Market: Wall Street saved by Broadcom's +24% rise

(CercleFinance.com) - Wall Street ended the week in transition, with no trend at the final bell (the S&P500 ended perfectly unchanged at 6.
051Pts, but this was only due to Broadcom's +24% surge), but permabulls can take comfort in the fact that the Nasdaq set a new all-time intraday record, if not a closing record (the index just scraped up 0.12%, but this was enough to end the week with an overall gain of +0.35%).

As on the previous day and in most previous sessions, there were more decliners than risers on Friday, but as usual since November 7, there is always a heavyweight, an XXL locomotive to pull the Nasdaq to new heights despite unfavorable advance/decline ratios.

The Nasdaq Composite set a record at over 20,060Pts thanks to Broadcom (and only Broadcom, which soared after its quarterly results published on Thursday evening): with +$220Bn in additional capitalization, the company made a thunderous entry into the '1.000Bn capi' club.

There are now 8 'fantastics' on Wall Street, with Broadcom now weighing in at $1,050Bn.

Broadcom accounted for 100% of the rise in the Nasdaq-100, which also set a record at 21,886, 100pts higher than on December 11.

On the US statistics front, US import prices rose by 0.1% in November compared with the previous month (stable excluding fuel), according to the Labor Department, while export prices stagnated (+0.1% excluding agricultural commodities).

On a rolling 12-month basis, US import and export prices rose by 1.3% (+2.3% excluding fuel) and 0.8% (+1.2% excluding agricultural products) respectively last month.

T-Bonds tightened by +7pts to 4.3950% (i.e. +25pts over the week), the '2-yr' posted +6pts to 4.245%, the '30-yr' +7pts to 4.612%.

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