Utilities (XLU) is surprisingly the top sector for the day. Topping the list on Tuesday and nearing the top of the list on Friday the sector had steady gains throughout the week. The sector is usually a defensive move for investors. Perhaps investors nervousness grew as the S&P 500 has been setting new all-time highs.
Less of a surprise is to see Materials (XLB) at the top of the weekly list. The sector is benefiting not only from investments on infrastructure being discussed in Washington, but also a strong housing sector and a surge in building permits.
Energy (XLE) had a choppy week, taking the lead on Wednesday, but quickly fading to near the bottom of the list for the weekly.
Consumer Discretionary (XLY) also had some good days this week, advancing on news of strong retail sales and an advance in consumer credit showing increased spending.
The worst performing sector this week was Communications (XLC). There have been some reports of decelerating spending on Internet media and social platforms from retailers. That makes sense as demand is naturally increasing and requires less effort for omnichannel marketing to bring in consumers.
Less of a surprise is to see Materials (XLB) at the top of the weekly list. The sector is benefiting not only from investments on infrastructure being discussed in Washington, but also a strong housing sector and a surge in building permits.
Energy (XLE) had a choppy week, taking the lead on Wednesday, but quickly fading to near the bottom of the list for the weekly.
Consumer Discretionary (XLY) also had some good days this week, advancing on news of strong retail sales and an advance in consumer credit showing increased spending.
The worst performing sector this week was Communications (XLC). There have been some reports of decelerating spending on Internet media and social platforms from retailers. That makes sense as demand is naturally increasing and requires less effort for omnichannel marketing to bring in consumers.
