One would think that tech would be the big winner for stocks the month as they bounce from an oversold position in May where all sectors fell. But one sector that fell the most in recent times is the material sector and that is the one doing the best in June. It is up over 9%.
We are talking about companies that make metals tied to making steel and aluminum and products from them. These companies were adversely affected by the Chinese and threatened Mexican tariffs so they were crushed in May. Now with the apparent hostilities with Mexico being over they are running up.
It is common for one sector, after being down for a long period, to at some point lead the way up but it does not necessarily mean a bull market for all the sectors.