In last week’s edition of the Equity Leaders Weekly, we highlighted a turnaround in US homebuilding stocks which has continued and also broadened to include the wider US real estate sector. Real estate stocks over the long-term, along with Utilities, tend to be sensitive to and often move in the opposite direction to interest rates, similar to but often more volatile than bonds.
Pfizer (PFE) has been steadily dropping down in the rankings in the SIA S&P 500 Index Report since August of 2022, taking the shares from the green zone back down into the Red Unfavored Zone for the first time since August of 2021. Declines have accelerated in recent weeks with the shares plunging 173 positions in the last month to 306th place, including a drop of 22 spots yesterday.
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