Ryan Detrick: S&P 500 drops 1 percent as 57 stocks reach new 52-week highs

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22 hours ago

Ryan Detrick: S&P 500 drops 1 percent as 57 stocks reach new 52-week highs — S&P 500 drops as 57 reach highs

Ryan Detrick, chief market strategist at Carson Group, observes a mixed day for markets as the S&P 500 declined by 1 percent on Friday.

Despite the broader index fall, Detrick points out that 57 individual stocks still managed to register new 52-week highs.

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Detrick recently highlighted that major memory chip stocks, including Micron and AMAT, are down over 20% from recent highs but remain up year-to-date, according to a previous market review. Earlier this year, he reported that Carson Group’s proprietary economic index is signaling rapid economic improvement in the U.S. in a separate update. These signals come as investors weigh mixed signals in equities and broader economic data.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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