No rhyme or reason today.
We've got the consumer packaged-goods companies rallying even as they have to be hurt by what is now the perennially weak dollar. We have scattered tech going higher, no doubt off the great numbers from Broadcom (AVGO) and Finisar (FNSR) . I think the market's made a judgment that Broadcom's management can't be as bullish as they were last night if premier customer Apple (AAPL) wasn't ordering a ton of stuff. Alphabet's (GOOGL) putting points on. But Nvidia (NVDA) is shedding them, as is Lam (LRCX) .
There's bizarre action in retail. Walgreens (WBA) , which has been a not-so-hot retailer this year, finally caught a bid. But Macy's (M) , Nordstrom (JWN) , Kohl's (KSS) ? All bad. Same with Walmart (WMT) . (Kohl's is part of TheStreet's Dividend Stock Advisor portfolio.)
And the oils cool off even as crude ticks up.
If you can make sense of it, let me know. To me, it's the most random day of the week, made up principally of profit-taking and a belief that perhaps the worst is over for the drug stocks. I have to tell you that, to me, the drug companies simply aren't the clear issue.
They are too easy to call and too easy to bash and pharma's hated more than big oil for many.
Now there's a statement for you.