Rotation continues today and its all about those monster names.  There are three S&P 500 sectors higher today led by these names:

Communications

• Activision Blizzard (ATVI) and Alphabet/Google (GOOG/L)

Consumer Discretionary

• Amazon (AMZN), Tractor Supply (TSCO), Chipotle (CMG)

Technology

• Bio-Techne (TECH), Citrix (CTXS), ServiceNow (NOW), Adobe (ADBE)

S&P 500 Index	+0.40%
Communication Services (XLC)	+0.45%
Consumer Discretionary (XLY)	+0.84%
Consumer Staples (XLP)		-1.19%
Energy (XLE)		-0.71%
Financials (XLF)		-0.33%
Health Care (XLV)		-0.06%
Industrials (XLI)		-1.36%
Materials (XLB)		-0.49%
Real Estate (XLRE)		-0.91%
Technology (XLK)	+1.56%
Utilities (XLU)		-1.36%

The Nasdaq is the clear leader today, while the Dow has spent most of the day in the red.

Decliners are outpacing the advancers today, but new 52-week highs are still charging higher.

Issues:	NYSE	NASDAQ
Advancing	1,238	1,598
Declining	1,710	1,682
Issues at:
52 Week High	99	147
52 Week Low	8	13
Volume:
Advancing	1.10B	1.51B
Declining	1.09B	909.03M

It is going to busy a week for earnings. Big names such as Intel (INTC), Microsoft (MSFT) and Tesla (TSLA) are among the companies set to report.

Covid-19 cases and potential economic stimulus is weighting on investors minds.  Treasury Secretary Mnuchin is expected to meet some key Republican Senators including Mitch McConnell to review a proposed $1 trillion package.  While a big number, it’s quite a bit smaller than the $3.5 trillion proposal from the Democrats. 

Let’s not force the issue this afternoon.

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