Sick buying high & selling low? Fed up of the fees you pay? Tired researching investments? End your financial pain now. You have the opportunity to Risk-on trades flourished in the early part of the week. Several states announced plans to ease restrictions imposed to stem the spread of the coronavirus. Gilead Sciences’ (GILD) remdesivir offered hope of becoming an approved cure for COVID-19. This rally, however, started to unravel by the end of the week.
Leaders and laggards for the week ending May 1, 2020
For the week ending 5/1, the S&P 500 (SPY) lost 0.1%.
Energy (XLE), communication services (XLC), and materials (XLB) outperformed the S&P 500. Defensive sectors utilities (XLU) and health care (XLV) declined.
The S&P 500’s top winners list included:
Beaten-down cruise operators and REITs managing to hold on to gains from the ‘risk-on’ phase
Norwegian Cruise Line (NCLH) +27%, Kimco Realty (KIM) +23%, Simon Property Group (SPG) +23%, and Carnival Corp. (CCL) +17%
Companies reporting better-than-expected earnings
O-I Glass (OI) +27%, Fortune Brands Home & Security (FBHS) +18% and Principal Financial Group (PFG) +17%
Troubled buyout targets with offers in limbo
Delphi Technologies (DLPH) +20% and L Brands (LB) +16%
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