- Major U.S. equity indices ended mostly higher as the S&P 500 Index reached its highest level since February 10th despite the ongoing developments in the Russia-Ukraine war and hawkish comments made by Federal Reserve Chair Jerome Powell last Monday.
- Large-cap stocks easily beat small-caps last week, and value mostly led growth as seen in the performance matrix above. Year-to-date the large-cap value segment eked into positive territory, albeit slightly.
- Within the S&P 500 Index, all sectors aside from health care increased led by energy, materials, and utilities given the continued rise in broad commodity prices. Apple and Tesla rose by 6.5% and 11.6% respectively last week in the land of mega-cap names. Tesla’s stock price rose for eight consecutive days through Thursday although fell back Friday. The run put the company’s market cap above $1 trillion again.
- According to Bloomberg, the S&P 500 had gained one-third of one percent in the last hour of trading for five consecutive days, which is the longest streak in two decades.
