More signs of an accelerating economic recovery continued to support cyclical stocks even though the S&P 500 appeared stalled at record levels.
 | TUE, APR 27, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 134.39 | -0.33 | -0.24% | | INTC | 57.97 | -0.79 | -1.34% | | MSFT | 261.97 | +0.42 | +0.16% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 13.49 | -0.08 | -0.59% | | AAPL | 134.39 | -0.33 | -0.24% | | AMD | 85.21 | -0.20 | -0.23% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 134.39 | -0.33 | -0.24% | | AMD | 85.21 | -0.20 | -0.23% | | INTC | 57.97 | -0.79 | -1.34% | |
| |
More signs of an accelerating economic recovery continued to support cyclical stocks, even though the S&P 500 appeared stalled at record levels.
Data out Tuesday showed home prices in February registered the biggest gain in 15 years, rising 12% year over year and up from 11.2% in January, according to the S&P CoreLogic Case-Shiller home price index.
Meanwhile, consumer confidence climbed sharply to hit a Covid pandemic high, with The Conference Board's index jumping to 121.7 this month, the highest since February 2020.  "The main catalyst behind the confidence gain was the sharp improvement in the answers to the labor market questions, definitely helped by us getting closer to a full reopening and the increasing demand for labor," said Peter Boockvar, chief investment officer at Bleakley Advisory Group. One of the biggest gainers Tuesday was UPS, the world's largest delivery company, which saw its shares soar double-digits after earnings blew past Wall Street estimates. The company said first-quarter revenue was up 27% amid a boom in e-commerce deliveries. The Dow Jones Transportation Average rallied 1.4% on Tuesday, coming off its 12th positive week in a row for the first time on record. In comparison, the Dow Jones Industrial Average closed up just over three points, while the S&P 500 ended the day flat. |
Post a Comment