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Entrepreneur
Kurra Bewarse
Username: Entrepreneur

Post Number: 3946
Registered: 05-2011
Posted From: 24.164.46.35

Rating: N/A
Votes: 0

Posted on Thursday, January 20, 2022 - 2:14 pm:   

Sector Briefing: Technology (162.38 +2.86)

All eleven sectors display early gains with top-weighted technology (+1.8%) holding the lead while six other groups are also up at least 1.0%.

Key factors driving today's performance include:

Leadership from growth stocks, as they rebound from recent weakness despite higher Treasury yields. While yields on most tenors are slightly higher on the day, they are holding below yesterday's highs, inviting speculation that the bond market is also looking to bounce.
Underperformance among chipmakers. The PHLX Semiconductor Index is up 1.1%, narrowing this week's loss to 6.4% versus a 2.1% week-to-date loss in the tech sector and a 1.5% week-to-date loss in the S&P 500 (+1.4%).
Notable movers:

Enphase Energy (ENPH 142.69, +8.11, +6.0%): best performer in the sector, bouncing off its lowest level since early June. Company said that the demand for its products has been growing in Washington state.
F5 Networks (FFIV 233.07, +10.27, +4.6%): rallying back above its 50-day moving average (232.95).
PayPal (PYPL 179.59, +6.04, +3.5%): bouncing off its lowest level since late September.
Accenture (ACN 355.36, +11.62, +3.4%): bouncing off its lowest level since late October.
Mastercard (MA 372.26, +11.53, +3.2%): bouncing off its 200-day moving average (360.77).
Adobe (ADBE 529.43, +12.85, +2.5%): revisiting yesterday's intraday high. Company director reported selling about $2 mln worth of stock.
Microsoft (MSFT 310.65, +7.32, +2.4%): rising into the top half of yesterday's range.
Apple (AAPL 169.54, +3.31, +2.0%): rallying off a five-week low back above its 50-day moving average (168.17).
NVIDIA (NVDA 255.72, +5.05, +2.0%): bouncing off its lowest level since late October.
Oracle (ORCL 84.47, +1.09, +1.3%): bouncing off its lowest level since early July.
Qualcomm (QCOM 174.65, +2.18, +1.3%): bouncing off its lowest level since mid-November.
Intel (INTC 54.06, +0.44, +0.8%): bouncing off a ten-day low toward its 200-day moving average (54.42).
Micron (MU 89.98, -0.02, unch): fell toward its 50-day moving average (86.92) before narrowing its loss.
AMD (AMD 127.73, -0.54, -0.4%): weakest performer in the sector, touched its lowest level since early November before narrowing its loss. Piper Sandler downgraded the stock to Neutral from Overweight with a $130 target.

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