Some Interesting Market Stats for 2023

I sat on a Raymond James Strategy call last week, and I was interested by several characteristics of this year’s market, as of recent days.

The so called “Magnificent 7” are responsible for more than 100% of the S&P 500 return year-to-date. In other words, without those 7, the market is down for 2023.
Almost HALF of stocks (47%) are down greater than 20%.
Another 30% of stocks are down more than 10%.
2/3 of stocks are trading below their 200-day moving average. . .which is a technical term that indicates, in general terms, whether a stock is doing well (above the 200-day average) or “not doing well” (below).

It has been a tougher year than the indices may show. And, of late, we are seeing those high flyers return to earth to a degree. Nothing surprising. This doesn’t say anything about a prediction for what is ahead, but simply interesting data on the markets’ noteworthy year, so far. Recent days have not been too positive as we approach the end of October, but nothing of substantial concern amidst a landscape of challenging news. We continue to watch things closely.

Key

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