The S&P 500 is on track for another record, but market breadth is terrible.
Only 171 stocks in the index are rising with the index up 0.1%. Top performers include Super Micro Computer, Nike, Advanced Micro Devices, and Tesla. The Nasdaq Composite is up 0.3%. The Dow is flat, flitting in and out of positive territory, as it struggles to top its Dec. 4 closing high.
The only sectors working were energy, consumer discretionary, and tech. WTI crude oil futures were up 2%, which explains energy. The rest was a rotation back to risk and momentum.