Indexes Hold Near Highs: Tesla, Palantir, Marriott In Focus | Stock Market Today | Summary and Q&A

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November 28, 2023
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Investor's Business Daily
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Indexes Hold Near Highs: Tesla, Palantir, Marriott In Focus | Stock Market Today

TL;DR

The market shows signs of plateauing, but remains near highs due to continual push from falling treasury yields. Investors may consider trimming winners and adjusting strategies.

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Questions & Answers

Q: Why is the market showing signs of plateauing?

The market is showing signs of plateauing as there have been indications of overbought conditions and investors are waiting for a potential pullback. However, falling treasury yields continue to push the market up.

Q: How should investors think about trimming winners during a sideways market?

In a sideways market, investors should consider evaluating the exposure and performance of their stocks. If some stocks are highly extended or lagging, it may be wise to trim them. Additionally, the investor's strategy and goals should be taken into account.

Q: What are the major indexes finding as a floor in their sideways action?

The major indexes are finding support at their early September or late August highs, as well as the 10-day moving average. These levels serve as a floor for the market's pause.

Q: What is driving the slide in the 10-year treasury yield?

The slide in the 10-year treasury yield is driven by indications of decreasing inflation and expectations of rate cuts. Fed officials have expressed confidence in inflation coming down, leading to expectations of rate cuts and a decline in treasury yields.

Summary & Key Takeaways

  • The major indexes, including the NASDAQ, S&P 500, and Dow Jones, showed sideways action and held near their highs.

  • Treasury yields continue to fall, pushing the market up despite signs of overbought conditions.

  • Investors may consider trimming winners and adjusting strategies as the market pauses.

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