Market Recap For February 10th, 2022
Stocks were up in yesterday’s premarket, that is until the CPI numbers came out and sent stocks tumbling down more than two percent.
Markets rallied, with the Russell finding green and the S&P and Dow almost doing the same. However, everything rolled back over, leaving a bearish tone in the end.
Yesterday’s Sector Performance
Even though all sectors finished in the red, Materials held up best.
Utilities, Technology and Real Estate got hit the hardest.
Five-Day Sector Performance
Consumer Discretionary is still atop the market.
Real Estate and Utilities are now at the bottom of the week.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Utilities Select Sector SPDR (XLU)
Yesterday may have just been a blip before heading higher, but the day certainly wasn’t inspiring for the bulls.
If stocks are on their way down, Utilities and Real Estate may send both the XLU and XLRE even lower.
Good luck!