Market overview 2023-04-05

Another quiet day of the Easter trading week led to a mixed closing in the major stock indices. While the broad S&P500 and Nasdaq indices showed weakness, falling within 1.2 percent, the Dow Jones blue-chip index was able to show relative strength, rising about a quarter of a percent. The broad market is more crowded with small market participants who are nervous about holding positions over the long weekend and prefer to reduce risk after their previous gains, unlike blue-chip holders, who tend to be large institutional players working for the long haul. Energy, Health Care, and Utilities were the sectors that stood out, managing to post strong gains. The Technology sector was the clear outsider.