Stock market indexes (^GSPC, ^DJI, ^IXIC) are beginning to stabilize after selling off Tuesday in response to hotter-than-expected CPI inflation data.
Freedom Capital Markets Chief Global Strategist Jay Woods joins Yahoo Finance Reporter Madison Mills on the floor of the New York Stock Exchange to discuss yesterday’s market sell-off and the indexes’ path to recovery heading into Wednesday’s opening bell.
“It’s more of a broadening out. Everyone talks about the mega-caps having their run and lifting the indices on their shoulders. Well we’re seeing leadership in industrials, seeing it in financials minus the regional banks, and we’re also seeing it in healthcare,” Woods comments on market resiliency. “Those three sectors make up 49% of the Russell 2000 (^RUT) and that is why the Russell has remained neutral to up. We want to see the Russell get above 2000…”
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Editor’s note: This article was written by Nicholas Jacobino