Market holds gains with financials in the lead
- Banks are taking up some of the slack as gains in megacaps and techs
ebb, with the broader market still solidly higher.
- The S&P is up 1.4% and the Nasdaq is gaining 1.1%. The Dow is up 1.7%,
helped by a 6% surge in Boeing.
- All 11 S&P sectors are still higher, but some of the leadership has
changed.
- The Financials (NYSEARCA:XLF) are in the top spot, with the S&P Bank
Index (NYSEARCA:KBE) up 4%. Citi and BofA are up more than 3%.
Oppenheimer said today the big banks are oversold.
- Energy (NYSEARCA:XLE) is still strong, while Communications Services
(NYSEARCA:XLC) and Health Care (NYSEARCA:XLV) are bringing up the rear.
- The Fab 5 megacaps are paring gains, with only Amazon up more than 1%.
Baird says Amazon is still at attractive levels to buy.
- In commodities, spot gold and crude futures are both modestly higher.
|Today, 12:15 PM|3 Comments
- Banks are taking up some of the slack as gains in megacaps and techs
ebb, with the broader market still solidly higher.
- The S&P is up 1.4% and the Nasdaq is gaining 1.1%. The Dow is up 1.7%,
helped by a 6% surge in Boeing.
- All 11 S&P sectors are still higher, but some of the leadership has
changed.
- The Financials (NYSEARCA:XLF) are in the top spot, with the S&P Bank
Index (NYSEARCA:KBE) up 4%. Citi and BofA are up more than 3%.
Oppenheimer said today the big banks are oversold.
- Energy (NYSEARCA:XLE) is still strong, while Communications Services
(NYSEARCA:XLC) and Health Care (NYSEARCA:XLV) are bringing up the rear.
- The Fab 5 megacaps are paring gains, with only Amazon up more than 1%.
Baird says Amazon is still at attractive levels to buy.
- In commodities, spot gold and crude futures are both modestly higher.
|Today, 12:15 PM|3 Comments
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