Equities Wrap-Up – 2019.11.08

The Week In Equities…

 

S&P 500 (SPY): 0.91%
Financials (XLF): 2.47%
Energy (XLE): 2.38%
Healthcare (XLV): 0.27%
Tech (XLK): 1.71%
Utilities (XLU): -3.65%
Consumer Staples (XLP): -0.64%
China (FXI): 1.76%

 

The S&P continued to show strength after last week’s breakout. Slowly, the index rose to new all-time highs. Many traders are now looking for a pullback for a better entry.

Financials had a strong week, which is further confirmation that this rally has a pretty good foundation. Energy had a strong week after last week’s slight fall. Not sure how much further these names will run, but the trade war easing certainly helps. Utilities and Consumer Staples fell this week, showing that money is preferring to find a home in the riskier spaces. Chinese shares continued to rally with US-China relations becoming friendlier.

Overall it looks like the uptrend, in general, may have some strength for the end of the year. You never can tell for sure, when a single tweet from Trump can have severe negative effects, but right now things are looking to rise.

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