Main US indexes down, but off lows; S&P 500 now off ~0.7%
Financials weakest S&P sector; Energy leads gainers
Dollar gains; gold up >1%; crude rallies ~7%; bitcoin dips
US 10-Year Treasury yield jumps to ~4.44%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
PRICE MOMENTUM MAY NOT PERSIST IN INDUSTRIALS
Industrials are the best-performing S&P 500 index sector so far this year, but recent price momentum may not persist, according to Brian Belski, chief investment strategist and leader of the Investment Strategy Group at BMO Capital Markets.
"Sector fundamental trends continue to lean slightly negative, he writes in a note this week.
But selectivity is key, he says.
"We would...recommend a growth at a reasonable price $(GARP)$ strategy as an opportunistic way to gain Industrial exposure in the current environment." He says the firm maintains a "market weight" view on the sector.
"Revisions breadth has improved, but earnings growth remains weak while relative valuation is slightly above average," Belski writes.
The S&P 500 industrials sector .SPLRCI is down 0.4% on the day and up 8.4% year-to-date. The S&P 500 .SPX is up just over 2% for the year so far.
(Caroline Valetkevitch)
*****
EARLIER ON LIVE MARKETS:
INDIVIDUAL INVESTORS SEEM TO THINK DISCRETION IS THE BETTER PART OF VALOR - AAII CLICK HERE
PROPOSAL TO END FED’S INTEREST PAYMENTS TO BANKS WOULD SHIFT COSTS CLICK HERE
CONSUMERS CHEER UP WITH TARIFFS ON PAUSE: UMICH EXPECTATIONS JUMP NEARLY 22% CLICK HERE
US INDEXES DOWN 1% EACH AS ISRAEL-IRAN CONFLICT WEIGHS; ENERGY UP CLICK HERE
DEGLOBALIZATION ISN'T A THREAT, IT'S A TRADE, BERNSTEIN SAYS CLICK HERE
CRUDE OIL FUTURES RUN-UP, BUT SO FAR REPULSED BY RESISTANCE CLICK HERE
EUROPE'S AUTOS MALAISE TO CONTINUE UNTIL OUTLOOK CLEARER CLICK HERE
OIL MOVES SHAKE UP RISK OFF CURRENCIES CLICK HERE
WHERE NEXT FOR OIL PRICES CLICK HERE
AIRLINE STOCKS FALL, ENERGY GAINS CLICK HEREEUROPE BEFORE THE BELL: FUTURES TUMBLE ON ISRAEL'S STRIKE ON IRAN CLICK HERE
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.