Buying on the spur of the moment will be the name of the game on Friday, as stock traders buy everything from energy stocks to financials to utilities.
The S&P 500 rose 0.7%, with all sectors within the index gaining. The Dow rose 186 points, or 0.4%, and the Nasdaq rose 1%.
Typically, as riskier sectors such as information technology and consumer staples rise, safer, more defensive investments such as utilities fall. That was not the case on Friday, as investors bought up stocks after five consecutive days of losses.
The materials sector was the least popular, rising only 0.2%. The most favored sector was utilities, which rose 1.4%.
On this day, all factor-based exchange-traded funds that target specific return factors rose in value. The iShares MSCI USA Momentum Factor ETF rose, but so did the iShares MSCI USA Quality Factor ETF, the iShares US Equity Factor ETF, and the iShares US Equity Factor ETF. 3 others.
Look for losses on individual stocks that day, especially airline and cruise line stocks. 126 stocks in the S&P 500 index fell. But the net result is positive.
