Monday, June 8, 2020

The Big Bounce

How's this for a rebound:  From the high on February 19 through the low on March 23, the average stock in the S&P fell 39.1 percent. But the average stock in the S&P 500 is now up 54.7 percent since the March 23 low. 

There is only one stock in the entire S&P 500 that's down since March 23: the beauty company Coty, and it's down less than 2 percent.  There are only eight stocks that aren't up more than 10 percent since March 23, including names like Walmart, Costco, and Kroger.

The average Energy sector stock is up more than 107 percent since March 23, but these Energy stocks are still down nearly 30 percent year-to-date because they fell 60 percent from February 19 to March 23.  Consumer Discretionary, Financials, Industrials, and Materials all have average gains of more than 50 percent since March 23rd.

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