June 18th 2023
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Key Takeaways
- Further confirmation for our positive outlook
- Sentiment looks quite stretched short-term but no extremes visible for now
- New all-time high in our Sector Rotation Strategy
Market Review |
U.S. stocks finished the week with stronger gains. The Dow Jones Industrial Average increased 1.3% during the week to finish at 34,299.12; its third positive week in a row. The S&P 500 added 2.6% in the same timeframe to close at 4,409.59 and recorded its fifth positive week in a row, the first such streak since November 2021. The Nasdaq jumped 3.3% from last Friday to end at 13,689.57. The heavy-tech index booked its best week since March and is up eight weeks in a row, its best winning streak since 2019. Except energy, all key S&P sectors ended in positive territory for the week, led by the technology sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed at 13.
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