An Hour Ago
If you’re looking ahead to April, it’s often the best month of the year for utilities, Krinsky says
Utility stocks are beating tech stocks so far in March (up 3.2% vs 2.8%) in the S&P 500 and if history is any guide, April will be a good month too.
The first full of month of Spring has been the best month of the year for utility stocks 80% of the time over the past 20 years, BTIG chief market technician Jonathan Krinsky wrote Thursday, noting that utilities have recently performed well even as interest rates have moved higher, and “look to emerge out of a multi-month base.”
Consequently, he argues the Utilities Select Sector SPDR Fund “looks timely here as a bearish-to-bullish reversal candidate.” The average monthly gain for XLU is 2.15% every April over the past two decades, Krinsky wrote.
See Chart…
S&P 500 Utilities are up 4.7% over the past month.
An Hour Ago
Where the major averages stand
All three major averages cinched record closing highs on Thursday, for the second session in a row. Here’s where the major averages stand for the week ahead of Friday’s trading:
— Lisa Kailai Han
An Hour Ago
Stocks making the biggest moves after the bell: Lululemon, FedEx and more
These are the stocks moving the most in after-hours trading:
- Lululemon Athletica — Shares of the athleisure company dropped 10%. Lululemon posted weak guidance and reported that growth in North America is slowing.
- FedEx — Shares gained nearly 13% after the shipping company beat quarterly earnings expectations.
- Dutch Bros — Shares of the drive-through coffee chain slipped about 5%. Dutch Bros announced the launch of a secondary offering of its shares by certain stockholders associated with TSG Consumer Partners L.P.
Read the full list of stocks moving here.
— Lisa Kailai Han
2 Hours Ago
