Afternoon Note
Energy is the best performing sector today, buoyed by a greater than expected inventory draw down. The 4.9% decline in inventories was greater than expected and is helping West Texas Intermediate rally higher. Investors have been wanting to get into the energy sectors all year long, so it’s the best performer today.
I think early buying, while infectious enough to spark additional buying, didn’t seduce as many buyers as it would have if the ADP jobs report wasn’t a dud.
Symbol |
Select Sector SPDR Fund |
Last |
Change |
% Change |
---|---|---|---|---|
XLC |
Communication Services |
52.30 |
+0.34 |
+0.64 |
XLY |
Consumer Discretionary |
120.99 |
+0.77 |
+0.64 |
XLP |
Consumer Staples |
62.33 |
+0.29 |
+0.47 |
XLE |
Energy |
58.95 |
+0.94 |
+1.62 |
XLF |
Financials |
29.86 |
+0.32 |
+1.08 |
XLV |
Health Care |
99.62 |
+0.79 |
+0.80 |
XLI |
Industrials |
80.53 |
+0.72 |
+0.90 |
XLB |
Materials |
59.55 |
+0.49 |
+0.83 |
XLRE |
Real Estate |
38.34 |
+0.09 |
+0.24 |
XLK |
Technology |
86.54 |
+0.41 |
+0.48 |
XLU |
Utilities |
63.17 |
+0.36 |
+0.57 |
The most intriguing action continues to be in beaten down retailers. L Brands (LB) has become a juggernaut while Tapestry (TPR) and Ralph Lauren (RL) also act great.
Let’s not force the issue this afternoon.
Tweet |
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 |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
4/2/2024 9:49 AM | HIGHER PRICES & JOBS LOSS – “NO” ON FED BINGO CARD |
4/1/2024 10:00 AM | OF COURSE, HE CAN WAIT…THE DATA STILL NOT ADDING UP |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|