Dear Chart of the Day Fan:
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Substack page.
Thanks for your interest. It’s appreciated.
Providers of metals, chemicals and other raw materials have become especially hot commodities for U.S. stock investors. More than 64% of the companies in the S&P 500 Materials Index set 52-week highs on Wednesday, according to data compiled by Bloomberg. The percentage was the highest since calculations of the industry gauge begin in 1989. Wednesday’s figure exceeded the second-highest level, reached on Nov. 9 and tied on Thursday, by more than seven percentage points. “This move is broad,” Strategas Research Partners LLC wrote Friday in a similar chart posted on Twitter.
Stocks Editor, Bloomberg RadioEditor, Chart and Stock of the DayStock of the Hour, Bloomberg Television
Author, Visual Guide to Financial Markets