Dow: +162.82…
Nasdaq: -72.09… S&P: +4.40..
The S&P 500 (+0.1%) and Dow Jones Industrial Average (+0.5%) set intraday and closing record highs today as value/cyclical stocks outperformed at the expense of the growth stocks. The Russell 2000 increased 0.2%, while the Nasdaq Composite (-0.5%) was dragged lower by technology.
The S&P 500 energy (+1.7%), materials (+1.5%), industrials (+1.0%), and financials (+1.0%) sectors finished with gains of at least 1.0%.
Crypto saw some profit-taking today after its recent run-up.
The XME names broke out today. Names like CLF, FCX, X, AA, TMST, and NUE did very well. These could all be solid longs into year-end if this momentum continues.
Biotech (XBI) continues to be listless. As a matter of fact, XBI has been in a 10 point trading range for a month. Rudderless action.
One to watch
BITW is the crypto index fund. Nice setup. I might add if crypto stays firm.
See you in the morning. P&L here.