The Dow and S&P 500 both posted their largest weekly gains of the year, at 3.6% and 3.7% respectively, as traders grew more expectant of further action by central bankers. Although China acted by cutting rates by 25 basis points, the Fed and ECB took no concrete steps to stimulate the economy.
This weekend will be filled with news: China is expected to release data on industrial production and retail sales and Spain may formally ask for a bailout during an EU conference call Saturday.
Anxiety about global politics has showed up in the options markets, said Wasif Latif, VP of equity investments at USAA. Next week, traders may continue adding hedges ahead of Greek elections on Sunday, June 17.
“Since last Friday you have seen uptick in demand for protection — puts or other options. That continued this week,” Latif said.
Below, check out how the major sectors in the S&P 500 moved last week, courtesy of S&P Capital IQ.
| �Sector | % Change |
|---|---|
| Energy | 3.92% |
| Materials | 4.39% |
| Industrials | 3.30% |
| Consumer Discretionary | 3.94% |
| Consumer Staples | 2.57% |
| Health Care | 3.04% |
| Financials | 4.71% |
| Information Technology | 4.28% |
| Telecommunication Services | 2.75% |
| Utilities | 3.06% |
| S&P 500 | 3.73% |
A table of top 10 and bottom 10 stocks for the week that we initially posted included incorrect data and has been removed.
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