In many cases, these still-reeling stocks are down significantly from where they were in February. While there have been a number of big winners43 stocks in total saw gains of 25% or more, including health care and technology names like ABIOMED , PayPal , and Amazon A quarter of the index, 126 stocks in total, saw declines of 25% or more compared to the Feb. 19 starting point. Norwegian Cruise Lines , Occidental Petroleum , and Carnival Corporation are the top three laggards over the period.
In an interview on CNBC following Tuesday's record close, Michael Yoshikami, CEO of Destination Wealth Management, described a "shift in demand" that explains why stocks haven't moved in unison since the market's last record. "It's not as if everything is rising," he said. "You pull money out of names that really aren't attractive given current conditions. And that money moves over to companies that are thriving in this environment."
As Yoshikami described, stocks in some sectors have fared better than others. In consumer staples, health care, and information technology, more than 50% of stocks posted gains between Feb. 19 and Aug. 18. In energy and utilities, however, less than 10% did so.But even within individual sectors, performance has not been uniform.
In the health care sector, performance varied just as widely. Abiomed led all stocks in the index with an 87% gain from Feb. 19 to Aug. 18, and West Pharmaceuticals and Regeneron, at 58% and 54%, were also among the top performers. But more than 40% of stocks in the sector were down, including Dentsply Sirona , Universal Health Services , and Cigna .
mtmalinen Fell asleep Friday with an open short 🩳on S&P. If Apple📱rallies again Monday. I'm toast 🍞 😬
the fucking gobern has killed the economy. Traders we are fucked, I can not trade anymore based on economic data.
Most of 3,300 firms on Nasdaq dropped at rate 2.4:1. Yet 58% of volume went into advancers Wow! All are buying a few dozen behemoth stocks & abandoning the rest Oddly, market is exploiting disaster, the worse it gets the more consolidation (bc bonds are 0%) Eventually over$-ed.
Stock will correct and go down 15-20% soon, with lot of cash people have are using to buy stocks as they don't go out, day care is closed... focused on Online and Tech company stocks...
robots and algorithms
Cap weighted slapdicks
This market is a POS and the sooner people realise that and get out the safer they will be because when this bubble pops it will be horrid
mtmalinen Since COVID19, the S&P 500 is increasingly becoming a reflection of the political and economic system. A PLUTOCRACY.
Free enterprise exchange or free commodity order
Vote Trump Jobs
Any person, believer or not, who signs their name in support of a political party that authorizes the killing of the unborn is signing their ticket to hell
The S&P 500 hit a record on 7 stocks, the FANGMAN's. It should be renamed The Magnificent Seven.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »