D&D Note (2.23.2018) ~ Markets Rally as Yields Fall ~

D&D Note (2.23.2018) ~ Markets Rally as Yields Fall ~

Today we bucked the weekly trend and finished the session with a strong rally into the close as the 10YR yield fell below 2.9%. Amazon finished at an all time high of exactly $1,500 as today was an options expiration closing right at the strike price.

Pot stocks are currently retesting lows. At the close IMLFF reversed from being down a few percent to closing up 5.18%. We wouldn’t be surprised to see the rest of the basket of stocks rebound next week off these lows.

Cloud filing sharing company Dropbox as finally announced it will go public with an IPO. The company announced they now have over $1.1 billion in annual revenue.

Gun stocks are under pressure still after the most recent mass shooting. First National Bank of Omaha announced it will revoke the official NRA credit card which they had been issuing. Hertz rental cars also announced it would end its discount for NRA card holders. Metlife and Chubb insurers also ended its partnerships with the NRA. Symantec also ended its discount partnership with the NRA.

D&D movers:

– IMLFF up 5.18%

– TSM up 3.56%

– PYPL up 2.56%

– BABA up 2.41%

– CNTTF down -4.26%

– EMHTF down -2.86%

– APHQF down -1.97%

– TWMJF down -1.34%

Indexes

– DOW up 1.39%

– NASDAQ up 1.77%

– S&P up 1.60%

Sector Movers:

– Utilities up 2.66%

– Energy up 2.20%

– Technology up 2.17%

– No sectors finished lower on the day

Notes

– US 2-YR 2.242% (down -0.012)

– US 10-YR 2.868% (down -0.049)

– US 30-YR 3.156% (down -0.05)

Volatility

– VIX 16.48 (down -11.97%)

Crypto (1:00 PST)

– BTC $9,999.03

– ETH $837.00

– BCH $1,236.00

– LTC $203.35

Metals

– Gold $1,330.90 down -0.14%

– Silver $16.485 down -0.61%

– Copper $3.2095 down -0.99%

Energy

– Oil $63.54 up 1.23%

– Brent $67.34 up 1.43%

– Nat Gas $2.63 down -0.15%