Sector Spotlight: Earnings Season Is Underway
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Market Recap For October 19th, 2022
Not much happened during yesterday’s trading. Markets dipped a little to start the day, moved into the green, and then back down in the red.
A larger rally seemed to have begun last Thursday, and nothing has happened that negates that forecast. At least, not yet.
Yesterday’s Sector Performance
Energy ended up as the only sector in the green.
Real Estate took the biggest hits during yesterday’s minor decline.
Five-Day Sector Performance
Energy and Financials are now the market leaders over the past week.
Consumer Discretionary has fallen to the bottom, although still in the green.
ETF Trade Watch
Industrial Select Sector SPDR (XLI)
Materials Select Sector SPDR (XLB)
Outside of the Monday and Tuesday opening jumps, not much has happened the market. Of course, odds favor a break out of that funk in the coming days.
And it is hard to say which sectors might perform best on an extension of the rally, which is why we are stocking the same XLI and XLB from yesterday.
Good luck!
