Reply To: Traders Market Weekly: Political Risks and Central Banks

#46001
Truman
Participant

The stock market opened somewhat weak before the major averages lifted into positive territory. The S&P 500 is defending the 3,700 level thus far.

Mega cap stocks are an important upside driver, with the exception of Tesla (TSLA 203.73, -18.29, -8.2%), which suffers heavy selling after disappointing quarterly results.

The Vanguard Mega Cap Growth ETF (MGK) is up 0.4% versus a 0.3% gain in the S&P 500 and Invesco S&P 500 Equal Weight ETF (RSP).

Roughly half of the 11 S&P 500 sectors trade up, led by communication services (+1.2%). Meanwhile, utilities (-1.1%) and consumer discretionary (-1.0%) show the biggest losses.