** The Philadelphia Semiconductor index was down 0.4% on Tuesday with its star year-to-date performer Nvidia taking a break from advancing on the last day of the year with a decline of 1.3%
** Conversely, Intel the index's biggest decliner for the year-to-date, was its biggest gainer on the day, up 0.9%
** Bespoke Investment Group pointed out that the SOX 50-day moving average $(DMA)$ had crossed below the 200-DMA and that "following prior downside crosses after more than a year when the 50-DMA was above the 200-DMA, performance for the SOX and the broader market was weak over the next month."
** LSEG data shows the SOX 50-DMA last below the 200-DMA in late January 2023
** YTD the SOX was last up close to 20% while NVDA was up 174% YTD and INTC was down ~60%. These compare with the Nasdaq composite's >29% YTD gain and the S&P 500's >23% advance so far in 2024
** As for its ranking in the S&P 500, Nvidia is the third biggest percentage gainer for the year with software company Palantir adding almost 349% and electrical utility Vistra Corp rising 260%
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.