The market has been meandering for most of the morning after one of the best point sessions in history. Stocks are consolidating gains today and looking for the next catalyst. It wasn’t testimony from Steven Mnuchin and Jerome Powell, as the dynamic money spending duo mostly had to evade leading questions while pushing their own agenda.
Consumer Discretionary names are enjoying a solid session on mostly good news from large players Walmart (WMT) and Home Depot (HD). The auto sector is getting a lift from Advanced Auto Parts, which posted impressive results.
S&P 500 Index
Communication Services XLC
Consumer Discretionary XLY
Consumer Staples XLP
Health Care XLV
Real Estate XLRE
Technology is the biggest winner, led by computer chip makers. The Philly Semi Index is up 6.5% for the week and NASDAQ is up 3.1%.