September 24, 2021
Real Estate

Premarket stocks: Investors are starting to play defense as the bull run matures

What’s happening: The S&P 500 and the Nasdaq Composite both closed at all-time highs on Monday after shares of Apple (AAPL), Google owner Alphabet (GOOGL), Facebook (FB) and Nvidia (NVDA) all hit new records.

But even as tech stocks continue their dizzying ascent, some on Wall Street have decided it’s time to play defense.

Exchange-traded funds tracking traditionally “defensive” sectors — health care, utilities and real estate — outperformed in July and August.

The Health Care Select Sector SPDR Fund (XLV) is up 7.5% so far this quarter, while the broader S&P 500 has risen 5.4%. The iShares US Utilities ETF (IDU) has climbed 7.7%, while the iShares US Real Estate ETF (IYR) has increased 6.2%.

Companies that produce consumer staples, which also get a boost when investors turn defensive, have notched more muted gains. The Consumer Staples Select Sector SPDR Fund has risen 3% in July…

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