US Stock Market Sector Analysis – Wednesday, September 04, 2024
MIXED
The US stock market opened on a risk-off tone after a sharp NVDA-related technical alert and a mixed earnings backdrop. The headline was the [MEDIUM] NVDA down -18.3% from 20-day high alert, which rippled through chip supply chain and chip equipment names while Tesla (TSLA) led gains with a +4.2% jump to $219.41. Cybersecurity weakness was acute today as Zscaler (ZS) plunged -18.7% to $157.13, dragging the Cybersecurity sector down 8.0% for the session. Overall breadth was split: 8 sectors up, 9 down and 7 flat, and the Mag 7 (AI Spenders) group slipped -0.1% on the day despite pockets of strength.
Market Condition Dashboard
US 10-Year Treasury Yield
Neutral
3.77%
falling
Impact
Confidence
Crude Oil (WTI)
Neutral
$69.20
-1.6% 1D
Impact
Confidence
VIX (Fear Index)
Elevated Caution
21.3
+2.9% 1D
Impact
Confidence
Put/Call Ratio (5D)
Caution
0.75
Call-Heavy · stable
Impact
Confidence
Signal analysis only — not investment advice
Sector Performance (Base=100)
AI and Technology Sector Analysis
AI-related positioning showed bifurcation between compute beneficiaries and software/infrastructure names after the NVDA alert. NVIDIA (NVDA) $106.04 remains the fulcrum — the alert tightened risk premia for chip equipment players like ASML (ASML) $799.14 while chip supply chain desks watched AMD $140.87 rally on relative strength. Large AI spenders such as Microsoft (MSFT) $403.30 and Amazon (AMZN) $173.33 held near-term pressure as investors rotated into select infrastructure and enterprise software beneficiaries like IBM (IBM) $194.86.
US Stock Sector Overview
Sector
1D
5D
20D
vs 50MA
Mag 7 (AI Spenders)
-0.1%
-2.2%
+5.6%
BELOW
Chip Supply Chain
+0.1%
-2.3%
+10.5%
BELOW
Infrastructure
-1.6%
-3.0%
+8.8%
BELOW
Enterprise Software
+0.2%
+0.4%
+9.7%
ABOVE
Finance
+0.1%
-1.4%
+6.9%
BELOW
Healthcare
-0.1%
+1.2%
+14.7%
ABOVE
Retail
+0.7%
+0.9%
+12.8%
ABOVE
IT Services
+1.0%
+2.4%
+9.2%
ABOVE
Airlines
+0.3%
+5.8%
+13.7%
ABOVE
Hospitality & Travel
-0.5%
-0.8%
+11.0%
ABOVE
Food & Restaurant
-0.0%
-1.1%
+15.5%
ABOVE
Logistics
+0.4%
+0.1%
+5.6%
BELOW
Industrial
-0.3%
-1.5%
+3.9%
BELOW
Cybersecurity
-8.0%
-7.4%
+6.9%
BELOW
Chip Equipment
-1.6%
-6.4%
+0.5%
BELOW
Data Center REITs
-0.5%
+0.5%
+4.0%
BELOW
Utilities
+0.9%
+3.5%
+4.1%
ABOVE
Energy
-1.5%
-2.4%
+0.1%
BELOW
Defense & Aerospace
+0.4%
+0.6%
+4.8%
ABOVE
Telecom
-1.2%
+0.9%
+4.8%
ABOVE
Media & Entertainment
+0.4%
-0.4%
+7.5%
BELOW
Biotech
-0.3%
+0.5%
+6.7%
ABOVE
Materials
-0.2%
-0.3%
+3.1%
ABOVE
Analog & Embedded Chips
+0.9%
-2.5%
+9.1%
BELOW
Sector Strength
IT Services+1.0%20d: +9.2%
IBM +1.4% (20d: +10.2%), Accenture (ACN) +0.6% (20d: +8.2%)
Utilities+0.9%20d: +4.1%
NextEra Energy (NEE) +1.4% (20d: +5.2%), Duke Energy (DUK) +1.1% (20d: +4.1%), Southern Co (SO) +0.2% (20d: +3.0%)
Chip Supply Chain: Today the Chip Supply Chain average finished up +0.1% but showed mixed internals as AMD advanced +2.9% to $140.87 while Intel (INTC) reversed -3.3% to $19.43. Over the 50-day window the group sits BELOW its 50MA, signaling that short-term momentum is weaker despite pockets of strength; traders are parsing NVDA flow (NVDA $106.04) and equipment order chatter for direction. Relative strength in select foundry/compute suppliers contrasts with pressure on legacy CPU names, underlining a rotation toward AI-capable wafer and packaging suppliers.
Chip Equipment & Infrastructure: Chip Equipment fell -1.6% on the day with ASML (ASML) down -4.0% to $799.14 and Infrastructure names like Super Micro (SMCI) slid -4.1% to $42.35. This 50-day trend is BELOW the 50MA for the equipment cluster, and the NVDA alert amplified downside in capital expenditure- linked names as order visibility for upgrades tightened. The divergence between equipment weakness and spare-parts beneficiaries suggests near-term capex timing is being re-priced by market participants.
