Market Recap For October 12th, 2022
Overall, yesterday was relatively boring market day. The S&P traded within its opening bar all day long in one of the tighter ranges in quite a while.
In all likelihood, markets stayed in a holding pattern until today’s CPI numbers are released at 8:30. Odds favor a volatile move afterward.
Yesterday’s Sector Performance
Energy stocks moved back to the top of the market, followed by Staples.
The Utilities sector struggled all day on Wednesday.
Five-Day Sector Performance
Energy has given some back lately, but the sector still leads the past week.
Yesterday also sent Utilities back to the bottom of the week.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Consumer Staples Select Sector SPDR (XLP)
For traders looking for the weakest stocks, look no further than Utilities. However, bullish traders might look at Staples and Energy.
As usual, the XLE is a top ETF for those wanting to trade Energy, while the XLP is a go-to for traders looking at Staples.
Good luck!