???#WEEKLYMARKETUPDATE??? The #stockmarket followed last week's surge with some consolidation activity. ? The S&P 500 hit another #recordhigh last Monday, and closed above 6,000 for the first time, but settled 2.1% lower last week. The index is still 1.5% higher since the election results. ? The equal‐weighted S&P 500 closed 1.7% lower than last Friday. Only two S&P 500 sectors closed higher last week while eight sectors logged losses ranging from 1.1% to 5.5%. ? The #energy (+0.6%) and #financial (+1.4%) sectors were the lone standouts in positive territory while the #healthcare sector (‐5.5%) registered the largest loss, followed by the information #technologysector (-3.2%). ? #Healthcare related stocks struggled through the week, but exhibited noticeable weakness on Friday after the news that President‐elect Trump nominated #RobertFKennedy, Jr., known as a vaccine skeptic, to lead the #DepartmentofHealthandHumanServices. ? #Chipmakers were also struggling through the week, and also exhibited noticeable weakness on Friday after fiscal Q1 guidance from #AppliedMaterials (#AMAT), a leading chip equipment maker, failed to meet the market's more optimistic expectations. ? The 10-yr yield, which briefly reached 4.50%, settled 12 basis points higher than last Friday at 4.43%. The 2‐yr yield settled five basis points higher than last Friday at 4.30%. ? Total #CPI was up 2.6% year-over-year, versus 2.4% in September, and #coreCPI up 3.3% year-over-year, unchanged from September. Total #PPI was up 2.4% year-over-year, versus 1.9% in September, and the index for final demand, less food and energy, was up 3.1% year-over-year, versus 3.0% in September. ? ???Nasdaq Composite: -3.2% for the week / +24.4% YTD ???S&P 500: -2.1% for the week / +23.1% YTD ???S&P Midcap 400: -2.7% for the week / +15.3% YTD ???Russell 2000: -4.0% for the week / +13.7% YTD ???Dow Jones Industrial Average: -1.2% for the week / +15.3% YTD ? Read it here:?https://lnkd.in/e4TZR92x