Cybersecurity: Cybersecurity led decliners, plunging -8.0% driven by an outsized move in Zscaler (ZS) which dropped -18.7% to $157.13; the sector sits BELOW its 50MA over the last 50 days. The sell-off reflects renewed growth-sensitivity concerns — names that had been bid as secular winners are reacting to shorter-duration execution risk and multiple compression. For sector analysis, this is a classic de-risking event where investors re-assess revenue visibility and fiscal-year guidance trajectories rather than abandoning the long-term thesis.
Utilities & Retail: Defensive and consumer discretionary bifurcated with Utilities up +0.9% and Retail up +0.7%, both ABOVE their 50MA over the 50-day look. NextEra Energy (NEE) rallied +1.4% to $77.01, and Retail strength continues to reflect resilient consumer spending patterns that have supported a +12.8% 20-day move in the group. In a market with 12 sectors above and 12 below the 50MA, these pockets of defensive strength offer a ballast against episodic tech volatility.
Market Breadth Analysis
US stock market breadth analysis shows 12 of 24 sectors trading above their 50-day moving average, while 12 are below. An even split above and below the 50-day MA suggests the market lacks directional conviction. Watch for a decisive shift in sector rotation to confirm the next trend.
Interactive Charts
S&P 500 & NASDAQ 100
50-Day Sector Performance
1-Day vs 5-Day Sector Change
Active Alerts
MEDIUMNVDA down -18.3% from 20-day high
Stock-Level Detail
Mag 7 (AI Spenders)Show individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
TSLA
$219.41
+4.2%
+6.6%
+14.4%
N/A
ABOVE
0
META
$509.32
+0.2%
-0.8%
+4.9%
N/A
ABOVE
0
MSFT
$403.30
-0.1%
-0.4%
+2.8%
N/A
BELOW
2
GOOG
$156.61
-0.5%
-4.1%
-1.8%
N/A
BELOW
2
AAPL
$219.21
-0.9%
-2.5%
+5.4%
N/A
BELOW
3
AMZN
$173.33
-1.7%
+1.5%
+6.5%
N/A
BELOW
2
NVDA
$106.04
-1.7%
-15.4%
+7.4%
N/A
BELOW
2
Chip Supply ChainShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
AMD
$140.87
+2.9%
-3.8%
+9.5%
N/A
BELOW
0
QCOM
$158.44
+1.3%
-3.8%
+5.9%
N/A
BELOW
0
MRVL
$70.49
+1.2%
+3.6%
+26.2%
N/A
ABOVE
0
AVGO
$151.27
+0.9%
-2.6%
+13.1%
N/A
BELOW
0
TSM
$156.84
+0.2%
-4.9%
+3.8%
N/A
BELOW
0
ARM
$120.95
-2.3%
-3.5%
+12.9%
N/A
BELOW
2
INTC
$19.43
-3.3%
-0.9%
+2.3%
N/A
BELOW
2
InfrastructureShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
VRT
$74.88
-0.2%
-6.8%
+11.7%
N/A
BELOW
2
CSCO
$47.39
-0.7%
-0.3%
+10.2%
N/A
ABOVE
2
HPE
$17.87
-1.5%
-1.2%
+12.3%
N/A
BELOW
2
DELL
$105.94
-1.5%
-2.2%
+24.1%
N/A
BELOW
2
SMCI
$42.35
-4.1%
-4.5%
-14.1%
N/A
BELOW
1
Enterprise SoftwareShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
ADBE
$575.25
+0.7%
+2.6%
+12.0%
N/A
ABOVE
0
PLTR
$30.59
+0.3%
+0.8%
+16.2%
N/A
ABOVE
0
NOW
$166.97
-0.1%
+2.5%
+7.5%
N/A
ABOVE
2
CRM
$244.17
-0.2%
-4.3%
+3.2%
N/A
BELOW
6
FinanceShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
GS
$473.86
+0.7%
-1.9%
+4.3%
N/A
BELOW
0
JPM
$210.49
-0.4%
-0.9%
+9.4%
N/A
ABOVE
2
HealthcareShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
UNH
$577.52
+0.9%
+2.7%
+6.7%
N/A
ABOVE
0
LLY
$934.58
-1.1%
-0.3%
+22.7%
N/A
ABOVE
2
RetailShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
COST
$881.74
+1.3%
+0.2%
+9.8%
N/A
ABOVE
0
WMT
$76.04
+0.1%
+1.5%
+15.8%
N/A
ABOVE
0
IT ServicesShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
IBM
$194.86
+1.4%
+2.8%
+10.2%
N/A
ABOVE
0
ACN
$330.95
+0.6%
+2.0%
+8.2%
N/A
ABOVE
0
AirlinesShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
UAL
$44.17
+0.7%
+6.9%
+14.0%
N/A
ABOVE
0
DAL
$41.42
+0.0%
+4.8%
+13.5%
N/A
ABOVE
0
Hospitality & TravelShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
BKNG
$149.53
-0.4%
-2.5%
+14.9%
N/A
ABOVE
2
MAR
$225.85
-0.5%
+0.9%
