Semiconductors, the leading industry in the market since the AI boom started, soared 63% from October 30 until March 7, or in a little over four months. The group hung tough until finally cracking on Monday. The iShares Semiconductor ETF (SOXX) sliced through its 50-day this week for the first time since last August and has given back 11% in 28 days since its last all-time closing high. The three-month August to October 2023 decline was 17%, and that was after the 80% surge from October 2022 until August 2023. At its peak on March 7, the SOXX was up 24% year-to-date, but is now up 10%. Nvidia has yet to touch its 50-day, but the stock got close on Wednesday.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The first quarter of 2024 was rewarding for equity investors, as the S&P 500 increased 10.2%. Much of the market participated, as the S&P 500 Growth Index advanced 12.6% and the S&P 500 Value Index rose 7.4%. Leading sectors included Communication Services (+15.6%), Energy (+12.7%), Technology (+12.5%), Financials (+12%), and Industrials (+10.6%). The average stock in the Argus Universe of Coverage rose 8.0% during the year, and the median stock advanced 7.2%. The average BUY-rated stock increased 9.9%, while the average HOLD-rated stock gained 3%. Will the market's breadth hold up for the balance of 2024 or will investors revert to the so-called Magnificent 7? Will small-caps pick up their pace (the Russell 2000 was up "only" 4.8% in 1Q) or is the current bull-market rally due for a break, with some profit-taking coming into play? Given declining interest rates, we expect growth stocks to continue to lead stocks higher, while the risk of recession puts a premium on clean balance sheets, which are also more prevalent among large-caps. Investors seeking value are encouraged to focus on dividends and look for yields in the 3%-4% range. Here are the Top 10 Performers from the Argus Universe last quarter (including representatives of six of the 11 major sectors) as well as the Bottom-Five Performers.

Market trends often persist longer than most expect. That is why it can be a good idea for an investor to allocate capital toward the highest relative-strength opportunities. Over the long-term, this has made it very difficult to be a value investor. Back in the late 1970s, there were very few momentum investors, very few market technicians, and a whole lot of people in the financial world searching for value. Socks trading below book value, stocks trading for less than the cash on their balance sheet, and stocks trading for single-digit price/earnings ratios. It was a very different investment world.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks are up following yesterday's PCE inflation reading. Shares of Dell Technologies (DELL) popped after the company's latest quarter came in ahead of expectations, boosted by AI-server demand that is currently exceeding supply. Spirit Aerosystems (SPR) is up on news that Boeing (BA) is in talks to acquire SPR. The S&P 500 is up 0.5%, the Nasdaq rose 0.7% and the Dow is us less than 0.1%. Crude oil is trading above $80 per barrel and gold is up $32 to $2087 per ounce.

When it comes to researching earnings for the S&P 500, we think it makes sense to focus primarily on a few key sectors that can actually make a difference. As an example, the Real Estate sector, which accounts for about 2% of S&P 500 capitalization, contributed only 1% of S&P 500 EPS during the recent 4Q EPS period, which is starting to draw to a close. Basic Materials is another 2% market weight that generates a thin 2% of total earnings. We don't think clients should be spending a lot of time trying to get these sectors right. The groups that really make a difference are going to be Information Technology, which has accounted for 24% of the earnings, the largest contribution in a year; and Financial Services and Healthcare, which are expected to account for 17% and 14%, respectively. Perhaps not surprisingly, these are three economic sectors in which the United States enjoys competitive advantages versus other nations. At the next tier, the Industrial, Consumer Discretionary, and Communication Services all appear in line, with market-cap weights and earnings contributions in the 9%-10% range. We note that the Energy sector punches above its weight, accounting for less than 4% of total market capitalization but generating 6% of S&P 500 profits.

Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of approximately 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Jim typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY at Argus.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Dell Technologies Inc (DELL); Autozone Inc. (AZO); Pinterest Inc (PINS); Oshkosh Corp (OSK) and the Focus List deletions are MongoDB Inc (MDB); Old Dominion Freight Line, Inc (ODFL); Tesla Inc (TSLA); Twilio Inc (TWLO).

