Reply To: Traders Market Weekly: Markets Await Big Bankers Earnings


The late-day slide took all 11 S&P 500 sectors into negative territory on a closing basis. The information technology (-2.6%), consumer discretionary (-1.9%), and communication services (-1.7%) sectors, which are home to the mega-caps, were influential drags on the market.

The energy sector (-3.1%) was the weakest performer, though, as oil prices dropped below $95.00 per barrel ($94.16/bbl, -4.02, -4.1%), which was attributed to demand/growth concerns resulting from the COVID lockdowns in Shanghai.

The industrials (-0.3%), materials (-0.5%), financials (-0.5%), and consumer staples (-0.5%) sectors outperformed on a relative basis with modest declines.