Monday, September 20, 2021

S&P 500 industrial stocks at 1-year low

Industrial companies were leaders among U.S. stocks as recently as four months ago. Now they are laggards -- and the shares “remain vulnerable,” Jonathan Krinsky, chief market technician at Bay Crest Partners, wrote in a report Friday. The ratio between the S&P 500 Industrials Index and the S&P 500 shows the reversal. After setting an almost 20-year low in May 2020, the ratio climbed as much as 21% in the next 12 months. The indicator then gave back 58% of the gain through Friday and finished the week at its lowest level in more than a year.

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