View From The Hill: Stocks Advancing on Lighter Volume As Summer Approaches

Posted on Posted in Views From The Hill
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I’ll keep today’s comments brief. Here are some of today’s highlights worth noting:

  • Despite advancing equity indexes on U.S. exchanges, today’s session was rather light on the volume. This is to be expected as we approach the seasonally slow period of summer trading.
  • Among sectors, Consumer Staples (XLP), Consumer Discretionary (XLY) and Telecom (IYZ) were strong performers.
  • Latin American stocks may be peaking finally as buyer fatigue patterns emerge.
  • And then, there is Japan (EWJ), which was carried upward @ +1.84% as the Yen (FXY) halted its advance @ +0.02%.
  • In other asset classes, Real Estate exchange traded funds fared well as Construction Spending climbed 8% yr/yr.
  • Commodities showed signs of a correction as they declined along with the U. S. Dollar (UUP).
  • Fixed Income assets receded while both 10 and 30 year treasury rates have stabilized and found support.

(Please see our performance summary table below.)

 

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