Amid Riots, Markets See A Better America

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Posted: Jun 02, 2020 1:31 PM
Amid Riots, Markets See A Better America

Source: AP Photo/Steve Helber

It’s been a steady market that has continued to fend off jawboning from the Financial Media, which has gone from disbelief about the rally to hating the rally.  They are doing it under the guise its disconnected from the reality of the moment.

This is not the typical disbelief in a rally, which is par for the course, but visceral hatred that anyone, including the 57 million households that own mutual funds, could be making money.  The fact is this anger is mostly about worry the rally helps President Trump. 

The session has been led by heretofore laggards and some really old names.  Western Union (WU) is one of the original 11 Dow Jones Industrials components. 

Energy is the best performing sector with an OPEC meeting coming up and the global economy opening up.

S&P 500 Top Performers

Sector

Change

Western Union (WU)

XLK

+11.03%

SL Green Realty (SLG) 

XLRE

+7.74%

DXC Technology (DXC) 

XLK

+7.05%

Everest Re Group (RE)

XLF

+6.14%

Dow Inc. (DOW)

XLB

+6.03%

Hess Corp (HEES)

XLE

+5.66%

Baker Hughes (BKR)

XLE

+5.60%

Occidental Petroleum (OXY)

XLE

+5.47%

Lyondell Basel Industries (LYB) 

XLB

+5.33%

General Electric (GE)

XLI

+5.33%

Kimco Realty (KIM)

XLRE

+5.13%

Professional investors continue to be backed into a corner hoping the rally fails, and more and more have to earn their pay.