The S&P 500 (^GSPC) briefly reached a record high of 5,000 in intraday trading Thursday, but ended the day below the new mark. Yahoo Finance's Jared Blikre examines which stocks have hit all-time highs, while also analyzing sector trends.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor's note: This article was written by luke carberry morgan.
video transcript
Julie Hyman: A milestone day for Wall Street. The S&P 500 hitting his 5,000 mark isn't the only thing that's making headlines. Jared Blikre provides an overview and full transcript.
Jared Breichle: I hate to say it, but I keep repeating myself. The NASDAQ 100, S&P 500, and Dow all hit record highs. As you said, the S&P 500 finally ticked the top tick of 5,000.
And it was actually just above the high for the day, but as you can see, it closed right below it. Not the biggest deal. I think the only reason, or one of the main reasons, that this gets attention is not only because it's a big psychological number, but also because there's a lot of option activity that affects it.
Now, let's move on to the all-time high prices of individual stocks. Microsoft is only up 1 basis point, but that's all it needs to set a new record. Then we got Eli Lilly, Broadcom, ASML, chip stocks, healthcare.
There's Costco, which is a consumer staple. TJX, it's the consumer's decision. Packers, that's shipping. Synopsis, it's a computer. Just to put everything into perspective here – PGR, it's financial – where we're seeing more and more broad-based participation in these highs.
I mentioned financials in today's Morning Brief. Today they have put public works and health care on the back burner. But what was it that outperformed today? By the way, one of the worst sectors this year and last year would be energy.
Energy rose 1%, followed by real estate, consumer discretionary, communications services and technology, which did not outperform much here. If you look at the Nasdaq 100, it's a mixed board. There are winners and losers on the left and on the megacap. Also, on the right, even though we're in the middle of earnings season or just after the heat of earnings season, there aren't as many big outperforming companies here.
Nevertheless, the sentiment market leaders I'm looking at today are: IPOs, IPOs had a strong day, but Bitcoin outperformed it in the previous hour. Disruption trade ARKK rose 2.5%.
Homebuilders hit record highs again, and chip stocks rose as well. I think these two deserve attention. Last year was an interesting mix, with home construction stocks and semiconductor stocks hitting record highs. And then there are small-cap stocks. IWM was in the spotlight again today, followed by retail.
So what went wrong? China, we have been beating that drum. Almost every day here, you're either the leader or the biggest laggard. Now, cannabis and emerging markets are the next biggest losers.
Check out our meme stock here. I haven't done this in a while, but I'm seeing more green than red. Palantir was announced a few days ago and its earnings.
Coinbase, it's a Bitcoin base stock and it's a crypto stock that is doing well like any other crypto stock today. An increase of 6 1/2%. Carvana up 9% So in addition to the heavyweights hitting record highs, some fringe companies in the market are also doing well today.
