Equity

Stocks Mixed Ahead of Thanksgiving

Posted 11/25/2020 9:30AM CTJeff Yasak

The U.S. stock markets are mixed this morning with a dip in the Dow and a Nasdaq rally.

The markets opened today with the Dow taking a break after it traded above 30,000 on Tuesday and the Nasdaq climbing above 12,000.  The market reacted to government numbers released today before the Holiday.  The Department of Labor reported jobless claims had risen to 778,000 opposed to an economic prediction of 730,000. The Commerce Department also released their own data with numbers on GDP and durable goods.  GDP growth was stable with 33.1% annualized rate, the deepest since the government started keeping this data in 1947. Durable goods orders were higher than expected up 1.3%% in October which was below September’s 2.1% but well above the .09% predicted number.  New home sales fell by 0.3% to an adjusted rate of 999,000 units last month, although lower than last month it still beat expectations by 27,000.

Have a healthy and safe Thanksgiving.

Support is checking in today at 360000 and 355500 with resistance at 366500 and 368500.

E-mini S&P 500 Dec ’20 Daily Chart
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Jeff Yasak

Senior Market Strategist
Since leaving the corporate world in 1995, Jeff has established a name for himself as a trusted financial advisor and trading advocate—leveraging his studies in finance from the University of Wisconsin-Madison and Loyola University, 25+ years of experience, and a passion for the industry to guide both novice and experienced traders in pursuit of achieving their own financial reward. Jeff began his career as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange—fostering a deep interest in the options market that eventually drove him into the retail futures sector where he spent several years as a broker’s assistant before taking on clients of his own. Operating at the intersection of strategy and success, Jeff seeks to establish meaningful relationships with clients—synthesizing financial data and offering timely insight that informs critical decision-making surrounding money management and trading activities. Well-versed in the futures, securities, equities, and indices markets, Jeff is uniquely positioned to direct his clients to success. With a carefully cultivated combination of experience and expertise, he is able to connect with clients to better understand their goals and offer sound financial guidance that delivers notable bottom-line results.
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