Major averages end with modest losses, but recovery plays show fight
- Stocks gave back some of the previous session's rally, but the winners
and losers were driven more by news and numbers than overall market
sentiment.
- The S&P (SP500) fell 0.5%, the Nasdaq (COMP) ended off 0.2% and the
Dow (DJI) was off 0.6%.
- The rotation dial swung back and forth, but in the end the recovery
and stay-at-home issues were a mixed bag. Cruise lines and department
stores rose, while airlines were mixed and casinos fell. Lockdown
favorites
like Peloton and Zoom Video edged up.
- The biggest drag came from defensive stocks and the homes of stocks
hit hardest by Amazon Pharmacy's debut.
- Health Care (NYSEARCA:XLV) felt the weight of CVS' -9% plunge, while
Consumer Staples (NYSEARCA:XLP) was hit by Walgreens -10%.
- Amazon +0.2% was the only one of the Fab 5 megacaps in the green.
- Energy (NYSEARCA:XLE) went form worst at the start to first at the
finish. Real Estate (NYSEARCA:XLRE) was the other sector in the green,
as office REITs continued to rise on the back of the vaccine news.
|Today, 4:05 PM
- Stocks gave back some of the previous session's rally, but the winners
and losers were driven more by news and numbers than overall market
sentiment.
- The S&P (SP500) fell 0.5%, the Nasdaq (COMP) ended off 0.2% and the
Dow (DJI) was off 0.6%.
- The rotation dial swung back and forth, but in the end the recovery
and stay-at-home issues were a mixed bag. Cruise lines and department
stores rose, while airlines were mixed and casinos fell. Lockdown
favorites
like Peloton and Zoom Video edged up.
- The biggest drag came from defensive stocks and the homes of stocks
hit hardest by Amazon Pharmacy's debut.
- Health Care (NYSEARCA:XLV) felt the weight of CVS' -9% plunge, while
Consumer Staples (NYSEARCA:XLP) was hit by Walgreens -10%.
- Amazon +0.2% was the only one of the Fab 5 megacaps in the green.
- Energy (NYSEARCA:XLE) went form worst at the start to first at the
finish. Real Estate (NYSEARCA:XLRE) was the other sector in the green,
as office REITs continued to rise on the back of the vaccine news.
|Today, 4:05 PM
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