Stocks fell on Monday morning as investors reassessed prospects for Fed rate cuts in 2024 and awaited the November employment report on Friday. On the M&A front, Hawaiian Holdings, the parent company of Hawaiian Airlines, soared on news of a buyout offer from Alaska Air Group. The Alaska offer of $18 per share represented a 270% premium to the HA closing price on Friday. Elsewhere, Spotify shares rose more than 8% after the music streaming service announced a new round of layoffs, while Uber rose nearly 5% after being added to the S&P 500 index. The Dow fell 0.4%, the S&P 0.7%, and the Nasdaq 1.1%. Crude oil fell nearly 1% to $73 per barrel while gold traded near $2043 per ounce.

Stocks broke a nearly two-week-long winning streak on Thursday, and the reason was in plain sight. Investors may like to focus on stocks, but they ignore bonds at their peril. The Treasury conducted a 10-year bond auction, which Argus fixed-income strategist Kevin Heal called "a bit messy, with lower demand." With the 10-year yield rising from 4.51% pre-auction to 4.63%, stock indices sold off by 0.6% to 0.9%.

Stocks stumbled in 3Q, as the S&P 500 declined about 3.5% after gaining for three quarters in a row before that. The new bull market remains intact, but is wobbling from labor strife, high interest rates, and a (for now at least) deferred government shutdown. Year-to-date, the broad market index is up about 11.7%. Sector performance shifted in 3Q, as value-oriented groups such as Energy and Financial Services were leaders. The Technology sector dropped 3.0%, but remains up 34% year-to-date. The average stock in the broadly diversified Argus Fundamental Universe of Coverage declined 3.2% during the quarter, and the median stock fell 4.7%. The average BUY-rated stock dipped 2.3%, while the average HOLD-rated stock gave back 5.3%. Here are the 10-best (many from the Energy sector) and five-worst performers from the Argus Universe in 3Q23.

Stocks declined on Thursday morning. According to the Labor Department, initial jobless claims fell 13,000 to 218,000 in the latest week, which was lower than expected. Ongoing unemployment claims fell 40,000 to 1,679,000. U.S. nonfarm labor productivity was revised up slightly to an increase of 3.5% in the second quarter. Apple continues to fall after a report that China has banned government officials from using iPhones for work. The S&P 500 fell 0.3%, the Nasdaq was down 0.1%, while the Dow rose 0.2%. Crude oil traded near $87 per barrel and gold fell $1 to $1943.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Tesla Inc (TSLA); Walmart Inc (WMT); Merck & Co Inc (MRK); Adobe Inc (ADBE) and the Focus List deletions are DraftKings Inc. (DKNG); Dell Technologies Inc (DELL); Thermo Fisher Scientific Inc. (TMO); Coca-Cola Co (KO).

Monday Tee Up: All Eyes on Last Week and Next Week

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

We recently raised our rating on the Technology sector to Over-Weight from Market-Weight. As interest rates start to fall, IT demand in enterprise and data center markets is holding up. And mounting interest in ChatGPT could herald the age of AI, which could be a huge industry driver. Over the long term, we expect the Technology sector to benefit from pervasive digitization across the economy, greater acceptance of transformative technologies, and the development of the Internet of Things (IoT). Healthy company and sector fundamentals are also positive. For individual companies, these include high cash levels, low debt, and broad international business exposure. The sector is outperforming the market thus far in 2023, with a gain of 12.4%. Tech underperformed the market in 2022, with a loss of 28.9%, and outperformed in 2021, with a gain of 33.4%. The P/E ratio on projected 2023 earnings is 23, above the market multiple. Earnings are expected to grow 14.5% in 2023 after having fallen 3.3% in 2022. Earnings rose 37.9% in 2021 and 7.7% in 2020. The sector's debt ratios are below the market average, as is the average dividend yield of 0.5%. Here is how we use our analysts' Technology sector ideas in our Focus List and Model Portfolios.

