![]() ![]() The Energy Select Sector SPDR Fund fell more than 2% on Friday, the worst of any group, dropping 14% from its high. Energy correctionĮnergy stocks, the hottest part of the market in 2021, fell into correction territory on Friday as oil prices pulled back from their highs. We can find plenty of names to fill our portfolios and so remain fully invested," the value investor added. "There are pockets of what look like appreciable over-valuation and pockets of significant undervaluation in the US market, in my opinion. "The market looks broadly fairly valued to me, with most stocks priced to provide a market rate of return plus or minus a few percent," Bill Miller, chairman and chief investment officer of Miller Value Partners, said in an investor letter. ![]() ![]() The S&P 500 is up 15% on the year and is 1.51% below its record level. If that level held, it would have been the Dow's first close ever above 35,000.ĭespite the week's losses, the Dow is still up 13% for the year and sits just 1.15% from an all-time high. Data released before the bell showed retail and food service sales rose 0.6% in June, while economists surveyed by Dow Jones had expected a 0.4% decline. Stocks got off to a good start Friday with the Dow rising more than 100 points to above 35,000 shortly after the open. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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