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While we wait AMD and MTCH, mkt recap for today…
QQQs finished up 50bps with SOX up 1% and ARKK up 2.2%. Breadth was good with equal weighted S&P and R2K outperforming the indexes. Treasuries were roughly flat, DXY spiked 50bps, and crude fell 1%. Another day with a bit better price action despite large cap lagging on the day.
In internet, unlike yesterday, large cap underperformed – the yoyo of factor out/under performance continues. AMZN up 30bps with more follow through and GOOGL dn 30bps. META underperformed down 50bps – not a lot of chatter out there put I posted in the chat that PDD has been very weak past couple days on the back of weaker singles day sales – not sure if some are extrapolating that to mean less $ to go around to spend on their U.S. expansion, which would hit META spend (bit of a stretch passing along fwiw). Home buyer names t…
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