Stocks rose on Friday morning, extending their Thursday rally. Services sector data was better than expected. The Institute for Supply Management said that its nonmanufacturing PMI slipped to 55.1 in February, down slightly from 55.2 in January but still indicating expansion. The reading also topped the Reuters consensus forecast of 54.5. On the earnings front, Costco shares fell more than 3% after the company missed the fiscal 2Q consensus sales estimate amid cautious consumer spending. The Dow rose 0.7%, the S&P 1.1%, and the Nasdaq 1.3%. Crude oil rose more than 1% to $79 per barrel, while gold rose $13 to $1853 per ounce.Stocks rose on Friday morning, extending their Thursday rally. Services sector data was better than expected. The Institute for Supply Management said that its nonmanufacturing PMI slipped to 55.1 in February, down slightly from 55.2 in January but still indicating expansion. The reading also topped the Reuters consensus forecast of 54.5. On the earnings front, Costco shares fell more than 3% after the company missed the fiscal 2Q consensus sales estimate amid cautious consumer spending. The Dow rose 0.7%, the S&P 1.1%, and the Nasdaq 1.3%. Crude oil rose more than 1% to $79 per barrel, while gold rose $13 to $1853 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of over 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Jim typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY at Argus.

The outlooks of purchasing managers -- and the manufacturing sectors they represent -- have turned negative in recent months, due in part to supply-chain woes, the Russian invasion of Ukraine, and now higher interest rates. In fact, most manufacturing sectors now are contracting, compared to earlier this year when they were still expanding. Consider the Eurozone, which had a Purchasing Managers Index reading of 58.4 in 1Q22 and is now down to 49.6% (a reading below 50% indicates a contracting manufacturing segment). Manufacturing stalwart Germany has slipped to 49.8% from 58.4%. And the latest UK reading is 47.3% versus 54.6% in the prior quarter. China manufacturing is also contracting; the most-recent PMI reading in the world's second-largest economy was 49.5%. Japan also reported a PMI of 49.5%. The one economy that had been holding on? That was the U.S. -- but the latest PMI reading in November was 49%, while New Orders struggled even more at 47%. Other industrial indicators remain mostly positive. Total Manufacturing New Orders were steady month-over-month in September, and are now 12% higher year-over-year. Nondefense Capital Goods Excluding Aircraft were slightly higher month-over-month in October and have risen 7% year-over-year. Orders for Durable Goods rose month-over-month in October to $277 billion. Still, we note that those are historical growth rates. The PMI data is pointing toward a contraction.

Each December, Argus surveys its team of analysts, seeking their best ideas for the upcoming year. The Argus Research team draws on its experience (the average analyst has 18 years of Wall Street experience and 10 year at Argus), as well as the company's proprietary six-point research framework and earnings and valuation models to make the calls. Argus analysts cover the waterfront (every sector from Energy to Healthcare to Consumer to Technology), so each sector is represented. This year's list includes some long-time favorites, as well as some recent upgrades and new initiations. The list includes mostly large-caps and mid-caps, and both growth and value stocks. We will be going over the list in more detail during our January webinar and detailing why each stock has been selected by the covering analyst. In the interim, more information on each of these BUY-rated stocks is available on our website.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Corteva Inc (CTVA); Dell Technologies Inc (DELL); Exxon Mobil Corp. (XOM); Thermo Fisher Scientific Inc. (TMO) and the Focus List deletions are Linde Plc (LIN); Lilly(Eli) & Co (LLY); ASML Holding NV (ASML); EOG Resources, Inc. (EOG).

Stocks rose on Tuesday morning amid more comments on rate hikes from Fed officials and earnings reports from major retailers. Best Buy shares rose 10% after the company posted above-consensus 3Q revenue and EPS, and raised its full-year sales outlook. Dollar Tree shares fell 10%, despite solid 3Q results, as the discount retailer said that 2022 earnings would come in toward the low end of its guidance range. The Dow rose 0.8%, the S&P 0.6%, and the Nasdaq 0.1%. Crude oil rose 2% to $81.50 per barrel, while gold traded near $1745 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks fell again on Tuesday morning on continued interest rate concerns after Fed Chair Jerome Powell's hawkish speech on Friday. However, employment data was positive. In its monthly JOLTS survey, the Labor Department said that U.S. job openings rose to 11.239 million on the last day of July, up from a revised 11.040 million a month earlier and above the Reuters consensus forecast. Consumer confidence also improved after three straight monthly declines. The Conference Board said that its consumer confidence index rose to 103.2 in August from 95.3 in July. The Dow fell 0.8%, the S&P 1.0%, and the Nasdaq 1.1%. Crude oil fell more than 5% to $92 per barrel, while gold traded near $1737 per ounce.

