VIG Newsletter May 11 Update

Utilities On A Heater. Should we be concerned?

May 11, 2024

Recap

 The major indices all logged gains this week. The S&P 500, which ran into resistance at 5,200 on Tuesday before closing above that level for the first time since April 9, registered a 1.9% gain this week. The Nasdaq Composite logged a 1.1% gain and the Dow Jones Industrial Average saw a 2.2% increase.

This week's action left the S&P 500 and Nasdaq Composite less than 1.0% away from their record closing highs. Many stocks participated in the broad advance, leaving the equal-weighted S&P 500 up 2.0% for the week and all 11 S&P 500 sectors in the green.

The utilities sector saw the largest gain, jumping 4.0%.

The Vig Co. portfolio was up this week and we continue to lead the SP500.

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