{"id":23313,"date":"2024-05-13T09:38:07","date_gmt":"2024-05-13T14:38:07","guid":{"rendered":"https:\/\/www.eoption.com\/mid-morning-look-may-13-2024\/"},"modified":"2024-05-13T09:38:07","modified_gmt":"2024-05-13T14:38:07","slug":"mid-morning-look-may-13-2024","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/mid-morning-look-may-13-2024\/","title":{"rendered":"Mid-Morning Look: May 13, 2024"},"content":{"rendered":"\n
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Mid-Morning Look<\/span><\/b><\/p>\n

Monday, May 13, 2024<\/span><\/b><\/p>\n\n\n\n\n\n\n\n
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Index<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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%<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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DJ Industrials<\/span><\/b><\/p>\n<\/td>\n

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67.54<\/span><\/p>\n<\/td>\n

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0.17%<\/span><\/p>\n<\/td>\n

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39,579<\/span><\/p>\n<\/td>\n<\/tr>\n

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S&P 500<\/span><\/b><\/p>\n<\/td>\n

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4.30<\/span><\/p>\n<\/td>\n

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0.08%<\/span><\/p>\n<\/td>\n

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5,227<\/span><\/p>\n<\/td>\n<\/tr>\n

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Nasdaq<\/span><\/b><\/p>\n<\/td>\n

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37.34<\/span><\/p>\n<\/td>\n

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0.23%<\/span><\/p>\n<\/td>\n

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16,378<\/span><\/p>\n<\/td>\n<\/tr>\n

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Russell 2000<\/span><\/b><\/p>\n<\/td>\n

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20.90<\/span><\/p>\n<\/td>\n

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1.01%<\/span><\/p>\n<\/td>\n

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2,080<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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U.S. stocks open the week higher, adding to last week gains as the Dow looks to make it a 9th<\/sup> straight day of gains into key inflation data this week. The S&P is up more than 5% since April 19 and sits less than 1% from its late March all-time high. <\/p>\n

Lots of strength this morning in US listed China stocks, with likes of BABA (reports tomorrow), BIDU (reports this week), NIO, PDD, JD all seeing strength.  Communications (XLC) the only S&P sector lower amid weakness in META, GOOGL as both are down over 2%. The other big movers this morning are high short interest related stocks, led behind the original \u201cmeme\u201d stock of all time, with GME shares up over 100% this morning after \u201cRoaring Kitty\u201d is back whose bullish analysis of the video-game retailer GameStop on Reddit during the pandemic created a national phenomenon, made his first social media post on the X service in three years, in a cryptic post meant to show he was paying attention. This post alone has boosted shares and renewed interest in many of the names that currently have high \u201cshort interest\u201d. The news comes after a week of light market volumes and news, as investors eagerly await key inflation data tomorrow (PPI) and Wednesday (CPI) along with retail sales data for April and a handful of large cap retail earnings this week with Wal-Mart and Home Depot results expected. <\/p>\n

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Macro<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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WTI Crude<\/span><\/b><\/p>\n<\/td>\n

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1.15<\/span><\/p>\n<\/td>\n

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79.41<\/span><\/p>\n<\/td>\n<\/tr>\n

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Brent<\/span><\/b><\/p>\n<\/td>\n

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0.87<\/span><\/p>\n<\/td>\n

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83.66<\/span><\/p>\n<\/td>\n<\/tr>\n

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Gold<\/span><\/b><\/p>\n<\/td>\n

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-23.50<\/span><\/p>\n<\/td>\n

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2,351.50<\/span><\/p>\n<\/td>\n<\/tr>\n

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EUR\/USD<\/span><\/b><\/p>\n<\/td>\n

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0.0033<\/span><\/p>\n<\/td>\n

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1.08.02<\/span><\/p>\n<\/td>\n<\/tr>\n

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JPY\/USD<\/span><\/b><\/p>\n<\/td>\n

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0.18<\/span><\/p>\n<\/td>\n

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155.90<\/span><\/p>\n<\/td>\n<\/tr>\n

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10-Year Note<\/span><\/b><\/p>\n<\/td>\n

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-0.029<\/span><\/p>\n<\/td>\n

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4.475%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Sector Movers Today<\/p>\n