Watch Scott Jennings Slap Down This Shoddy Talking Point About the Spending Bill
We Have the Long-Awaited News About Who Will Control the Minnesota State House
60 Minutes Reporter Reveals Her Greatest Fear as We Enter a Second Trump...
Wait, Is Joe Biden Even Awake to Sign the New Spending Bill?
NYC Mayor Eric Adams Explains Why He Confronted Suspected UnitedHealthcare Shooter to His...
The Absurd—and Cruel—Myth of a ‘Government Shutdown’
Biden Was Too 'Mentally Fatigued' to Take Call From Top Committee Chair Before...
Who Is Going to Replace JD Vance In the Senate?
'I Have a Confession': CNN Host Makes Long-Overdue Apology
There Are New Details on the Alleged Suspect in Trump Assassination
Doing Some Last Minute Christmas Shopping? Make Sure to Avoid Woke Companies.
Biden Signs Stopgap Bill Into Law Just Hours Before Looming Gov’t Shutdown Deadline
Massive 17,000 Page Report on How the Biden Admin Weaponized the Federal Government...
Trump Hits Biden With Amicus Brief Over the 'Fire Sale' of Border Wall
JK Rowling Marked the Anniversary of When She First Spoke Out Against Transgender...
OPINION

Many Brilliant Professional Investors Missed Market Rally

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

Yesterday was another strong session for the stock market, which continues to underscore one of the oldest axioms on Wall Street: success begets success.  (I think it applies to all facets of life, not just the stock market.)  It’s working even more this year, because so many brilliant professional investors missed the rally and must play catch-up. 

Advertisement

There is a good shot to see the S&P 500 eclipse the 2013 29.6% gain; perhaps, the 31.0% gain in 1997 is a bridge too far.

The Message of the Market

There were balanced gains across most sectors with Netflix (NFLX) sparking Communication Services.

Symbol

Sector

Last

Change

% Change

XLC

Communication Services

53.88

+0.49

+0.92

XLY

Consumer Discretionary

124.77

+0.39

+0.31

XLP

Consumer Staples

63.14

+0.34

+0.54

XLE

Energy

61.37

-0.02

-0.03

XLF

Financials

30.80

-0.01

-0.03

XLV

Health Care

102.40

+0.40

+0.39

XLI

Industrials

81.47

+0.22

+0.27

XLB

Materials

60.92

+0.21

+0.35

XLRE

Real Estate

38.36

+0.36

+0.95

XLK

Technology

90.72

+0.65

+0.72

XLU

Utilities

64.65

+0.02

+0.03

Biggest Winners

  • (CAG) Conagra Brands                    +15.87%
  • (NFLX) Netflix                                    +3.56%
  • (ECL) Ecolab                                        +3.28%
  • (AMT) American Tower                  +2.87%
  • (MU) Micron Technology              +2.81%
  • (MYL) Mylan Pharmaceuticals     +2.70%
  • (WDS) Western Digital Corp.       +2.69%
  • (CSCO) Cisco Systems Inc.             +2.66%
  • (NOV) National Oilwell                   +2.66%
  • (NVDA) NVIDIA Corporation        +2.59%
Advertisement

Portfolio Approach

Today’s Session

The markets are set for another higher open.  The latest third quarter GDP estimates were in line. Real GDP was up 2.1% and the GDP Price Deflator rose 1.88%. There was nothing unexpected in the report, and GDP is in a Goldilocks place.  Personal consumption continues to rise, up to 3.2% from the second quarter estimate of 2.9%.

  • Gross private domestic investment down 1.0%
  • Government spending up 1.7%
  • Exports up 1.0%
  • Imports up 1.8%

At 10 am ET, we will get a read on the health of the U.S. consumer with personal income and spending.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos