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Market Insights

Bringing you the trading news around the world.

Fun and games on the rise: Midweek sector check

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The S&P 500 is up fractionally on the week as investors target some newer areas of the market. Here’s a breakdown of the best- and worst- performing industry groups at the half-way point:

Winners:

  • Media is the biggest gainer, led by 10 percent surges in Twenty-First Century Fox (FOXA) and Discovery (DISCA). A judge’s decision letting AT&T (T) buy Time Warner (TWX) last night is spurring hopes of more buyouts in the sector.
  • Software and video-game makers are on the rise. While there aren’t a ton of immediate catalysts in the software space, several reported strong earnings in May. Video games are enjoying buzz from the E3 trade show that ends today.
  • Internet and e-commerce stocks have been rising. Twitter (TWTR) is the most prominent, but Grubhub (GRUB), Carvana (CVNA), Netflix (NFLX) and Snap (SNAP) have added at least 4 percent on the week. The biggest players like Alphabet (GOOGL), Amazon.com (AMZN) and Facebook (FB) have risen less than the smaller names.

Losers:

  • Banks are down more than 2 percent, but that could change after the Federal Reserve’s interest-rate announcement this afternoon.
  • Energy stocks continue to pull back from highs as investors grapple with uncertainty before OPEC’s June 22 meeting.
  • Home builders are down more than 2 percent, giving back some of last week’s gains.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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