The bullish glow for US stocks has faded lately, but one thing that hasn’t changed is the strong relative performance of the health care sector. This slice of the US market continues to maintain a sizable performance edge over the rest of the field, posting a nearly 22% total return for the trailing one-year (252 trading day) period. But in a sign of the times, even the Health Care Select Sector SPDR (XLV) is showing the strains of the latest risk-off trade for the market overall. Although XLV closed above its 200-day moving average yesterday (July 8), the fund slipped below its 50-day average.
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● Fed policymakers maintained a dovish tone in the latest FOMC minutes…
● Consumer credit in the US increased 5.7% in May vs. year ago…
● US mortgage applications increased 4.6% for week through July 3…
● Germany’s trade surplus reached record high in May…
● Greece faces a deadline today for new proposals…
● But is staying in eurozone the bigger risk for Greece?