The major indices opened down sharply on economic news and a tweet from President Trump throwing out a tweet about delaying the election. Since then, U.S. Representative Davis, the top Republican on the House Administration Panel, along with Republican Senators Cruz, Rubio, and Tillis have come out and stated there will be no delay in the 2020 election. Senate Majority Leader Mitch McConnell also responded that the election date is “set in stone.”
The markets signed a breath of relief, and buyers have once again emerged, with the Nasdaq now positive.
All 11 sectors of the S&P 500 are still in the red, with Energy getting hit hard, as WTI declines 3.44% to falling below $40.
S&P 500 Index
Communication Services (XLC)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Health Care (XLV)
Real Estate (XLRE)
Breadth is negative, while the advancing volume outpaces the declining on the Nasdaq.
52 Week High
52 Week Low
Investors are now waiting on 4 of the FAANG stocks, Apple (AAPL), Amazon (AMZN), Facebook (FB), and Alphabet/Google (GOOG/L) to report after the bell. After all were down on the day earlier, they are now positive.