A whisper of stimulus hope jolts the S&P; recovery plays help Nasdaq lead
the day
- The broader market got something to hang its hat on today: the return
of the stimulus talks.
- The Nasdaq (COMP) +0.9% led the major averages as early strength in
Big Tech and stay-at-home plays was bolstered by the late stimulus
rallied.
- The S&P (SP500) +0.4% spent most of the day below the flatline, but
the mention of negotiations was enough to rev upthe index. Cyclicals
joined
the megacap sectors in the green, with 9 of 11 closing higher.
- Energy (NYSEARCA:XLE), which has the biggest swings of any sector,
raced into first place on the prospects of a COVID relief package,
however
slim.
- The three homes of the megacaps, Info Tech (NYSEARCA:XLK),
Communication Services (NYSEARCA:XLC) and Consumer Discretionary
(NYSEARCA:XLY), rounded out the top four.
- Defense stayed pinned back, with Utilities (NYSEARCA:XLU) and
Healthcare (NYSEARCA:XLV) lower.
- Stay-at-home stocks mingle with recovery stocks on the gainers list.
- Among lockdown favorites, videogame stocks saw strength throughout the
day. Streaming stock Roku +10% rallied on a big batch of bullish
comments from the sell side and a cable titan.
- On the other side, cruise lines, casinos and department stores also
rallied.
|Today, 4:03 PM|32 Comments
the day
- The broader market got something to hang its hat on today: the return
of the stimulus talks.
- The Nasdaq (COMP) +0.9% led the major averages as early strength in
Big Tech and stay-at-home plays was bolstered by the late stimulus
rallied.
- The S&P (SP500) +0.4% spent most of the day below the flatline, but
the mention of negotiations was enough to rev upthe index. Cyclicals
joined
the megacap sectors in the green, with 9 of 11 closing higher.
- Energy (NYSEARCA:XLE), which has the biggest swings of any sector,
raced into first place on the prospects of a COVID relief package,
however
slim.
- The three homes of the megacaps, Info Tech (NYSEARCA:XLK),
Communication Services (NYSEARCA:XLC) and Consumer Discretionary
(NYSEARCA:XLY), rounded out the top four.
- Defense stayed pinned back, with Utilities (NYSEARCA:XLU) and
Healthcare (NYSEARCA:XLV) lower.
- Stay-at-home stocks mingle with recovery stocks on the gainers list.
- Among lockdown favorites, videogame stocks saw strength throughout the
day. Streaming stock Roku +10% rallied on a big batch of bullish
comments from the sell side and a cable titan.
- On the other side, cruise lines, casinos and department stores also
rallied.
|Today, 4:03 PM|32 Comments
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