07 June: Shift to Value Stocks
Last night’s market session was uneventful after the US earnings season, and we await upcoming economic news (Dow flat, S&P +24bps and The Nasdaq +36bps). Investors are showing interest in cyclical growth and value stocks, with AMD gaining (+5.3%) and Nvidia declining (-.1.3%). Apparel retailers saw gains (+4%), with regional banks (+5%) and apparel stocks rising. […]
23 May : Tech soars
Market remains steady with ongoing debates on the debt ceiling and recession concerns.
Yields are rising, but the technology sector continues to outperform, while consumer discretionary stocks struggle.
19 May : Retailers reveal
Finally we’re seeing some action! And for the moment, the pain trade feels higher (Dow +34bps, S&P +94bps and The Nasdaq +1.5% on much better volume).
Tech was the clear outperformer despite a proper kick in yields.
Neither the jobs numbers, nor the home sales data were needle-moving.
17 May : Tech Shines, Lumber Plummets, and Gaming Giants Stumble
Yields continue to grind higher on the continued debt ceiling impasse and major US indices closed near session lows. Big tech remains a relative haven and market breadth continues to narrow.
15 May : A bit ‘meh’
Another “meh” session on Friday night with major US indices closing little changed and volumes around 20% light of average levels. Tesla stock was down 2.4% after raising prices in the US for the third time in a month.
