Monday, September 25, 2023

Morning Note: Sector, Region and Asset Class Results Update

 Here's your weekly sector, region and asset class results update:

Asian stocks were mixed overnight, with 8 of the 16 markets we track closing lower.

Europe's red so far this morning, with 16 of the 19 bourses we follow trading down as I type.

US equity averages are down to start the session: Dow by 74 points (0.22%), SP500 down 0.36%, SP500 Equal Weight down 0.40%, Nasdaq 100 down 0.49%, Nasdaq Comp down 0.53%, Russell 2000 down 0.48%.

As for last Friday’s session, US equity averages closed lower: Dow by 0.3%, SP500 down 0.2%, SP500 Equal Weight down 0.4%, Nasdaq 100 down 0.1%, Nasdaq Comp down 0.1%, Russell 2000 down 0.3%.

This morning the VIX sits at 18.30, up 6.40%.

Oil futures are up 0.31%, nat gas futures are up 0.59%, gold's down 0.06%, silver's down 0.51%, copper futures are down 0.34% and the ag complex (DBA) is down 0.50%.

The 10-year treasury is down (yield up) and the dollar is up 0.24%.

Among our 35 core positions (excluding options hedges, cash and money market funds), 3, URNM (uranium miners), XLE (energy stocks) and OIH (oil services companies), are in the green so far this morning... The losers are being led lower by VNM (Vietnam equities), MP Materials, TLT (long-term treasuries), XBI (biotech stocks) and Albemarle.

"Because we are staring, as it were, at certain features of the landscape, we don't see the background." --Alan Watts

Have a great day!

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