Reply To: Traders Market Weekly: Inflation and Bank Earnings

#50824
TradersCom
Keymaster

Ten of the 11 S&P 500 sectors closed in the red.

The real estate (-2.9%) and utilities (-2.2%) the worst while energy (+2.0%) was alone in positive territory.

Separately, the mega cap stocks also traded weakly, applying some added pressure on the major indices. Amazon.com (AMZN 83.12, -2.02, -2.4%) was a notable drag in that respect, weighing on the consumer discretionary sector (-1.0%), after announcing plans to cut ~18,000 positions.

Dow Jones Industrial Average: -0.8% YTD
S&P Midcap 400: flat YTD
S&P 500: -0.8% YTD
Russell 2000: -0.5% YTD
Nasdaq Composite: -1.5% YTD