1.U.S. Small Cap Stocks Experienced a 6.5% Correction from Highs.
In an S&P obsessed market, small caps quietly post a better than 5% correction with close below 200day moving average.
Some sectors shone more brightly than others during Q2. Here is the y/y performance derby for the S&P 500 revenues growth: Energy (14.3%), Tech (9.7), Industrials (7.8), S&P 500 (5.7), Utilities (5.3), Consumer Staples (4.8), Financials ex-Real Estate (4.4), Consumer Discretionary (3.5), Health Care (2.4), Real Estate (0.8), Materials (-1.4), and Telecom (-3.9).
Here is the same for earnings growth: Energy (returned to a profit), Telecom (45.8%), Tech (34.3), S&P 500 (19.6), Utilities (14.2), Financials ex-Real Estate (13.0), Industrials (12.5), Health Care (8.6), Consumer Staples (6.7), Consumer Discretionary (1.9), Materials (-0.4), and Real Estate (-14.6).
An index tracking business conditions for U.S. private companies surged 44 percent from a year earlier.
August 11, 2017, 8:00 AM EDT
There’s rarely been a better time for American technology startups.
The Bloomberg U.S. Startups Barometer, which tracks the business conditions for U.S.-based private technology companies, reached a record high. A 44 percent increase from a year earlier was driven by a surge in the number of businesses that raised money for the first time, reflecting investors’ appetite to back the riskiest companies. The index, which goes back to 2007, doesn’t account for the frenetic days of the dot-com bubble.
“If you’re leaving Google or Facebook to go do your startup, this is probably the best time ever to do so,” said Wesley Chan, managing director at the venture capital firm Felicis Ventures. “There’s a lot of frothiness in early stage and seed investing.”