The tech sector, as tracked by the XLK ETF, is up close to 22% over the past six months, beating, by a mile, the 16% gains seen in the S P 500. While we’ve seen some compelling signs that the market is ready for new leadership, tech is still presenting problems for the bears. That said,
Bonds were battered today as economic data, SCOTUS, and other news pushed prices lower and yields higher. While the bond market was anything but quiet, the reaction from interest rate-sensitive securities like REITs and financial and utility stocks was fairly muted. Sounds strange to say it, but I j
Well, Q2/2024 ended with a whimper of sorts, drifting down 0.26% in late trading. But don’t let that fool you; the S P 500 will actually close up a healthy 5.1% for the quarter. So don’t be distracted by the selling today - much of that is being driven by institutions engaged in quarterly rebalancin
Technology, healthcare, financials, energy - ask any average Joe or Jane on the street to name a sector of the stock market and you’ll probably hear one of these thrown back at you. They get headlines and headspace, plenty of capital, and, yes, they occasionally lead the market - particularly tech a
Tech stocks (especially a certain $3.1 trillion chip company) have been leading the market to all-time high after all-time high for weeks now. But, as I sit here at the cash close today, I’m watching S P 500 futures get absolutely rocked with volatility… and boom all the action stops and the S P 500
The tape tells the tale, just like it always does: The tech sector is clearly in consolidation mode right now. Don’t get me wrong - I still like the price action I’m seeing there in the sector as tracked by, for instance, XLK, the Technology Select Sector SPDR ETF. But this means the market is
The S P 500 had trouble lifting off today, courtesy of a thousand-pound weight: NVDA. Today’s price action shows once again that this is the stock. Nine other sectors actually finished higher for the session. The rally that counts today is the energy sector - largely the result of the fundamentals o
There’s a lot talk about tonight. There are around $5.5 trillion worth of derivatives expiring as I write this - massive positions are coming off the books. That’s bigger than Japan, bigger than France - bigger than all but two world economies. That’s big. The SPX hit its $65 expected move, no sweat
The Magnificent Seven oftentime market leaders were, collectively, down more than 1% by midday. The broader NASDAQ-100, around 55% of which is tech, was off around 0.06% over the same timeframe. That doesn’t sound like much, because it really isn’t, but the selling is important because it’s a sign o
