5/13/2024
By Charles Payne CEO & Principal Analyst

There were no major key macro data releases last week, which was a blessing.

It was more than a blessing, as the S&P 500 climbed +1.9% - three times the historical average (+0.62%).

The same tide lifted all ships, but three things stood out in the S&P 500 last week: the continued rise in Utilities (XLU), which have become a de facto of Artificial Intelligence (AI) investment. And the slower pace of growth sectors Technology (XLK), Communication Services (XLC), and Consumer Discretionary (XLY)).

Charles Payne
Wall Street Strategies

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