Call toll-free 800.328.1267
It’s been 2-1/2 years since the Communications Sector was launched. And now the benefits are becoming apparent.
TradeStation data shows that the S&P 500 Communication Sector ETF (XLC) came within 0.05 percent of a new 52-week high yesterday, the closest of all the major sector funds.
That’s pretty impressive when you consider the S&P 500 Technology ETF (XLK) and S&P 500 Consumer Discretionary ETF (XLY) were 5 percent and 6 percent below their highs, respectively.
Remember that XLC was originally formed in September 2018 from members of XLK and XLY.
For example, Alphabet (GOOGL), Facebook (FB) and Twitter (TWTR) migrated from Technology. Walt Disney (DIS), Netflix (NFLX) and Comcast (CMCSA) migrated from Consumer Discretionary.
This has been good news for XLC because most of those companies have been crushing it.
GOOGL, for example, has enjoyed big advertising growth its last two quarters. FB and TWTR have also benefited from the trend.
DIS has exploded higher on strong growth for Disney+ and optimism about its parks reopening. Other Communications stocks like ViacomCBS (VIAC), Discovery Communications (DISCA) and Fox (FOXA) have surged as short squeezes and value plays.
For more, please see the full story on Barchart.com.
Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...