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5 minutes ago
Krinsky said April is often the best month of the year for utilities.
Utilities have outperformed tech stocks so far in the S&P 500 (up 3.2% vs. 2.8%), and if history is any guide, April should be another good month.
Jonathan Krinsky, chief market technologist at BTIG, said Thursday that over the past 20 years, the first month of spring has been the best month of the year for utility stocks 80% of the time, even as interest rates soar. He pointed out that electric power companies have been doing well recently. “We are likely to break away from the multi-month basis.”
As a result, he argues, the Utilities Select Sector SPDR fund “looks timely here as a candidate for a bearish-to-bullish reversal.” Over the past 20 years, XLU’s average monthly return has been 2.15%, Krinsky wrote.
See chart…
S&P 500 utilities have gained 4.7% over the past month.
27 minutes ago
Location of the main mean
On Thursday, all three major stock averages hit new closing highs for the second consecutive session. Here are the key averages for the week before Friday’s trading:
— Lisa Kailai Han
46 minutes ago
Stocks with the biggest price movements after the bell: Lululemon, FedEx, and more
Below are the stocks with the most price movements in after-hours trading.
- Lululemon Athletica — The athleisure company’s stock fell 10%. Lululemon issued a weak outlook, reporting slowing growth in North America.
- FedEx — Shares rose nearly 13% after the shipping company beat quarterly profit estimates.
- Dutch Bros. — Shares of the drive-thru coffee chain fell about 5%. Dutch Brothers announced the commencement of an offering of its stock by certain shareholders related to TSG Consumer Partners LP.
Read the complete list of transferred stocks here.
— Lisa Kailai Han
1 hour ago
Stock futures trading remains largely unchanged
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