Equities Wrap-Up – 2019.11.01

The Week In Equities…

S&P 500 (SPY): 1.51%
Financials (XLF): 1.68%
Energy (XLE): -0.40%
Healthcare (XLV): 3.05%
Tech (XLK): 2.11%
Utilities (XLU): -0.11%
Consumer Staples (XLP): 0.10%
China (FXI): 1.23%

The S&P was in bull-mode this week, with the index staying over the prior resistance. This morning’s jobs report certainly did help the recent rally. No telling quite yet if it will be a longer-term uptrend, but the steady-looking nature of the rise could make for decent premium-selling on the dips.

Crude did, in fact, pause its ascent. The energy SPDR was down about 3.5% for the week by Thursday morning, but Friday’s action brought it back to only a moderate loss.

With names like Amgen, Pfizer, and Merck jumping on earnings, the healthcare sector did quite well.

Utilities sold off some and Consumer Staples were flat, as investors shifted out of safety names. These kinds of moves make me believe there’s some more upside in the major indices.

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