Sector Prices vs. Summer Lows
Bespoke Investment Group
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As of an hour before Thursday's close, the S&P 500 was on pace to have its worse day since at least late June 26th on continued concerns over Financials and the economy. Additionally, Thursday's generally negative same-store sales figures for the retailers haven't helped. With these headlines in mind, one would think that the Financials and Consumer Discretionary stocks would be among the weakest sectors out there. While the Financial sector was among the weakest yesterday, when we look to see where sectors are currently trading with respect to their Summer lows, the two that are up the most are Financials and Consumer Discretionary.
On the downside, Utilities, Energy, and Materials are the only three sectors which are currently trading below their Summer lows.
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