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Below we highlight S&P 500 sector performance year to date through about noon today. As shown, just three sectors are underperforming the market so far this year, and the Financial sector is weighing heavily on the overall index's declines. Energy, Health Care, Technology, Materials, and Utilities have actually held up pretty well.
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What is interesting to consider is how different the componants of financials indexes are from just a few months ago. With many of the majors "gone" as a % of the indexes, it will be that much harder to get them materially lower from here. XLF is down > 75 from the peak...the Nasdaq dropped 78% peak to trough. I can see a higher low forming.
Posted by: ss | January 16, 2009 at 03:33 PM
Get out of the way....LIBOR moving up
Posted by: dj | January 17, 2009 at 12:51 PM