This group of stocks is the leading indicator of the 21st century, Bespoke's Paul Hickey says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Look to one group of stocks for whether the S&P 500 secures new highs, says Paul Hickey, co-founder of Bespoke Investment Group.

div > div.group > p:first-child"> And there's one group of stocks to look at if you want to know what's next for this market, according to Paul Hickey, co-founder of Bespoke Investment Group.

Semiconductors, often the first step in the supply chain for the tech world, now act as a similar leading indicator to the Dow Transports, says Hickey. A swing lower in the Dow Transportation index typically reflects slowing demand for freight and logistics services and signals an economic slowdown, so goes the 19th century Dow Theory. In Hickey's argument, a slowdown in chipmaker demand has implications for the modern-day economy.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines