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This past Friday the S&P 500 Index closed with a reading of 2,297 up +0.73% for the day and +2.62% year-to-date. For the day the three best performing sectors were financials, energy and industrials. Year-to-date, the three best performing sectors are materials, technology and consumer discretionary.
Currently, Old_Skeet's market barometer for the S&P 500 Index has a fair value reading of 149. The barometer's fair value reading ranges form 147 to 153. Note: Forward Earnings Estimates are the main driver that's keeping the barometer reading in fair value territory; otherwise, it would reflect a reading of over valued but not over bought.
In checking the markets this morning as I write Europe is mostly down with the exception being London while Asia-Pacific is mostly up with the exception being Australia. Here in the States the furtures are pointing for stocks to be flat to down and government bonds up. The U S 10 year closed Friday with a yield of 2.469%.
