U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points at 8:30 AM EST.
CVS Health gained $1.92 to $70.40 after offering positive fourth quarter 2023 and 2024 guidance. The company also raised its quarterly dividend by 10%.
JM Smucker added $3.37 to $115.80 after reporting higher than consensus third quarter earnings.
Design Brands dropped $4.16 to $8.65 after reporting lower than consensus third quarter results. The company also lowered guidance.
Lululemon dropped $2.64 to $458.12 after Raymond James lowered its rating from Strong Buy to Outperform.
Technical Notes
Retail SPDRs $XRT moved above $67.66 extending an intermediate uptrend. Lowe's $LOW an S&P 100 stock moved above $206.26 setting an intermediate uptrend. Target $TGT moved above intermediate resistance at $135.70.
Healthcare SPDRs $XLV moved above intermediate resistance at $131.92. Strength in the healthcare sector was led by strength in its biotech subsector. Biotech ETF $BBH moved above $153.19 completing a double bottom pattern.
S&P Bank SPDRs $KBE moved above $42.17 extending an intermediate uptrend.
India ETF $PIN moved above $23.57 to an all-time high extending an intermediate uptrend.
TSX Cap REIT iShares $XRE.TO moved above Cdn$15.25 completing a reverse Head & Shoulders pattern.
BCE $BCE.TO a TSX 60 stock moved above Cdn$54.72 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.4th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for Dec.4th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.4th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Top Picks by Hap Sneddon from CastleMoore on BNN's Market Call
https://www.bnnbloomberg.ca/hap-sneddon-s-top-picks-december-4-2023-1.2007070
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S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.80 to 85.20. It remains Overbought.
The long term Barometer added 0.60 to 67.20. It remains Overbought. Daily trend remains up.
TSX Momentum Barometers
The intermediate term Barometer added 0.44 to 74.01. It remains Overbought. Daily trend remains up.
The long term Barometer dropped 2.20 to 53.74. It remains Neutral.
Disclaimer: Seasonality ratings and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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