Trader Talk
- Hostage to Headlines
- Facebook Analyst Reports All Over the Map
- More Fallout From the Facebook Fiasco
- Facebook and Morgan Stanley's 99 Problems
- Lousy Economic Numbers, but Stocks Hold Up
- Eurobond Talk: Good News and Bad News
- Hopes Fading for Big Announcement From EU Leaders
- European 'Crisis Tennis' Again
- Facebook IPO 'Conspiracy' Theories Abound
- OK, Facebook Is Embarrassing
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Tech, Financial Sectors Show Leadership
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CNBC Reporter
The S&P 500 may close at its highest level since July, just before the markets explosion on the euro-crisis, the failure of U.S. lawmakers to agree on a debt extension, and the downgrade of U.S. debt by Standard and Poor's on August 5.
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Helping the markets are the two sectors with the largest weighting: tech and financials.
The Tech Sector is the largest of the 10 sectors in the S&P with a weighting of 19.6 percent.
The S&P Tech Sector hit a high of 445.36 today, which puts the sector just shy of an 11-year high. The last time the S&P Tech Sector saw a higher intraday level was back on February 20, 2001, when the sector touched 446.34.
Today’s high is not even half of the sector’s all-time high of 988.49 reached in March 2000. The sector has seen significant gains this year, up more than 8 percent, driven by Apple’s [AAPL
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] out-of-the-park earnings released last week.
Financials, at 14.2 percent of the S&P 500, are also strong, with heavyweights like Citi [C
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] and Bank of America [BAC
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] up nearly 4 percent.
Finally, the Dow Industrials are only 100 points from a new 52-week high, last hit on May 2nd, 2011 (1,2876).
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- Hostage to Headlines
- Facebook Analyst Reports All Over the Map
- More Fallout From the Facebook Fiasco
- Facebook and Morgan Stanley's 99 Problems
- Lousy Economic Numbers, but Stocks Hold Up
- Eurobond Talk: Good News and Bad News
- Hopes Fading for Big Announcement From EU Leaders
- European 'Crisis Tennis' Again
- Facebook IPO 'Conspiracy' Theories Abound
- OK, Facebook Is Embarrassing
Data is a real-time snapshot *Data is delayed at least 15 minutes
