CNBC: How Many Stocks Are Left Behind In The Current Market Rebound?
If Friday's momentum is sustained throughout the trading session, U.S. stocks will record a six-day winning streak. But are all stocks participating in the rally? CNBC's Dominic Chu turned his attention to companies that are being left behind in the rally in a Friday segment.
What You Need To Know
Among the 500 companies who make up the S&P 500 index, 308 of them hit a 52-week, multiyear or all-time high at some point in 2018, Chu said during Friday's "Squawk Box" segment. Among those 308 stocks, 71 of them are still trading 10 percent or more below their highs.
Why It's Important
The 71 stocks trading at least 10 percent below their highs includes several Dow Jones Industrial Average components, Chu said. For instance, Home Depot Inc (NYSE: HD)'s stock is down 11 percent and McDonald's Corporation (NYSE: MCD)'s stock is down 10 percent.
Other mega large-cap names that are suffering higher declines include:
Ford Motor Company (NYSE: F): down 20 percent.
United Parcel Service, Inc. (NYSE: UPS): down 20 percent.
Delta Air Lines, Inc. (NYSE: DAL): down 13 percent.
What's Next?
UPS, Delta and Ford are all within the transportation industry and trading in clear bear territory, Chu said. Investors may want to keep a close eye on these names to see if they can catch "some positive momentum," he said.
Related Links:
A Peek Into The Markets: U.S. Stock Futures Up Ahead Of Economic Reports
10 Stocks To Watch For February 16, 2018
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