S&P, Nasdaq end down for week amid stimulus-constrained trading
- Stocks rallied to finish Friday higher, but were down for the week
with earnings unable to shake the market out of its habit of jumping and
dropping on stimulus headlines.
- The S&P (SP500) closed up 0.4%, but down about 0.6% for the week. The
Nasdaq (COMP) ended up 0.4%, but off a little more than 1% during the
week. Both snapped a three-week winning streak.
- The broader market found itself in a fairly tight range through week
of trading. Mixed quarterly results couldn't help build traction, leaving
sentiment vulnerable to positive and negative stimulus negotiations
headlines.
- Amid all that talk, though, there's no tangible progress in a relief
bill. Larry Kudlow probably gave the most transparency when he said the
ball isn't moving much.
- For the day 9 of 111 of the S&P sectors closed higher.
- Communications Services (NYSEARCA:XLC) posted the best gains, helped
by megacaps Facebook and Google. Add in Twitter's rise to a 52-week high
above $50/share, levels not seen since 2015, and XLC led sectors for the
week, up 2.2%.
- Energy (NYSEARCA:XLE) was Friday's weakest sector in a volatile week,
but it did manage a slight five-session gain.
- Technology (NYSEARCA:XLK) was the worst performer for the week, off
2.3% with Intel's post-earnings tumble hitting it today.
- Financials (NYSEARCA:XLF) rose more than 1% on the week as a rise in
the yield curve buoyed the banks. The 10-year Treasury yield finished
well
north of 0.8%.
|Today, 4:02 PM|6 Comments
- Stocks rallied to finish Friday higher, but were down for the week
with earnings unable to shake the market out of its habit of jumping and
dropping on stimulus headlines.
- The S&P (SP500) closed up 0.4%, but down about 0.6% for the week. The
Nasdaq (COMP) ended up 0.4%, but off a little more than 1% during the
week. Both snapped a three-week winning streak.
- The broader market found itself in a fairly tight range through week
of trading. Mixed quarterly results couldn't help build traction, leaving
sentiment vulnerable to positive and negative stimulus negotiations
headlines.
- Amid all that talk, though, there's no tangible progress in a relief
bill. Larry Kudlow probably gave the most transparency when he said the
ball isn't moving much.
- For the day 9 of 111 of the S&P sectors closed higher.
- Communications Services (NYSEARCA:XLC) posted the best gains, helped
by megacaps Facebook and Google. Add in Twitter's rise to a 52-week high
above $50/share, levels not seen since 2015, and XLC led sectors for the
week, up 2.2%.
- Energy (NYSEARCA:XLE) was Friday's weakest sector in a volatile week,
but it did manage a slight five-session gain.
- Technology (NYSEARCA:XLK) was the worst performer for the week, off
2.3% with Intel's post-earnings tumble hitting it today.
- Financials (NYSEARCA:XLF) rose more than 1% on the week as a rise in
the yield curve buoyed the banks. The 10-year Treasury yield finished
well
north of 0.8%.
|Today, 4:02 PM|6 Comments
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