The S&P 500 gained 1.1% final week in a transfer that places this Index at a file excessive. Whereas that is thrilling information for buyers, people who owned a few of final week’s high performers are in even higher spirits, as the common acquire for the highest ten movers on this Index was 10.3%. Much more uncommon was that nearly three quarters of those names had been from the identical trade group.
The trade group I am referring to is Semiconductors, which posted outsized features after a optimistic earnings report from the world’s largest chip producer, Taiwan Semiconductor (TSM), sparked a rally in these shares. Previous to that, a bullish report for Superior Micro (AMD)’s outlook put this inventory on its path to posting virtually 20% for the week. Subscribers to my MEM Edge Report will likely be acquainted with this inventory, as we highlighted AMD as a robust purchase on Sunday after which once more on Wednesday.
Day by day Chart of iShares Semiconductor ETF (SOXX)
Software program shares additionally outperformed final week, with the names from this space which might be on our Instructed Holdings Record posting features that preserve them in confirmed uptrends; they’re poised to commerce increased from right here. If you would like quick entry to this Record, use this hyperlink right here for a 4-week trial of my twice weekly report. Along with recommending management shares that usually go on to outperform the broader markets, this report retains you tuned into sector rotation, rate of interest outlooks, and different massive image ideas that preserve you on high of what is transferring the markets and, extra importantly, what to look out for.
This Sunday’s MEM Edge Report will evaluation extra occasions going down within the markets which might be uncommon. Amongst them, Progress shares are advancing, regardless of rates of interest remaining comparatively elevated, and whereas the S&P 500 is now at new highs, the Equal-Weighted S&P 500 has been languishing. Use the hyperlink above for insights into these and different counterintuitive actions shaping right now’s market.
Warmly,
Mary Ellen McGonagle
MEM Funding Analysis
Mary Ellen McGonagle is knowledgeable investing marketing consultant and the president of MEM Funding Analysis. After eight years of engaged on Wall Road, Ms. McGonagle left to change into a talented inventory analyst, working with William O’Neill in figuring out wholesome shares with potential to take off. She has labored with purchasers that span the globe, together with massive names like Constancy Asset Administration, Morgan Stanley, Merrill Lynch and Oppenheimer.
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