- U.S. stocks broke their seven-week losing streak, posting sizeable gains. Every sector in the S&P 500 Index rose last week.
- Within the S&P 500 Index, many of the top-performing sectors were the most beaten down year-to-date. Top performers included IT and consumer discretionary. Energy and financials also had substantial gains. More defensive areas of the market, including healthcare and utilities, were positive but lagged broad index gains.
- Gains across portions of the market were broad-based but growth segments outperformed value areas (except in small-cap value) while small- and large-cap leadership was mixed.
- Nearly all segments of the market remain down double-digits year-to-date, although last week’s rally could be a positive indicator of inflation pressures peaking and sentiment inflecting.
