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Investment Insights

Summit Snapshot: Week of 3.7.2022

March 7, 2022
  • U.S. stocks suffered additional losses last week as investors continued to price in the developments in Ukraine and the potential economic implications of the conflict.
  • Within the S&P 500 Index, growth-oriented sectors including technology, consumer discretionary, and communication services were among the bottom performers.
  • The energy sector was the top performer, rising nearly 10% last week, contributing to a ~36% so far this year. More defensive sectors, including utilities and consumer staples, also performed well reflecting the flight-to-safety market sentiment.
  • Growth stocks meaningfully lagged value equivalents for both the week and year-to-date. This is in stark contrast to the performance of these segments of the market over the past several years.
  • The Cboe Volatility Index or VIX reached its highest point so far this year last week, although volumes have so far been lower than during prior periods of significant market volatility.
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Summit Financial, LLC, an SEC registered investment advisor firm, established in November 2018 is a wholly owned subsidiary of Summit Financial Holdings and is the successor firm of all the legacy investment advisory and financial planning business of Summit Equities, Inc. (registered with the SEC in 1991) and Summit Financial Resources, Inc. (registered with the SEC in 1983)