Technology ( XLK ) finished the week in second place, also with the mega-caps, Apple ( AAPL ) and Microsoft ( MSFT ) contributing the most to the gains.
Financials ( XLF ) continued to underperform as more financial institutions reported and disappointed investors.
Energy ( XLE ) was the worst performing sector of the week. There is probably some influence from the new administration policies. However, the more immediate impact was from surprise surplus in oil supplies, signaling much lower demand for oil than anticipated.
The only significant during the week were on Wednesday, January 20th which was inauguration day. That day saw a spike in Communications, Technology and Real Estate ( XLRE ).
The for Communications and Technology were likely reinvestment into mega-caps that didn't seem to be in the crosshairs of any new policies, alleviating some fears of policies that would hurt big tech.
The Real Estate was driven by the additional assistance for renters proposed in the new stimulus package. The stimulus approved in December only covered the estimated amount of back rent owed, but the new stimulus package would extend rental assistance into the future.