COMMENTARY:
- The S&P500 was up 1.11% for the week, as the “bulls” remained in control from both strong consumer confidence and gains in the Tech Sector’s optimism for AI-related stocks.
- Utilities sector fell the most this week, down 2.5%. After a strong run, investors may have sought profit-taking, driving the performance down. Vistra Corp (-9.5%) and AES Corp. (-8.4%) were laggards for the period.
- On the positive side Technology and Industrials were both up over 2% for the week. In Tech, Super Micro Computer Inc. (+15.9%) surged on news of increased shipping of AI-related products (GPUs). Uber Technologies (+16.2%) pushed Industrials up it benefited from skepticism about TESLA’s Robotaxi event.
- Financials (+1.9%) and Health Care (+1.5%) were gainers this week. Bank shares continued to move up and in Health Care Eli Lilly & Co, (+5.0%) who recently achieved a significant regulatory milestone with the FDA’s approval of a new Alzheimer’s drug.
- Of the five sectors underperforming the S&P500 Index were Consumer Discretionary, Communication Services, Energy & Real Estate.
ETF Tidbits:
New ETF launches included Harbor Capital’s (INFO), Direxion with four (AVL, AVS, MUU, & MUD)