Stocks were higher on Friday morning. The headline PCE figure showed inflation rose less than expected in April, while the core figure met expectations for a 0.3% rise. Meanwhile, personal spending rose more than expected in April at a pace of 0.9%. On the earnings front, Marvell Technology Inc. (MRVL) is up 4.7% after the semiconductor company edged out earnings and revenue estimates while offering in line earnings and revenue guidance for the second quarter. The Dow rose 1.1%, the S&P 1.9%, and the Nasdaq 2.7%. Crude oil rose slightly to $114 per barrel, while gold traded near $1858 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Small- and mid-cap stocks (SMID stocks) have underperformed large-caps over the past 12 months, but still may be in a better position to generate market-beating returns going forward. SMID companies tend to focus on domestic markets, so their businesses could be less disrupted by the fallout from the Russian invasion of Ukraine. As well, the prices of SMID stocks generally are lower than the prices of large-caps. That said, SMID stocks can be risky and large-caps outperformed SMID stocks in 11 of the 19 years in our test period. Still, despite the risks, diversified investors look to have exposure to small- and mid-caps based on the long-term performance record. We estimate that 12%-15% of the U.S. stock market's capitalization is comprised of SMID stocks. For our purposes, we use a threshold of $20 billion to define a SMID stock.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Labor Department's nonfarm payrolls report for March will be released on Friday, April 1. This report is always eagerly awaited by investors, as it provides the first (and most-important) view of the previous month's economic activity. Last month, the report was a positive surprise, as the number of new jobs rose to 678,000 in February, well above the consensus forecast of 450,000. The unemployment rate ticked lower, to 3.8%. Since the February survey was taken, the global economy has been negatively impacted by Russia's invasion of Ukraine. Consumer confidence has suffered. Even so, our March nonfarm payrolls forecast calls for 500,000 new positions to have been created. This is based in part on trends in weekly unemployment claims, which recently touched all-time lows. We also look for the unemployment rate to tick higher toward 4.0%, as more workers re-enter the workforce (the labor force participation rate is still low at 62.2%), in part due to an increase vaccination rates rise. Lastly, we look for wage pressures to continue, and anticipate a 5.5% increase in average hourly earnings, up slightly from 5.3% last month.

With the market focus shifting from inflation to the Russian invasion of Ukraine, stocks finished last week with a surprise two-day rally that included the best stock day of 2022. On Friday, the Dow Jones Industrial Average soared by 835 points, or 2.51%. The S&P 500 rose 2.24%, and the Nasdaq Composite gained 1.64%. For the week, the DJIA was down 20 points, or 0.1%, while the S&P 500 rose 0.82%, and the Nasdaq Composite gained 1.09%. For the year to date, the Dow is down 6.2%; the S&P 500 is off 8.01%; and the Nasdaq Composite remains in correction territory though off its lows, down 12.47%.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Friday wrapped up a difficult week for stocks, particularly for the Nasdaq, which shed an additional 2% after investors concluded that Nvidia's deal to buy ARM Holdings was dead in the water. With a close at 15,085, the Nasdaq is now 6.1% below its all-time high. This growth-oriented index is also below both its 20-day and 50-day simple moving-average support lines; the 50-day is 250 points above Friday's close.

The stock market moved sideways last week before a sharp selloff on Friday put stocks firmly in the red. Blue chips relatively outperformed tech stocks,

Stocks were mixed on Thursday amid continued inflation concerns. The Technology and Materials sectors finished higher while Industrials, Communication Services, and Utilities declined. Disney shares fell sharply following weaker-than-expected 4Q results and disappointing subscriber growth in the Disney+ streaming service. Electric vehicle maker Rivian jumped 22% and has now risen more than 50% since its Wednesday IPO. The Dow fell 0.44%, the S&P rose 0.06%, and the Nasdaq rose 0.52%. Crude oil fell slightly to $81 per barrel, while gold rose $16 to $1865 per ounce.

Stocks were mixed on Thursday amid continued inflation concerns. The Technology and Materials sectors finished higher while Industrials, Communication Services, and Utilities declined. Disney shares fell sharply following weaker-than-expected 4Q results and disappointing subscriber growth in the Disney+ streaming service. Electric vehicle maker Rivian jumped 22% and has now risen more than 50% since its Wednesday IPO. The Dow fell 0.44%, the S&P rose 0.06%, and the Nasdaq rose 0.52%. Crude oil fell slightly to $81 per barrel, while gold rose $16 to $1865 per ounce.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Host Hotels & Resorts Inc (HST); NXP Semiconductors NV (NXPI); Western Digital Corp. (WDC); IQVIA Holdings Inc (IQV); American Electric Power Co Inc (AEP) and the Focus List deletions are Weyerhaeuser Co. (WY); Dell Technologies Inc (DELL); Qorvo Inc (QRVO); Anthem Inc (ANTM).

