A hot streak for Martin Marietta and Vulcan |
Construction material firms Martin Marietta and Vulcan extended a recent run higher today. Vulcan notched its highest level on record, while Martin Marietta hit its highest level since January 2022 (though it’s closing in on an all-time high of its own). Both stocks are up over 30% in three months, far outpacing the S&P 500 and materials sector in that time.
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Solar stocks on pace for another weekly slump |
SolarEdge and Enphase have had disappointing weeks, with Enphase sitting less than 7% from a 52-week low. It’s on pace for its worst week since late April, while SolarEdge heads for its worst since mid-March (and its longest weekly losing streak on record). According to FactSet, 75% of analysts who cover each stock have buy ratings.
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PulteGroup, D.R. Horton hit fresh highs |
The consumer discretionary sector is the top performer this week (despite only being up 1%). While heavyweight Amazon carried the group today, the homebuilders are also worth a look. PulteGroup and D.R. Horton hit all-time highs today. Lennar was lower today but finished less than 2% from its record.
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Weakness continues in regional banks, with the SPDR S&P Regional Banking ETF (KRE) down over 3% Thursday. Bank OZK, Heartland Financial, Texas Capital and M&T Bank were among the biggest decliners. Despite the pullback, the KRE is still on pace for its first monthly gain since before the banking crisis.
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