Most indices were higher across the board on Thursday.
Below are highlights from the NDW Morning Update Video for the morning of 6/26. Access the the video on the NDW Morning Update Video page.
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Markets were higher across the board Thursday, with the major exception coming from some of the market's largest companies. Apple (AAPL) fell 6.12% after increasing product prices across the board to keep up with memory prices. Meanwhile, the Roundhill Magnificent Seven ETF (MAGS) fell 2.57%, and is now down 7.4% YTD, which is 24% lower than the Nasdaq-100 (NDX).
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Memory chip companies continue to be some of the hottest companies in the market, with the Roundhill Memory ETF (DRAM) rising another 10% on the day, led by a 15.74% gain from Micron Technologies (MU).
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The bulls are back in town. Among respondents to the AAII sentiment survey, 45% think the market will move higher over the next six months, compared to 35% who expect it to move lower, which is the most bullish reading in over two months.
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While bonds were relatively subdued on the day, the iShares US Core Bond ETF (AGG) moved to its first buy signal since August, flipping its trend back to positive. That said, fixed income remains unfavored at the bottom of DALI, and AGG holds a fund score of only 0.81.
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Momentum had another solid day, with iShares MSCI USA Momentum Factor ETF (MTUM) rising 3.32%. MTUM is now up more than 35% YTD, outpacing the S&P 500 (SPX) by 28.1%, which would be the widest margin in favor of momentum stocks on record for a calendar year.
