Apparel Retailers Sink To Four Month Low

May 23 13:05 2019 Print This Article

Market Recap for Wednesday, May 22, 2019

Our major indices finished with losses on Wednesday, despite strength in defensive sectors.  The S&P 500 and Dow  Jones held up best, falling just 0.28% and 0.39%, respectively.  The primary reason is that more defensive stocks are represented on those two indices.  Defensive sectors actually performed quite well yesterday with utilities (XLU, +0.75%), healthcare (XLV, +0.57%), real estate (XLRE, +0.47%), and consumer staples (XLP, +0.45%) all gaining.  If you were seeking relative strength, you needed to be in those areas.  The remaining 7 sectors finished in negative territory, led by a very weak energy group (XLE, -1.55%).  Crude oil ($WTIC, -2.71%) had a rough day and is threatening a breakdown:

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