Financials, Energy Lead Market Rally Since June 4, Tech Lags
The S&P 500 index is up 7 percent since the index touched a five-month low on June 4, following tepid economic data from China and ongoing concerns over Europe.
The Russell 2000index has seen the largest gains since hitting a six-month low on June 4, up 9 percent. During the same period, volatility has fallen 39 percent.
The S&P 500 financials and energy sectors have led the rally, up over 10 percent, respectively, while technology has posted the smallest gains, up about 4 percent.
Despite the recent gains, the energy sector continues to trade down about 1 percent on the year (the only S&P 500 sector in negative territory).
Among the top 10 performing stocks, three are homebuilders: PulteGroup, Lennar, and DR Horton.