Investing Update: Mag 7 Falling Out Of Favor?
What I'm buying, selling & watching
The week ends with the S&P 500 now back above 6,000 for the first time since February 24th. Who would have guessed that after the way things looked only a few weeks ago.
For the week, the S&P 500 was up 1.5%, the Nasdaq up 2.2% and the Dow up 1.2%. Almost everything I track below in the market recap was up on the week except Bitcoin.
This now puts all three major indices positive for the year. The S&P 500 is now up 2% YTD. The Nasdaq is up 1.1% and the Dow is up 0.5%.
Market Recap
Weekly Heat Map Of Stocks
This week also saw some big moves in commodities.
It’s worth noting how much of a historic run this has been after a 20% drawdown for the S&P 500. It’s on track to have one of the most bullish bounces ever from a 20% drawdown.
All the volatility and tariffs definently threw the market off track but it has found its way back on course.
That course is starting to look like it may lead to new all-time highs. A month ago they looked like a distance memory. Now the S&P 500 is only off 2.3% from the all-time highs.