What a day…
There was crazy strength out of the cyclical names today. XLB rose 3.3%, XLE rose 3.5% and XLI rose 1.6%. Meanwhile, XLK fell 0.1% and XLY fell 0.2%. These five things has never occurred simultaneously. The data for this goes back to 1998.
The S&P 500 rose 0.49%, the Dow rose 1.1% the NASDAQ 100 fell 0.50%. This has happened only once in the last five years and 22 times since 1985. 12 of those times were between 1999 and 2002.
Google fell 4%, Netflix fell 0.8%, Amazon fell 3.8% and Facebook fell 1.6%. Today was the first time this has ever happened while the S&P 500 finished green.
Crude Oil rose 13.9%, its biggest move since January 2009 and the seventh biggest move since 1983.
At one point, financials were down 2.8% early in the day, they managed to finish green. This has only happened four times over the last five years.
The U.S. dollar fell 1.6%, its fourth biggest drop over the past 5 years.
Tomorrow should be interesting….