Broader market further strengthen as RSP vs $SPY, while IWM as outsized gains
8/6/2023 Market Diary
1) Broader market further strengthen as RSP $Invesco S&P 500 Equal Weight ETF(RSP)$ +0.74% vs SPY $SPDR S&P 500 ETF Trust(SPY)$ -0.35%., while IWM $iShares Russell 2000 ETF(IWM)$ +1.87% as outsized gains in small and midcaps are reflected at sub-market level across the board.
2) XLE $Energy Select Sector SPDR Fund(XLE)$ +2.65% outperformed the RSP $Invesco S&P 500 Equal Weight ETF(RSP)$ , making it the fifth sector to surpass the S&P500 $S&P 500(.SPX)$ in terms of % gain from 52-week low.
3) KRE $SPDR S&P Regional Banking ETF(KRE)$ and KBE $SPDR S&P Bank ETF(KBE)$ also demonstrated impressive +3.3% and +2.4% respectively, reaching new one-month highs and emerging as the strongest performing groups this week.
4) JETS $U.S. Global Jets ETF(JETS)$ & EWC $iShares MSCI Canada ETF(EWC)$ joins leadership group
5) Focus List: $Nano Labs Ltd.(NA)$ $Arcturus Therapeutics Ltd.(ARCT)$ $Immunovant, Inc.(IMVT)$ $Spectrum Pharmaceuticals(SPPI)$ $MiMedx Group, Inc.(MDXG)$
Image
The market's current narrative can be summarized in this straightforward manner.
Image
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- Newnew·2023-06-08HiLikeReport