Classic risk-on sentiment lifts beaten-down sectors
The stock market is shaping up for a classic risk-on rally today and cyclical sectors are benefiting before the bell.
The SPDR Energy Sector ETF (XLE, +1.6%), the SPDR Financials (XLF, +1.4%) and the SPDR Industrials (XLI, +1%) are the top-three performers Those sectors tend to outperform when investors are pricing in economic improvement.
The SPDR Information Tech (XLK, -0.3%) and SPDR Communication Services (XLC, -0.2%) are lagging. These growth sectors, which hold four of the Fab 5 megacaps…