The S&P 500 Is Doing Better Than It Looks
The Invesco S&P 500 Equal Weight ETF, a proxy for breadth because it counts every stock in the index the same, was actually up 0.1%. The Nasdaq Composite was down 1.1%, while the Dow was up 140 points, or 0.3%. Utilities and tech stocks, down 1.6% and 1.2% respectively, were weighing on the S&P. On the flip side, the energy sector was up 1.6%, while the materials sector was up 1.4%.