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Traders work on the floor of the New York Stock Exchange during morning trading on September 04, 2024 in New York City.
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Here’s what CNBC TV’s producers were watching during Tuesday’s trading and what’s on the radar for the next session.
The Fed
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Housing in the U.S.A.
The face of fear
- “Fast Money” did a good bit led by chartmaster Carter Worth Tuesday night.
- He chartered three defensive sectors: utilities, real estate investment trusts and consumer staples. He compared them to the S&P 500 and showed them vastly outperforming, about as “far above trend using the 150-day moving average than at any time on record.”
- The S&P utilities sector currently has a relative strength index of 76. An RSI reading above 70 generally means that a security is overbought. It’s no guarantee that it’s about to fall. Rather, the RSI is just one metric traders look at when determining how fast an asset is moving one way or the other. An RSI below 30 generally means that the asset is oversold.
- Utilities are up 25% in six months. The S&P tech sector is up more than 12% in six months.
- The S&P real estate sector also has an RSI above 70. It is up roughly 18% in three months, while tech is down 4.5% in that same time period.
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Paid up
- Visa, Mastercard and American Express all hit 52-week highs today.
- Visa is up 9% in a month.
- Mastercard is up about 7% in a month.
- American Express is up 5.4% in a month.
The equal-weight S&P 500
General Mills
- The consumer brands company is up 12.4% in the past three months.
- General Mills reports Wednesday morning before the bell.
- The stock is paying a 3.2% dividend as of Tuesday’s close.