Afternoon Note
We’ve seen this before, where rotation sees investors leave safe havens (Utilities, Real Estate and Consumer Staples) into oversold areas, including Industrials and Materials.
There is no doubt, investors are looking for value in this market. Yet, many of these same (professional) investors must also get performance this year.
S&P 500 Index |
+0.39% |
|
Communication Services (XLC) |
+0.39% |
|
Consumer Discretionary (XLY) |
0.00% |
|
Consumer Staples (XLP) |
-0.68% |
|
Energy (XLE) |
+3.49% |
|
Financials (XLF) |
+0.72% |
|
Health Care (XLV) |
-0.06% |
|
Industrials (XLI) |
+0.91% |
|
Materials (XLB) |
+0.71% |
|
Real Estate (XLRE) |
-0.89% |
|
Technology (XLK) |
+0.38% |
|
Utilities (XLU) |
-0.83% |
The financials seem to have caught the fancy of the greatest crosscurrent of investors, as there has been significant bifurcation between sector winners and losers. Asset allocators are doing well today, and regional banks are finding buyers as well.
Drilling For Value
The biggest winner today is energy where the speculation is global demand will begin to rebound. Energy is trailing big time for the year, up only 3.3% for 2019.
West Texas Intermediate (WTI) has been edging higher and breaks out with close above $58.00.
Tweet |
4/26/2024 1:46 PM | Full Steam |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 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 |
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