Market Marked By Indices Holding Up, Bloodbath at Sector Level
Jul 30, 2021
• 5
Min Read
Summary
- S&P 500 closed at 4,395.26 slightly down from an ATH of 4,411.79 last week
- The market-action Friday marked a recent reversal, with re-opening and reflation plays declining and sectors like Real Estate and Staples eking out minor gains
- Despite the rising cases of Delta Variant, the economy is continuing to show strength and the VIX has not spiked in a major way since the sell off on July 19th
- The violent activity within sectors and various names have likely de-risked many portfolios. The path of Delta seems to us to be near a peak. If this is true, we expect a m...