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Payne's Perspective: June 3, 2024: Summer Rally or Discontent?

By Charles Payne CEO & Principal Analyst

It was a shaky week that ended with a big rally into the close on Friday.  Big-time rotation saw funds pour out of the hottest sectors into those that have lagged for a long time.   Consequently, the NASDAQ stumbled while small caps rallied.

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Small-cap value outperformed for the second consecutive week while growth declined.

For the S&P 500, Energy (XLE) made an impressive move as WTI rebounded.  Utilities (XLU) and Real Estate (XLRE) also enjoyed strong moves. 

Market breadth was pretty much even across the board; although, decliners and new lows edged advancers and new highs on the NASDAQ.

To read the full report, contact your account representative or email Info@wstreet.com.

Charles Payne
Wall Street Strategies


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