Defensive stocks are suffering today, with money reverting to homeworking and tech stocks.
SPDR Utilities Select Sector ETF (NYSEARCA: XLU) is the worst performing sector, down 1.5%, followed by the SDPR Consumer Staples Sector ETF (NYSEARCA: XLP), discount 1.25%.
REITs are particularly weak. The Vanguard Real Estate ETF (NYSEARCA: VNQ) it is down 1.4%. The real estate sector SPDR ETF (NYSEARCA: XLRE) it is falling 1%.
Among the office REITs, Office Trust Income Trust (NASDAQ: OPI) it is down 3.7%, with the city office (NYSE: CIO) down 0.7%, SL Green (NYSE: SLG) 5% discount and tormented (NYSE: VNO) down 4.8%.
Retail REITs were disabled, with EPR Properties (NYSE: EPR) down 2.9%, Simon Property Group (NYSE: SPG) off 2.9% and wealth growth (NYSE: SRG) 5.6% discount.
Healthcare REITs also had problems. The Janus Detroit Street Trust Long-Term Care ETF (NASDAQ: OLD) it is down 1%. Welltower (NYSE: OK) it is down 3.5%, Healthpeak Properties (NYSE: PEAK) it is down 5.3% and sales (NYSE: VTR) 5.4% discount.
Megacaps and techs lead the broader market during midday, while the Nasdaq has superior performance.
Amazon (NASDAQ: AMZN) it is 5.6% increase, picking up some losses from last week when it fell for five straight sessions. The stock received a sell-side boost as Goldman and Jefferies raised their price targets to $ 3,800. Goldman said the shift in demand to online shopping could “stay high in the coming quarters.”
The SPDR Information Technology Sector ETF (NYSEARCA: XLK) leads the sectors, up to 1.6%.
XLRE is discount 4.3% in the last month, compared to a 3.2% profit at the S&P. The sector began to lose more ground against the overall market around July 1.