What happened to the September sell-off? A month ago, the S&P 500 was in the process of falling off all-time highs set early in September. From the ATH of 4,537 on 9/2/21, the "500" fell to the 4,350s on 9/21/21; staged what would be a failed rally to just under 4,450 on 9/24/21; and then made twin lows right around 4,300 on 9/30/21 and 10/4/21.

Stocks rose on Thursday morning on lessening fears concerning the debt ceiling. Lawmakers have reached a deal to extend the debt limit through the beginning of December. The Labor Department reported that initial unemployment claims for the week ended October 2 were 326,000 vs. 348,000 expected and an upwardly revised 364,000 during prior week. Continuing claims for the week ended September 25 were 2.7 million, less than the 2.8 million expected. The Dow rose 1.5%, the S&P 1.5%, and the Nasdaq 1.7%. Crude oil traded near $78 per barrel, while gold traded near $1758 per ounce.

September more than lived up to its fearsome reputation, with a nearly 5% decline for the S&P 500. The Nasdaq suffered a worse decline as growth equities were slammed by rising rates and rekindled inflation fears.

Stocks declined broadly last week, as positive retail sales data and a better-than-expected inflation (CPI) report were unable to offset mounting investor concerns. These concerns include the still-heavy toll from COVID-19, signs of moderating economic growth, and worries on either side that a new tax bill will pass (the GOP) or won't make it through Congress (the Democrats).

Stocks declined broadly last week, as positive retail sales data and a better-than-expected inflation (CPI) report were unable to offset mounting investor concerns. These concerns include the still-heavy toll from COVID-19, signs of moderating economic growth, and worries on either side that a new tax bill will pass (the GOP) or won't make it through Congress (the Democrats).

The Technology sector started slowly in 2021 as investors focused on value stocks. But the sector has come on strong in recent months (up 22% year-to-date) and now is outperforming the market (up 20.7%) as well as value sectors such as Consumer Staples (+8%), Utilities (+10%), Materials (+17%), and Industrials (+18%). The sector is the largest in the U.S. market and now accounts for more than 28% of the S&P 500. Over the long term, we expect the sector to benefit from pervasive digitization across the economy, greater acceptance of transformative technologies, and the development of the Internet of Things (IoT). Healthy company and sector fundamentals are also positive. For individual companies, these include high cash levels, low debt, and broad international business exposure. We have an Over-Weight ranking on the Tech sector and think investors should look to allocate up to 30% of their diversified portfolios to the group. Here is how we use our analysts' Tech sector ideas in our Focus List and Model Portfolios.

The stock market moved higher last week, with Tech stocks outperforming blue chips by a sizeable margin. During Friday's session, the Dow Jones Industrial Average increased 243 points, or 0.69%. The S&P 500 was up 0.88%, and the Nasdaq Composite was up 1.23%. For the week, the DJIA was up 336 points, or 0.96%, the S&P 500 was up 1.52%, and the Nasdaq Composite was up 2.82%. Year-to-date, the DJIA is up 15.84%, the S&P 500 is up 20.06%, and the Nasdaq Composite is up 17.39%.

July ended with a bout of selling, but bulls considered it overdue profit-taking after another successful month. Even with Friday's washout, the S&P 500 rose 2.3% in July. That marked six straight months of appreciation for the blue chip index (only January has been negative in 2021) and was the best market month since April.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Last week featured a Fed meeting in which nothing changed (yet everything changed), and the stock market suffered its worst five days since January. The pain was distributed unevenly, with the DJIA dropping 3.5%, the S&P 500 down 1.91%, and the Nasdaq off only 0.3%.

For the month of May, the S&P 500 managed to eke out a 0.6% gain; the Nasdaq made a nice comeback, cutting its loss to 1.5%; the Nasdaq 100 (QQQ) dropped 1.2%; the S&P 400 rose 0.2%; and the Russell 2000 (IWM) rose 0.3%. Once again, action was seen in all 11 S&P sectors as well as in individual names.