Global Statistics

All countries
369,185,879
Confirmed
Updated on January 28, 2022 9:54 pm
All countries
289,437,145
Recovered
Updated on January 28, 2022 9:54 pm
All countries
5,663,588
Deaths
Updated on January 28, 2022 9:54 pm

Global Statistics

All countries
369,185,879
Confirmed
Updated on January 28, 2022 9:54 pm
All countries
289,437,145
Recovered
Updated on January 28, 2022 9:54 pm
All countries
5,663,588
Deaths
Updated on January 28, 2022 9:54 pm

Banks and old-school techs come roaring back

Financials and old-school techs are back in favor this week. The higher rates we have seen could be a help to banks:

This week
BofA 6%
JPMorgan 5%
Morgan Stanley 5%
Wells Fargo 3%

But watching old school techs move up this week has been interesting:

This week

SanDisk 10%
Applied Materials 7%
Microsoft 7%
Seagate Technology 5%

I noted yesterday that old school tech was more "growthy," so they get a higher multiple in a rising rate environment, which is usually equated with growth.

(Read more: 'Old school' tech stocks rally: What's up?)

It has also been a huge weak for the semis…the Semiconductor Index up 4.5 percent and has broke to its highest level since 2002.

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