Diamonds and Dogs
The two worst performing sectors YTD are going in different directions today. The financials look good following higher interest rates and better than expected earnings from the likes of Citigroup (C), Wells Fargo (WFC) and JP Morgan Chase. For some reason, Goldman Sachs (GS) was the diamond of the day up 2% to its best levels since January. Goldman will report earnings next week.
The healthcare space keeps moving lower. The worst performing sector for the year looked like it this week with the sector index back down to a three month low. Stocks like Celgene (CELG), Biogen (BIIB), Allergan (AGN) and ABBVie (ABBV) are at 3 month lows, Jazz Pharma (JAZZ) is at a 6 month low and Gilead Science (GILD) is at a 3 year low. Illumina (ILMN) was the dog of the week down 25%. Mission accomplished Hilary.
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