![]() ![]() Whether this group can continue this short-term run after performing miserably for virtually this entire year will likely depend on where inflation heads from here. Airlines have dragged somewhat along with the weakness in other leisure sectors, but precious metals miners are picking up strength here following last week’s inflation-inspired bounce. Investors still aren’t treating these as actionable plays and continue to focus mostly on tech, energy and financials as trading options. Industrials and materials have been big beneficiaries of the recent resurgence in cyclicals. The higher interest rate narrative appears to be bringing investors back into the fold and with the pressure continuing to build for move rates higher still, I think there’s more potential return ahead in this group. Banks had been and still are leading slightly, but there’s no real advantage in terms of short-term relative strength. Hydrogen has been a particularly strong theme within the clean energy space.įinancial stocks are pretty consistent across the board with no single subsector really outperforming. Net flows, which had been pouring heavily into this sector have now reversed course and are moving back out again. Crude oil prices are off their highs, but still elevated at around the $80 a barrel level. There’s still a dichotomy between traditional fossil fuel energy and clean energy stocks. Homebuilders are still looking good, but watch for retail both this week and through the holidays. The video game sector showed strong sales growth again last week and that’s lifted this group higher. The catalyst, of course, being inflation and slowing demand for hotels, travel, etc. The clear laggards in this group are the leisure & entertainment plays. On a longer-term basis, consumer discretionary is still looking positive, although last week was a setback. Social media looks like it might be in the early stages of turning higher, but traditional telecom and media names haven’t generated any excitement. Digital payments stocks still look really weak and there hasn’t been much momentum in the internet stock space either.Ĭommunication services, again, is one of the worst-performing sectors lately, but it does look like things might be balancing themselves out. Watches, Oriental China, a few select Minerals, fine Fossil Wood. ![]() Semiconductors and blockchain remain red hot, both gaining more than 20% over the past month alone. DAXIS : S RECONNOITERING TELEPANOPTICON of SCIENCE and SOCIETY HIBITION of. Tech continues to look strong, although net flow activity shows that investors haven’t been reacting in a major way. ![]()
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