20 Mar '23 at 8:49 am #55267
Dow +329.65 at 32191.54, Nasdaq +1.39 at 11631.90, S&P +24.54 at 3942.45
There’s more underlying strength today than index level performance may suggest. The Invesco S&P 500 Equal Weight ETF (RSP) is up 1.4% versus a 0.6% gain in the market-cap weighted S&P 500. Also, advancers lead decliners by a greater than 3-to-1 margin at the NYSE and a 3-to-2 margin at the Nasdaq.
Most of the 11 S&P 500 sector trade up led by materials (+1.8%), financials (+1.8%), and energy (+1.6%). Meanwhile, lagging mega cap stocks are weighing on their respective S&P 500 sectors — information technology (-0.6%), communication services (flat), and consumer discretionary (+0.3%) — leading them to last place on the leaderboard.