Top 10 Stocks for Each of the Top Performing Sectors
Followed by a year marked by the worst financial crisis since the Great Depression, optimism for a modest recovery seems to have taken root among some investors.
”We've made the lows for the cycle; we won't go up in a straight line, we'll have a saw-tooth pattern, but I think we'll get to 1,200 [for the S&P] before the year is out,” said Byron Wien, Pequot Capital Chief Investment Strategist, during an interview on Squawk Box yesterday. (Read Byron Wien's Top Ten Predictions for 2009)
In the last eight trading sessions and as of yesterday's close, the S&P 500 Index was up 8.3%, followed by a gain of 7.6% for the NASDAQ 100, a rise of 7.1% for the Dow, and an increase of 9.8% for the Russell 2000. Today, the markets are down on some tough economic news.
Within the NASDAQ 100 Index, companies such as Microsoft (MSFT), Google (GOOG), and Cisco Sytems (CSCO) jumped over 7% in the first three trading days of the year. The biggest gainers as of yesterday included NII Holdings (NIHD), Wynn Resorts (WYNN), and Sun Microsystems (JAVA), each having jumped over 30% YTD.
The following table depicts the top ten percent gainers in the NASDAQ 100 for the first three days of the year:
Top S&P Sectors YTD
Among the major sectors in the S&P 500 Index, the Information Technology Sector is leading the way with a gain of 8% YTD. The S&P Technology sector is above its 50-day moving average, and it’s trading at its highest level since November 5, 2008. Companies such as International Business Machine (IBM), and Hewlett-Packard (HPQ), are up 6% and 8% respectively in 2009.