Intraday Record Despite Inflation Data

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Posted: Jul 13, 2021 1:42 PM
Intraday Record Despite Inflation Data

Source: AP Photo/Richard Drew

Stocks were mixed today after the Consumer Price Index showed inflation remained hot. Now that earnings season has started, we will be listening to what companies are saying about their costs and price pass-throughs.

By noon, only the Dow Jones is in red. Nasdaq is leading, up 0.39%, and S&P is up 0.09%, both notched another intraday record.

Technology is the best performing sector as heavy hitters are trading at all-time highs. Apple (AAPL) and Microsoft (MSFT) each gained more than 1%.

S&P 500 Index

+0.10%

 

Communication Services XLC

+0.41%

 

Consumer Discretionary XLY

 

-0.10%

Consumer Staples XLP

+0.44%

 

Energy XLE

 

-0.53%

Financials XLF

 

-1.19%

Health Care XLV

+0.01%

 

Industrials XLI

 

-0.59%

Materials XLB

 

-0.77%

Real Estate XLRE

 

-0.54%

Technology XLK

+1.06%

 

Utilities XLU

+0.75%

 

 

Volume is weak this afternoon with advancers unable to outrun decliners.

Market Breadth

NYSE

NASDAQ

Advancing

1,043

1,330

Declining

2,154

2,805

52 Week High

111

115

52 Week Low

12

46

Up Volume

591.15M

1.53B

Down Volume

1.29B

1.03B

We are watching for revenue guidance and CEO expectations on rates and inflation. Stay tuned.