Pfizer (PFE), a Dow Jones Industrial stock moved above $40.40 to an all-time high extending an intermediate uptrend. The stock responded to news that the United Kingdom has given fast track approval for Pfizer's COVID 19 vaccine.
Advanced Micro Devices (AMD), a NASDAQ 100 stock moved above $94.28 to an all-time high extending an intermediate uptrend.
Pre-opening Comments for Wednesday December 2nd
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade.
Index futures were virtually unchanged following release of the November ADP Private Employment report at 8:15 AM EST. Consensus was an increase to 410,000 from 404,000 in October. Actual was 307,000.
Royal Bank (RY Cdn$107.04) is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings.
NetApp (NTAP $54.16) is expected to open higher after reporting higher than consensus third quarter sales and earnings.
Slack slipped $0.36 to $43.49 despite Salesforce.com announcing a $27.7 billion offer to acquire the company in a cash and share exchange deal valued at $45.54 per share.
Pfizer added $1.24 to $40.65 after the United Kingdom issued fast track emergency approval for Pfizer's COVID 19 vaccine.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/12/01/stock-market-outlook-for-december-2-2020/
Note seasonality chart on U.S. Construction Spending.
Technical Comments for Tuesday December 1st
ETF tracking the S&P 500 Index (SPY) moved above $364.38 to an all-time high extending an intermediate uptrend.
NASDAQ 100 Index and its related ETF: QQQ moved above 12,439.48 to all-time highs extending an intermediate uptrend.
NASDAQ Biotech ETF (IBB) moved above $146.46 to an all-time high extending an intermediate uptrend.
TSX Technologies iShares (XIT.TO) moved above $43.34 to an all-time high extending an intermediate uptrend.
BlackBerry (BB.TO), a former TSX 60 stock and part of the TSX Technology Index moved above several previous resistance levels. BlackBerry Ltd. surged the most ever after the wireless company signed a multiyear agreement with Amazon Web Services to develop and market its "Intelligent Vehicle Data Platform," called IVY.
Pfizer (PFE), a Dow Jones Industrial stock moved above $40.40 extending an intermediate uptrend.
Charter Communications (CHTR), a NASDAQ 100 stock moved above $663.70 to an all-time high extending an intermediate uptrend.
A break below intermediate support by the U.S. Dollar Index prompted strength in the Euro above 120.11
The break in the U.S. Dollar Index also prompted a bump in gold prices, gold stock prices and related ETFs. Mark Leibovit offered a short term favourable outlook for the sector. He noted," ADDING TO POSITIONS IN AG, GOLD, DRD, BTG, GDX, GDXJ AND CEF AS IT APPEARS WE’VE SEEN A LOW (MAYBE THE BIG LOW) IN GOLD".
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for December 1st 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 1st 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 1st 2020
Green: Increase from previous day
Red: Decrease from previous day
Disclaimer: Seasonality 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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