Leaders-Laggards

We’ve already seen some major retailers issuing warnings during the earnings season, but the consumer has remained relatively sturdy up to this point. Tech took a bit of a backseat last week as cyclicals took over, but there’s still a lot of positive sentiment surrounding this sector. The latest bullish run for stocks has dampened the demand for government bonds.

Discretionary stocks continue to shake off the idea that inflation is crushing the consumer. Tech stocks have now gained 12% over the past month and are one of the groups powering this market higher. For the first time this summer, energy is making a meaningful turn higher.

Discretionary stocks continue to shake off the idea that inflation is crushing the consumer. Tech stocks have now gained 12% over the past month and are one of the groups powering this market higher. Investors are clearly seeking out positive storylines in this market and that’s carried over to the industrial sector.