Market Overview

UPDATE: TD Ameritrade Says IMX for Mar. Up to 5.87


The IMX rose to 5.87 in March, marking the sixth consecutive increase and a new all-time high.

The S&P 500 climbed to a new record early in the month, but then took a few steps down to eventually close the month relatively flat compared to February. Overall, TD Ameritrade clients were net buyers in March as they continued to increase their exposure to the equity markets. Net buying activity was strongest during the second week of March, when the S&P 500 declined amid rising political tensions over Crimea and concerns of a potential economic slowdown in China. The technology and healthcare sectors were popular buys, while consumer goods stocks were net sold. Net selling in mutual funds and ETFs that focus on International stocks continued as well.

Trading Biotech and social media stocks were volatile in March, and clients seemed to view the declines as a buying opportunity for some specific names, including Gilead Sciences (NASDAQ: GILD) and Facebook (NASDAQ: FB). Green energy companies - such as Fuel Cell (NASDAQ: FCEL) and Plug Power (NASDAQ: PLUG) - were also popular buys in March. Well-known dividend-paying names including Kinder Morgan Energy Partners (NYSE: KMP), Kinder Morgan Inc. (NYSE: KMI), and Verizon (NYSE: VZ) saw net buying activity; all three had dividend yields over 4%.

Additional popular names bought included Google (NASDAQ: GOOG), Tesla (NASDAQ: TSLA), and Disney (DIS).

Selling in the consumer goods sector was largely led by net selling in Apple (NASDAQ: AAPL), which was range-bound over the month. Issuer's trading at or near their 52-week highs were also popular sells. These included Caterpillar (NYSE: CAT), Alcoa (NYSE: AA), and Microsoft (NASDAQ: MSFT). Although clients were net buyers of the technology sector overall, some widely held technology names were net sold, including Intel (NASDAQ: INTC) and International Business Machines (NYSE: IBM). International Business Machines (IBM) has recently risen from the low end of a two-year range.

Additional popular names sold include Home Depot (NYSE: HD), Corning (NYSE: GLW), Citigroup (NYSE: C), and Sirius XM (NASDAQ: SIRI).

Posted-In: News Econ #s Markets


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