MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN GOOGL AND MSFT LONG-TERM
Stocks finished a bit higher today, as energy prices roses, and the XLE rose 1.7%. Additionally, the rotations back in the banks continued, with the XLF up about 90 bps. Overall, we see improvements in cyclical stocks as communication and technology names fade.
This wasn't unexpected, given that the economy seems to be holding up better than expected, and the cries for a bank crisis seem mute.
But I suspect the next two days may differ after Microsoft (MSFT) and Alphabet (GOOGL, GOOG) earnings release tomorrow, the Fed on Wednesday, and Meta (META) after the Fed.
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