Market Recap For July 25th, 2022
Markets were relatively quiet to start the week, spending the majority of the day in the red, which was expected.
With the FOMC meeting this week, GDP numbers, and earnings, its truly hard to forecast how the rest of the week goes. However, the rally is still intact.
Yesterday’s Sector Performance
The rally in oil took Energy stocks to the top of the market.
Discretionary stocks fell to the bottom.
Five-Day Sector Performance
Discretionary still leads the past week, with Energy getting close.
Communication Services is the only sector in the red.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Consumer Discretionary Select Sector SPDR (XLY)
The rally from the June low is still in force, but a pullback is underway. Until something changes, higher prices should be expected.
With that forecast in mind, the XLY and XLE are two of the top ETFs to consider if stocks continue to move higher.
Good luck!