A third day of market weakness, as the S&P 500 fell in value by about 40 basis points. Except for the materials sector, which traded flat on price basis, the more cyclical sectors all traded down on the day.
Although the utilities sector gained the most on a pure price basis, the supply/demand dynamics for the group was neutral. The best supply/demand dynamics occurred in the telecom group, a multi-day occurrence for sector's names. On the negative side, the discretionary, staples, energy, and financial sectors all experienced a greater influx of supply.
Although the utilities sector gained the most on a pure price basis, the supply/demand dynamics for the group was neutral. The best supply/demand dynamics occurred in the telecom group, a multi-day occurrence for sector's names. On the negative side, the discretionary, staples, energy, and financial sectors all experienced a greater influx of supply.
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