FYI: The relentless drive into defensive stocks is a logical way to cope for investors beset all year by signs a recession is at hand. It’s also a tough way to set a fresh stock record.
Buoyed by a supportive Federal Reserve and strong economic data, the S&P 500 climbed within points of an all-time high Thursday only to falter as investors snubbed the growth stocks that underpinned the record bull run. They clung to industries inured to economic cycles or that go up in lockstep with bonds, making real-estate and utility stocks -- among the puniest of S&P 500 groups -- the sole bearers of the rebound from August’s rout. Just about everything else is in the red.
Regards,
Ted
https://www.bloomberg.com//news/articles/2019-09-21/paranoia-written-all-over-s-p-500-in-struggle-back-to-a-record?srnd=markets-vp
