Energy ( XLE ) is now in its fourth week of leading the sectors list. It didn't look that way at the beginning of the week when it sold off off sharply amongst disagreements between OPEC members on future oil production. It rose back to the lead as those talks began getting better on Wednesday and OPEC finally had agreement on Friday.
Technology ( XLK ) and Health Services ( XLV ) nearly tied for second. They shared the lead on Tuesday. Health Services had a huge boost after the UK announced approval of the Pfizer vaccine. Both Health Services and Technology didn't move much after the progress on Tuesday, but it was enough to keep them in position for a solid tie 2nd place ending.
Communications ( XLC ) led for two days, before being overtaken by the top three and ending the week in fourth place.
Utilities ( XLU ) was the loser of the week. The defensive play wasn't needed by investors who seemed optimistic about vaccines, stimulus talks and oil agreements. That was enough optimism to ignore the unemployment data signaling trouble for the economy.
Technology ( XLK ) and Health Services ( XLV ) nearly tied for second. They shared the lead on Tuesday. Health Services had a huge boost after the UK announced approval of the Pfizer vaccine. Both Health Services and Technology didn't move much after the progress on Tuesday, but it was enough to keep them in position for a solid tie 2nd place ending.
Communications ( XLC ) led for two days, before being overtaken by the top three and ending the week in fourth place.
Utilities ( XLU ) was the loser of the week. The defensive play wasn't needed by investors who seemed optimistic about vaccines, stimulus talks and oil agreements. That was enough optimism to ignore the unemployment data signaling trouble for the economy.
