FYI: The S&P 500 is currently set to open above its May 21st, 2015 all-time closing high. Whether it actually closes at a new all-time high today is a different story, but we’re at least starting the day on a positive note. Below is a look at the performance of the ten S&P 500 sectors since the 5/21/15 all-time closing high. As shown, five sectors are down and five are up. The three defensive sectors — Utilities, Telecom, Consumer Staples — are all up double-digit percentage points. They’ve been by far the best performing areas of the market since last May’s high. The two cyclical sectors that are up over this time period are Industrials and Consumer Discretionary. The remaining five sectors have all been a burden on the broad index. Technology and Health Care are only slightly negative, while Financials, Materials and Energy are solidly in the red. The Energy sector is still down more than any other sector since the last all-time high for the market, but a few months ago things looked much, much, much worse.
Regards,
Ted
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