The S&P 500 appears set to rise for its fifth consecutive month, and that's exciting news. Looking back at the last 28 times this happened, it performed remarkably well:
Now, remember, past performance doesn't guarantee future results, but it's definitely an interesting statistic worth considering.
Meanwhile, the sector rotation has brought more stocks into 52-weeks high territory. Technology mutual funds received a substantial $1.8 billion in inflows for the fourth consecutive week, showing significant momentum over the past eight weeks, while the Dow Jones Transportation hit a 52-week high on Thursday, boasting a remarkable year-to-date gain of +21%.
This index includes notable companies like American Airlines Group (NASDAQ:AAL), Avis Budget Group (NASDAQ:CAR), FedEx Corporation (NYSE:FDX), and Union Pacific Corporation (NYSE:UNP), among others.
The diverse strength across various sectors has helped the index.
Even the Homebuilders ETF (NYSE:XHB) recently touched a 52-week high.
Cathie Wood's investment funds evoke strong emotions — you're either a fan or a skeptic, with little room for neutrality. Disliking her funds may lead you to avoid investing in them, but going against them can be an expensive proposition.
Enter the AXS Short Innovation Daily ETF (NASDAQ:SARK), designed to profit when ARK Innovation ETF (NYSE:ARKK) declines and suffer losses when ARKK rises. Unfortunately, for investors in SARK, this year has been brutal, as ARK is up an impressive +51% year-to-date.
Admittedly, last year ARK experienced a steep plunge of -67%, leading many to believe the decline would continue. But the tides have turned, and betting against Cathie Wood's funds has proven to be a costly decision in 2023.
In the current
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