The market is breaking out to new highs once again today on the back of
the early release of the Fed meeting minutes and the start of the first
quarter earnings season.
Leading the market higher are the technology stocks with the SPDR Technology ETF (XLK) up 1.8%, logging its best gain since early January. The stocks leading the way are Facebook (FB) +4.3% and Apple (AAPL)
+2.1%. A close above $30.50 for XLK (currently at $30.60) would be a
significant breakout for the technology sector that has been lagging.
The large semiconductor stock, Intel (INTC),
is also breaking out today with a gain of 2.8% and could be a catalyst
to lead the sector higher and help propel the entire market to more new
highs.
The iShares NASDAQ Biotech ETF (IBB) is rallying
2.4% and is at a new all-time high. This has been a sector that has
quietly been putting in big gains - up 20% in 2013!
The SPDR S&P Retail ETF (XRT)
is breaking out of a one-month consolidation pattern to also hit a new
all-time high. The media bashes the retail sector and consumers, yet the
sector continues to outperform.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
No comments:
Post a Comment