FYI: It has now been a month since US equities bottomed from their two-day sell-off following the 6/23 UK referendum to leave the EU. With that, we wanted to recap which sectors and industries within the S&P 500 have led and lagged the market since then. We’ll start with sectors. The chart below shows the performance of each S&P 500 sector since the close on 6/27. While the S&P 500 is up 8.2%, five sectors have outperformed and five have underperformed. Leading the way higher, Technology (+12.7%) has been a big outperformer, boosted by semiconductors, Apple (AAPL) and Facebook (FB) among others. On the downside, with the exception of Consumer Discretionary which has just barely underperformed, the four other sectors that have underperformed off the Brexit lows are all lagging by a wide margin. Not surprisingly, the three sectors that are up the least during this monster rally are all defensives.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/sector-and-industry-performance-post-brexit/
