U.S. stocks closed out a volatile trading week with gains among cyclical sectors and losses in technology shares as a healing economy and surge in government-bond yields led investors to reassess their positioning.
The S&P 500 ended the week with modest gains, as advances by the energy, financial and industrial sectors weighed against declines in the technology and consumer discretionary groups. The tech-heavy Nasdaq Composite, meanwhile, finished the week with a decline of about 2.1%—its third consecutive week losing ground.
The Dow Jones Industrial Average, which is less oriented toward fast-growing technology stocks, enjoyed the largest weekly gain of the major indexes, about 1.8%. “This last week has been a classic correction in growth versus value,” said Tom Plumb, president and portfolio manager at Plumb Funds. “But it doesn’t mean that it portends something much greater.”has called into question whether low interest rates, which propelled valuations higher for much of the past year, will continue.
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The Covid Relief Bill Stimulus Checks will help the S&P Consumer Discretionaries but Tech will lag as the Nasdaq will be hit as weather opens up Hospitality and Leisure.
More people on unemployment? But stocks are up I can breathe easy now knowing the WEALTHY sector of our country is doing better. Hopefully the SENATE will pass a bill going them a LARGER TAX BREAK for opening up FOOD BANKS. It would ease the hunger situation.
How much confidence do you have in the integrity of the US jobs report? So far the USA has shown itself the equal of China, when it comes to lies, damn lies, and statistics, associated with Government.
It’s going down... I’m yelling timber...
The coming of the Messiah that was promised in the bible is now nearer than you ever thought. GrandFridayVigil