NEW YORK (April 29): Economically sensitive areas of the US stock market are flashing warnings over growth, even as major equity indices edge higher. Beneath the surface, however, areas of the market tied to economic sentiment such as transports, semiconductors and small-cap stocks dropped in April, while so-called defensive sectors are outperforming. “People are starting to more defensively position themselves,” said Aaron Dunn, a co-head of the value equity team at Eaton Vance. At the same time, consumer staples and healthcare sectors favoured by investors during uncertain times have rallied in the past month. "They are talking about demand being down, and they are ridiculously important shipping companies,” said Matt Maley, the chief market strategist of Miller Tabak.

Source: The Edge Markets April 29, 2023 08:04 UTC