Reply To: Traders Market Weekly: Fed, Inflation and Profit Warnings

#43557
Truman
Participant

Dow +281.40 at 32435.07, Nasdaq +143.56 at 12255.84, S&P +44.39 at 4111.82

The stock market opened on a high note driven by carryover momentum from recent gains.

Buying is broad in nature with the Vanguard Mega Cap Growth ETF (MGK) (+1.3%), the Invesco S&P 500 Equal Weight ETF (RSP) (+1.0%), and the S&P 500 (+1.1%) all showing sizable gains.

S&P 500 sector performance also reflects the broad buying interest thus far with every sector showing gains ranging from 0.2% (utilities) to 2.3% (energy). Aside from utilities, a risk-on mentality has consumer staples (+0.4%) and health care (+0.5%) at the bottom of the pack.

Energy sits atop the leaderboard as oil prices trend higher. WTI crude oil futures are up 2.1% to $88.60/bbl.