Although we see a weakening demand dynamic, demand continues to outweigh supply. This while equity prices continue to gain, as the S&P 500 gained about 30 basis points on a choppy trading day.
Whatever the reason, demand levels pulled back from higher levels in previous tradings. More so, financials, industrials, and telecoms all saw weaker demand on the price/volume heat map despite price gains in each. Noting another divergence, AAPL shares fell by about 5% in yesterday's trading on a disappointing iPhone announcement. The decline in AAPL shares throttled the tech index, despite relatively more upbeat demand, albeit still not above the 50% threshold. The weakest sectors of the bunch was utilities, as higher interest rates spooked investors looking for yield.
Whatever the reason, demand levels pulled back from higher levels in previous tradings. More so, financials, industrials, and telecoms all saw weaker demand on the price/volume heat map despite price gains in each. Noting another divergence, AAPL shares fell by about 5% in yesterday's trading on a disappointing iPhone announcement. The decline in AAPL shares throttled the tech index, despite relatively more upbeat demand, albeit still not above the 50% threshold. The weakest sectors of the bunch was utilities, as higher interest rates spooked investors looking for yield.
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