Dec 21, 2023 2 min read

Roaring Stock Market

The stock market came roaring back today led by the stock prices of companies that are benefitting from the Roaring 2020s. Strong results and guidance from Micron Technology boosted shares 9% today, while lifting other chip and semiconductor equipment stocks (chart). Micron is the largest US memory chip maker. Its chips go into a wide range of products.

The rally since the correction low on October 27 has been breathtaking (chart). Here is the performance derby of the S&P 500 and its 11 sectors since then: Real Estate (22.9%), Consumer Discretionary (21.1), Financials (18.7), Information Technology (18.7), Industrials (16.9), Communication Services (15.8), S&P 500 (15.3), Materials (13.8), Health Care (9.3), Utilities (6.4), Consumer Staples (6.4), and Energy (-0.2). Six of the 11 sectors have outperformed the market.

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