The market has been meandering for most of the morning after one of the best point sessions in history. Stocks are consolidating gains today and looking for the next catalyst. It wasn’t testimony from Steven Mnuchin and Jerome Powell, as the dynamic money spending duo mostly had to evade leading questions while pushing their own agenda.
Consumer Discretionary names are enjoying a solid session on mostly good news from large players Walmart (WMT) and Home Depot (HD). The auto sector is getting a lift from Advanced Auto Parts, which posted impressive results.
S&P 500 Index | -0.01% | |
Communication Services XLC | +0.55% | |
Consumer Discretionary XLY | +0.71% | |
Consumer Staples XLP | -0.68% | |
Energy XLE | -1.62% | |
Financials XLF | -0.57% | |
Health Care XLV | -0.87% | |
Industrials XLI | +0.58% | |
Materials XLB | 0.00% | |
Real Estate XLRE | -1.20% | |
Technology XLK | +0.84% | |
Utilities XLU | -0.95% |
Technology is the biggest winner, led by computer chip makers. The Philly Semi Index is up 6.5% for the week and NASDAQ is up 3.1%.