XLV - XLV: Pivotal Week Of Earnings For Healthcare Stocks
2024-04-29 06:00:00 ET
Summary
- A trio of top 10 holdings from this S&P 500 healthcare sector ETF report this week (LLY, the largest holding, PFE and AMGN).
- Despite being loaded with quality businesses, this sector is not showing signs I look for to produce high long-term returns from here, and I think a full washout is needed first.
- I rate XLV a Hold because it is bent but not broken, but I am very underweight healthcare for now.
Investor attention each earnings season tends to tilt heavily toward the biggest tech stocks. But with 3 of the top 10 holdings of the $38 billion Health Care Select Sector SPDR Fund ETF ( XLV ) reporting earnings this week, and 5 of the "Magnificent 7" stocks having reported already, this has potential to be a key week for a sector that could draw more attention....
XLV: Pivotal Week Of Earnings For Healthcare Stocks