USVM - The Rotation Continues. One Sector That Has Helped Fuel This Rotation...
2024-07-29 15:20:00 ET
Summary
- Small-cap stocks represented by the Russell 2000 index was the standout winner last week, along with the Dow Jones Industrial Average (DIA). The DIA is comprised of 30 stocks that include some of America’s largest financial companies, and that gives the Dow much more of a “value tilt”.
- It was a few very large-cap stocks that have been fueling this year’s rally in stocks. The S&P 500’s return for the first half of the year has been mainly driven by less than 10 mega-cap stocks, with Nvidia leading the way.
- This past week saw a shift (another rotation), as we are now beginning to experience momentum picking up in the equal-weighted S&P 500 index (RSP).
Welcome back, readers. Happy to have you. Whew, what a week!
If you were sleeping all week and did not witness the daily gyrations of the markets, you would awake at the end of the week to see that most of the markets went nowhere. Except small-cap stocks ( IWM ). Here is a recap of each day and the week:
The Rotation Continues. One Sector That Has Helped Fuel This Rotation...