Wall Street Is Buying Pretty Much Everything Today
Dip-buying looks to be the name of the game on Friday as stock traders buy everything from energy stocks to financials to utilities.
The S&P 500 was up by 0.7%, with every sector in the index posting gains. The Dow rose 186 points, or 0.4%, while the Nasdaq was up 1%.
Typically when riskier sectors, such as information technology and consumer discretionary are higher, safer and more defensive investments like utilities move lower. That wasn’t the case on Friday as investors are buying up stocks after five straight days of losses.