Stocks are on the rise as investors prepare for a slew of earnings this week. While many of the market gains this year have been concentrated within the "magnificent seven", the rally is starting to broaden. Yahoo Finance Markets Reporter Jared Blikre breaks down the numbers.
Video Transcript
SEANA SMITH: Well, markets posting slight gains as investors do await for a big batch of earnings this week and over the next several weeks. Jared Blikre has a closer look at some of the movement that we've seen since the start of the year.
JARED BLIKRE: Seana, I was just looking at some of the record highs we can expect today. And some of those that we've seen recently, and it's becoming a more diverse group. We talk a lot about concentration. And yes, there's going to be a NASDAQ 100 reshuffle, not going to really solve that.
But here, let me just go over some of the names that we've seen accelerate over the last month. We have, for instance, ON, that's a that's a semiconductor company. That's up 16%. Booking is in travel, that's up 12%. Pultegroup, that's home construction. DHI, another home construction. Nvidia, we know that's a chip company. We're seeing the-- we're seeing some of the returns spread out here, which is good to see.
Let me just show you what's happening in ETF world. XLI, so we have-- excuse me, XLK. This is the S&P 500 spider technology fund. Guess what? I'm going to show you a three-year chart, so you can see it is just peeking above the prior highs here. So we don't have any of the major indices at record highs. But guess what? The tech component of the S&P 500 is at a record high.
Now, I want to go to an unrelated field. This is home construction. We've seen that accelerate this year. Now, that got to its record highs actually a few weeks ago. It has accelerated beyond that. And now, here's another one this is a subset of the technology group. This is semiconductors. You look at a chart of stocks, it's a little bit different. But SMH, the VanEck offering of semiconductors. This is back up to its highs.
Then you take a look at industrials, guess what? A little bit different chart, it's at record highs. And then finally, value. So if you have tech and value also reaching both of those reaching record highs right now, difficult to make that concentration argument that we are trying to make a month ago, six weeks ago.
SEANA SMITH: And all changes. You've just got to take a week by week when it comes to the markets here. Jared Blikre, thanks so much for that.
