Diamonds and Dogs

5/13/19

Ugly day for the broader market. The utility sector (XLU) is up nearly a percent as money shifts to defensive sectors. Gold and other metal stocks are higher as well. Alamos Gold (AGI) is trading up 6%. Even Bitcoin is trading higher today. Everything else, pretty much lower.

Escalation of the trade tariffs hitting the major averages hard, now down 2-3%, worst day since the start of the year. The Semiconductor index (SOX) which relies on business in China is down 4%. The tech sector (XLK) and the Nasdaq are down 3%. But every sector is lower other than the Utilities.

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