EmailStock Market Update
Market Snapshot
| Dow | 13994.68 | +94.55 | (0.68%) |
| Nasdaq | 3158.92 | +29.27 | (0.94%) |
| SP 500 | 1508.51 | +11.57 | (0.77%) |
| 10-yr Note | -5/32 | 1.904 | |
| NYSE | Adv 2190 | Dec 670 | Vol 202.1 mln |
| Nasdaq | Adv 1598 | Dec 706 | Vol 563.2 mln |
Industry Watch
| Strong: Consumer Staples, Health Care, Telecommunications |
| Weak: Energy, Financials |
Moving the Market
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Second estimate of fourth quarter GDP: +0.1% actual, +0.5% Briefing.com consensus, -0.1% advance reading Weekly initial claims: 344,000 actual, 360,000 Briefing.com consensus, 366,000 prior Continuing claims fell to 3.074 million from 3.165 million February Chicago PMI: 56.8 actual, 54.0 Briefing.com consensus, 55.6 prior |
Cyclical Sectors Leading
27-Feb-13 11:30 ET
Dow +94.55
at 13994.68,
Nasdaq +29.27
at 3158.92,
S&P +11.57
at 1508.51
[BRIEFING.COM] Equities continue to trade near their recently established highs with the S&P 500 up 0.8%. The market rally is being fueled by the outperformance of cyclical sectors. Discretionary, industrial, and material stocks are all adding in excess of 1.0%.
The discretionary sector is seeing outperformance from homebuilders. The SPDR S&P Homebuilders ETF (XHB 28.29, +0.52) is rising 1.9% after January pending home sales reflected healthy demand for existing homes. A strong pending home sales report is being seen as a positive indicator for new home sales as well.
Elsewhere, industrials are climbing as transportation-related stocks outperform. The Dow Jones Transportation Average is surging 2.8% with 19 of 20 components seeing gains in excess of 1.0%.
Lastly, materials are rebounding after the sector saw notable selling dating back to last week. The SPDR Materials Select Sector ETF (XLB 38.24, +0.49) is adding 1.3%.
The discretionary sector is seeing outperformance from homebuilders. The SPDR S&P Homebuilders ETF (XHB 28.29, +0.52) is rising 1.9% after January pending home sales reflected healthy demand for existing homes. A strong pending home sales report is being seen as a positive indicator for new home sales as well.
Elsewhere, industrials are climbing as transportation-related stocks outperform. The Dow Jones Transportation Average is surging 2.8% with 19 of 20 components seeing gains in excess of 1.0%.
Lastly, materials are rebounding after the sector saw notable selling dating back to last week. The SPDR Materials Select Sector ETF (XLB 38.24, +0.49) is adding 1.3%.
