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Wells Fargo Carries The Day

Stocks end near the highs for the day. It was all about Wells Fargo and The Real Estate Play (see my prior note).

The bottom line:

  • 1) Dow, S&P at 2-month highs
  • 2) NASDAQ near highs for year
  • 3) Volume modest, but demand for stocks improving

Sectors strength this month are in the most beaten-up areas:

  • Financials up 18%
  • Consumer discretionary up 12% (builders, retail)
  • Industrials up 11%
  • Healthchare, consumer, and utilities are the laggards.

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