Zillow senior economist Orphe Divounguy joinsWe're joined by Jared Blick to get you up to speed on the action from today's session.We had a little late day coming down off the highs for the major averages.So cutting some of its gains but still higher on the day, the NASDAQ up by 6/10 of 1% here.
And if we take a look at some of the leaders here, we can see for the day Solar was a big performer followed by disruptive small tech, that's the Arc Fund that you're looking at there, Arc Innovation Fund and then home builders after yesterday. Uh But, you know, just when they got back all within, close to new highs, uh you got a day like Thursday and I think what part of this was was we highlighted this earlier in the week, the S and P 500 equal weight index had underperformed the S and P 500 over the last six months by one of the widest margins on record.
But uh you know, it's, it's something to, to look for and, and we think longer term uh that you're better served in, in some of the smaller names within the S and P 500 or within the market overall in small camps.And it's good to see you, you know, it gets stressed, it comes back or does it like sort of do like a binging effect?
It was uh you were looking at the 87 crash, you were looking at uh the COVID lows and you were looking at October 2008. And as you said, it's puzzling that it's low while all of this is also going on in the market in terms of this uh re rotation.You know, there's the options market has changed a lot over the years.I think there's other people you that would have much better answers than me.But what I would say is I would ex you between now and the end of the year expect to see volatility move higher.
But what we, what we track coming into earnings season is what are analysts doing, uh, in terms of the estimates on the companies they cover in the weeks leading up to earnings season. So, uh, that's something to look forward to, uh, and be encouraged about during, in this earnings season and that's applicable to the broad market and not just a handful of names.Thanks President Biden trying to direct attention to his economic record in last night's news conference.It's going to cause inflation, things are going to skyrocket.
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