market turning more to defensive stocks like pharma:Here why...
Please state precisely where you see this supposed sector rotation happening. Did it start today? Last week? Last month? Last quarter? When, exactly.
I see no evidence of it whatsoever. At best PFE follows the S&P, but usually lags it badly. Kindly show exactly where the "big boys" started preferentially buying this supposedly "defensive" stock.
Many financials were down today, after having hugely outperformed PFE all year, but so was PFE & most pharmas, despite ABT's good report. If that's your idea of rotation, please explain how that works.