Headed into the final hour of trading, with oil surging over 5.7% on the back of tensions escalating with Iran, energy stocks have been the top performers today. Capital Goods and the Software and Services industries are also experiencing strong rallies today. A strong earnings report from Oracle (ORCL) has been the major catalyst for Software and Services. The only industry groups to have moved lower are Consumer Services, Telecom, and Banks. Another factor in some stocks’ gains today has also been recent weakness so far this month.
In the chart below, we break up the S&P 500 into deciles (groups of 50) based on month-to-date performance headed into today’s trading. As shown, the 10th decile made up of the weakest stocks in June through yesterday’s close (the only decile with MTD decliners) has been one of the best-performing groups. The average stock in this decile is up 1.11% today. That is the joint second best performance across these deciles shared with the second-best performers on a MTD basis. Additionally, the best-performing stocks in June have continued to rally over 1% on average today. But neither the best nor worst MTD stocks are the leading decile, that actually belongs to the fourth decile with an average gain of 1.19%. Some names in this decile include ULTA (ULTA), Phillips 66 (PSX), and BlackRock (BLK).
The best-performing stock in June has been Under Armor (UAA) with an MTD gain through yesterday’s close of 18.82%. It is down around 1.17% today. Whirlpool (WHR), which has seen similar performance MTD, is holding up a tiny bit better, but is still in the red today, down 0.3%. On the other end of MTD performance, GAP (GPS) has gotten crushed in June falling over 12.5%. The losses have kept coming today as it has fallen just under half of a percent more. But the second-worst performer this month, Noble Energy (NBL), has been lifted by strength in energy and has rallied 6% today; nearly erasing all of its June losses. Start a two-week free trial to Bespoke Institutional to access our interactive tools and much more.