Leading this record setting U.S. market higher is a weird collection of stocks from much different backgrounds. On the one hand, you have your swimsuit issue
technology stocks, drop dead gorgeous and always camera ready. On the other hand you have your off-roading utility stocks, smelly and covered with mud.
Since when did the Hollywood tech start dating the Duck Dynasty utilities?
The healthcare sector is glowing and radiant, but so are the acne prone industrials and heavy machinery sectors.
Emerging markets have apparently been issued temporary visas, along with Europe. Then why is gold catching a bid, up 9% for the year?
We would have thought that an S&P 500 sitting around 2,400 at the beginning of June would surely be led by the class officers- financials, transports, healthcare, energy, and tech. Not by this hodge-podge of recruits.
But it is what it is. And if you want to participate in our never ending bull market as it stretches toward the nine year mark, you better set your biases aside and ride what’s working, even if it is a motley crew.