Afternoon Note
The market is holding onto gains, which has some observers confounded and frustrated. Interestingly, only two of the eleven sectors are in the red. One is technology as semiconductors have been under pressure all session. Conversely, software stocks, led by names in cloud infrastructure, are holding on very well.
Financials have resumed their leadership role after big profit-taking on Thursday and Friday. Real estate is the best performing sector.
S&P 500 Index |
+0.20% |
|
Communication Services XLC |
+0.83% |
|
Consumer Discretionary XLY |
+0.89% |
|
Consumer Staples XLP |
+0.89% |
|
Energy XLE |
+0.36% |
|
Financials XLF |
+1.32% |
|
Health Care XLV |
-1.23% |
|
Industrials XLI |
+0.49% |
|
Materials XLB |
+0.56% |
|
Real Estate XLRE |
+1.90% |
|
Technology XLK |
-0.29% |
|
Utilities XLU |
+0.28% |
Beaten down retailers continue to lead the market. Coty Inc. (COTI) after announcing plans of restructuring, Gap Stores (GAP) received an Upgrade, and Capri Holdings Limited (CPRI) is the biggest percentage gainers of the session.
It’s a solid session sort of the calm after the storm.
Comments |
Surprising performance today in light of the National Crisis and turmoil. Went to bed last night filled with anticipation about the morning bell. Glad to have you and your team as my ship-mates , navigating these murky waters and inclement weather. george bugatti on 6/1/2020 1:35:43 PM |
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