Market Overview

USA TD Ameritrade's Investor Movement Index for Nov 5.42 vs 5.07 Prior

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The IMX rose for the second consecutive month as a result of increased equity market exposure and low market volatility.

The IMX increased by 0.35 points month over month to 5.42. This is the second highest reading in the IMX's almost 4-year history, and the highest level since June 2011. TD Ameritrade clients' equity market exposure increased in part due to net buying activity that included U.S. stock-based mutual funds and exchange-traded funds. Recently broad market volatility has been low, but specific names our clients chose to hold provided more volatility than the general market, which increased their exposure to equity market movements.

Some widely held names included General Electric (NYSE: GE), Apple (NASDAQ: AAPL), Facebook (NASDAQ: FB), Cisco (NASDAQ: CSCO), and Microsoft (NASDAQ: MSFT).

Tesla (NASDAQ: TSLA), Salesforce (NYSE: CRM), and Cisco were volatile in November and many TD Ameritrade clients appear to have treated the price declines as buying opportunities. Clients were also net buyers of Gilead Sciences (NASDAQ: GILD), which saw a dip in price after announcing earnings. Twitter (NYSE: TWTR) was also a popular buy as clients began to build positions following the company's initial public offering.

Additional popular names bought included: JC Penney (NYSE: JCP), Whole Foods Market (NASDAQ: WFM), Boeing (NYSE: BA), and Starbucks (NASDAQ: SBUX).

Clients were net sellers of Apple (NASDAQ: AAPL), which was range-bound most of November after reaching a 10-month high in October. Many clients dialed back positions in Pfizer (NYSE: PFE), as it reached a new 52-week high. Clients were net sellers of Microsoft (NASDAQ: MSFT), which rallied following earnings - eventually reaching its highest level since 2000, during the dot-com boom. Exxon Mobil (NYSE: XOM) was also a net sell after its priced surged following an earnings announcement.

Additional popular names sold included: Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Oracle (NASDAQ: ORCL).

Posted-In: News Futures Econ #s Economics Markets


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