Back in the extreme greed zone, the S&P 500 (SPX) and the NASDAQ Composite finished yesterday at new all-time highs. They say success is contagious. Add to that the fact that the train is leaving the station, and we could continue to set new records.

The Real AI Winner

Lots of news yesterday morning centered on data center demand and initiatives, as well as the benefits for Utility (XLU) companies, but that was the only sector to finish in the red.

The big winner continues to be the Industrials (XLI) Sector. Although we have been significantly overweight in the industry, I’m trying to find new names, but most have already made huge moves.

Your excuses are your own.

 

The red on the screen is typically associated with earnings and guidance disappointments.

Meanwhile, that small-cap move is picking up steam.

Small-caps are rocking across all extended factors.

The question is whether this is one of those periodic attempts to “right the ship” or the beginning of something big.

Today’s Session

Initial jobless claims moved down to 217,000, moving bond yields higher.

Otherwise, it’s a quiet session.

Major disparity with the Dow Jones Industrial Average and other large equity indices that represent the market.

UnitedHealth (UNH) disclosed what had been rumored for months: that the Department of Justice (DOJ) is investigating aspects of the company's participation in the Medicare program.

We think the stock is oversold.  It’s another reason we don’t use the Dow Jones Industrial Average (DJIA) to reference the market.

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