior to Nvidia's warning, while Intel Corp.'s stock INTC, -1.46% dropped 2.0%, extended a loss of 0.8% just before the warning. Last week, Intel reported fourth-quarter total revenue, including data center revenue, that missed expectations. Micron Technology Inc. shares MU, -2.25% fell 5.4%, after being down 1.1% just before Nvidia's warning. Nvidia's stock plunged 15% in premarket trade, while the VanEck Vectors Semiconductor ETF SMH, -2.17% dropped 4.0%. The chip ETF has rallied 8.0% over the past three months, while the S&P 500SPX, -1.16% has edged up 0.2%.
NYSE:SMH January 28, 2019 1:31pm

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