Afternoon Note
This morning, I thought Healthcare would be the big winner, but the sector is lower (big pharma is lower and offsetting health insurers) along with Materials, Real Estate and Utilities. It stands to reason, as some money is coming out of safe-haven sectors and investors continue to chase technology.
S&P 500 Index |
+0.23% |
|
Communication Services (XLC) |
+0.18% |
|
Consumer Discretionary (XLY) |
+0.49% |
|
Consumer Staples (XLP) |
0.00% |
|
Energy (XLE) |
+0.05% |
|
Financials (XLF) |
+0.39% |
|
Health Care (XLV) |
-0.24% |
|
Industrials (XLI) |
+0.60% |
|
Materials (XLB) |
-0.16% |
|
Real Estate (XLRE) |
-1.20% |
|
Technology (XLK) |
+0.61% |
|
Utilities (XLU) |
-0.20% |
The big winner are transportation stocks with the Dow Transportation Index up 1.6%. Of course, this area has been a major loser, but earnings from Delta (DAL) and a bounce in railroad names is attracting bargain hunters.
DJT
Still Cautionary Tone
The market is still a long ways from euphoric and earnings expectations are as dire as I’ve seen in a long time. Moreover, I still think many investors are underestimating this new Fed and the driving motivation for policy. In addition, observers of the rally continue to underplay its potential. I love that, but I am sorry that such non-stop chatter has kept so many people out of the market.
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4/23/2024 7:42 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
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