Reply To: Traders Market Weekly: Climbing The Wall of Worry

#56764
Truman
Participant

Dow -190.58 at 33839.02, Nasdaq -59.02 at 12107.24, S&P -11.70 at 4135.79

Weak mega cap stocks are weighing on index performance. The main indices all hit session lows recently.

The Vanguard Mega Cap Growth ETF (MGK) is down 0.2% while the Invesco S&P 500 Equal Weight ETF (RSP) trades flat. Microsoft (MSFT 286.74, -3.09, -1.1%) and Amazon.com (AMZN 101.90, -0.46, -0.4%) are among the worst performers from the space.

Most of the S&P 500 sectors fell into negative territory as the market declined.

The S&P 500 financial sector (+1.2%) outperforms, helping to offset some mega cap-induced weakness.

JPMorgan (JPM 138.05, +9.05, +7.0%), Citigroup (C 48.63, +1.32, +2.8%), and BlackRock (BLK 695.18, +24.45, +3.7%) are some of the top performers while Wells Fargo (WFC 39.60, -0.04, -0.1%) and PNC Financial (PNC 119.33, -2.08, -1.7%) lag following earnings reports from all the aforementioned names.