Since the market closed on 9/18 after the Fed cut rates 50 basis points, the three sectors that needed a boost the most are the only ones that have declined. Financials, Consumer Discretionary and Industrials are down while the S&P 500 is up 1.11%. Technology is up the most with an 8% gain, followed by Materials (5.2%) and Utilities (4.8%).
So which stocks have performed the best and which have declined since the Fed met? Below we highlight the 25 best and worst performing stocks in the Russell 1,000 since 9/18. As shown, key tech names like Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) are on the list of gainers, along with Intuitive Surgical (NASDAQ:ISRG), VMware (NYSE:VMW), SunPower (NASDAQ:SPWR), First Solar (NASDAQ:FSLR), NYSE-Euronext (NYSE:NYX) and Crocs (NASDAQ:CROX). Wellcare (NYSE:WCG) leads the list on the downside due to legal troubles, but most of the names on the worst performing list are Financials. While many have been expecting and hoping for more rate cuts ever since the last meeting, the performance of stocks that should benefit from easing suggests that another round still won't be enough.