+7.1%
N/A
ABOVE
2
Food & RestaurantShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
MCD
$276.35
+0.9%
+0.9%
+7.5%
N/A
ABOVE
0
SBUX
$88.30
-0.9%
-3.1%
+23.4%
N/A
ABOVE
5
LogisticsShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
UPS
$115.58
+1.1%
+1.4%
+5.9%
N/A
BELOW
0
FDX
$226.49
-0.2%
-1.1%
+5.3%
N/A
BELOW
2
IndustrialShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
HON
$195.80
+0.3%
+0.3%
+4.4%
N/A
ABOVE
0
CAT
$329.15
-1.0%
-3.3%
+3.4%
N/A
BELOW
2
CybersecurityShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
PANW
$173.07
-2.5%
-1.2%
+13.8%
N/A
ABOVE
2
CRWD
$64.83
-2.7%
-1.8%
+12.4%
N/A
BELOW
2
ZS
$157.13
-18.7%
-19.0%
-5.5%
N/A
BELOW
2
Chip EquipmentShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
LRCX
$75.15
-0.2%
-5.1%
+2.2%
N/A
BELOW
2
AMAT
$179.70
-0.5%
-5.4%
+2.4%
N/A
BELOW
2
ASML
$799.14
-4.0%
-8.6%
-3.0%
N/A
BELOW
2
Data Center REITsShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
DLR
$140.69
-0.5%
-0.7%
+1.3%
N/A
BELOW
2
EQIX
$796.91
-0.5%
+1.7%
+6.6%
N/A
ABOVE
2
UtilitiesShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
NEE
$77.01
+1.4%
+2.8%
+5.2%
N/A
ABOVE
0
DUK
$110.01
+1.1%
+3.9%
+4.1%
N/A
ABOVE
0
SO
$84.17
+0.2%
+3.9%
+3.0%
N/A
ABOVE
0
EnergyShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
XOM
$107.67
-1.2%
-2.1%
-0.6%
N/A
BELOW
3
CVX
$131.89
-1.8%
-2.7%
+0.9%
N/A
BELOW
2
Defense & AerospaceShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
LMT
$548.34
+1.3%
+2.5%
+5.4%
N/A
ABOVE
0
RTX
$117.38
+0.1%
+0.2%
+6.7%
N/A
ABOVE
0
GD
$283.31
-0.2%
-0.8%
+2.5%
N/A
ABOVE
2
TelecomShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
T
$18.76
+0.7%
+3.8%
+6.9%
N/A
ABOVE
0
TMUS
$193.06
-0.9%
-1.0%
+4.6%
N/A
ABOVE
1
VZ
$36.38
-3.4%
-0.0%
+3.0%
N/A
ABOVE
1
Media & EntertainmentShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
NFLX
$67.97
+0.6%
-0.6%
+11.2%
N/A
ABOVE
0
DIS
$87.22
+0.1%
-0.3%
+3.8%
N/A
BELOW
0
BiotechShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
AMGN
$313.13
+0.0%
+0.3%
+6.5%
N/A
ABOVE
0
GILD
$74.71
-0.7%
+0.7%
+6.9%
N/A
ABOVE
1
MaterialsShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
LIN
$461.43
-0.1%
+0.1%
+7.2%
N/A
ABOVE
2
APD
$261.06
-0.2%
-0.8%
-1.0%
N/A
ABOVE
2
Analog & Embedded ChipsShow individual tickers
Ticker
Price
1D
5D
20D
50D
vs 50MA
Down Days
TXN
$194.03
+1.1%
-1.8%
+10.8%
N/A
ABOVE
0
MCHP
$73.23
+0.6%
-3.2%
+7.4%
N/A
BELOW
0
Key Stock Movers
Today's biggest movers by absolute percentage change: Zscaler (ZS) (Cybersecurity) fell 18.7% to $157.13. Tesla (TSLA) (Mag 7 (AI Spenders)) rose 4.2% to $219.41. Super Micro (SMCI) (Infrastructure) fell 4.1% to $42.35. ASML (Chip Equipment) fell 4.0% to $799.14. Verizon (VZ) (Telecom) fell 3.4% to $36.38. These individual stock movements were key drivers of their respective sector performance.
Risk and Opportunity Assessment
There are 1 medium-severity risk signals to monitor. While not requiring immediate action, keep an eye on the flagged sectors for further deterioration.
US Stock Market Outlook
Market positioning should respect the heightened technical risk after the NVDA alert (1 medium active alert) even as 12 sectors sit above their 50MA and 12 sit below, reflecting a neutral-to-bifurcated S&P 500 backdrop. Breadth metrics (8 up / 9 down / 7 flat) and the 50-day trend split argue for selective rotation: trim momentum-oriented long exposure into strength and favor high-quality defensive or cash-flow-stable names while waiting for clearer 50-day trend confirmation in cyclicals. Tactical investors should use pullbacks in structurally advantaged AI supply-chain names for selective adds and maintain tighter stops on cybersecurity and chip-equipment holdings.