The S&P 500 (SP500) on Friday closed 0.69% the lowest for the week, with the benchmark index falling in three of five quarters, as investors remained cautious after hawkish comments from Federal Reserve spokesmen.
This followed a popular meeting last week supported by cooler-than-expected inflation data.
The leader of St. Louis Fed’s James Bullard said that more trips are needed to go to fully restricted groups, while the president of the Minneapolis Fed, Neel Kashkari, said that it is an “open question” about how rates will rise.
In economic data, existing sales and leading indicators fell more than expected, while housing starts came in above expectations. Oct. The PPI came in flat and the core PPI was unchanged, indicating lower inflation. Weekly jobless claims were in line with estimates and retail sales were stronger than expected. Meanwhile, industrial production fell unexpectedly.
Crypto markets continued to fall from the fall of FTX, while bitcoin (BTC-USD) is on track to post a weekly loss of 2%.
SPDR S&P 500 Trust ETFNYSEARCA: SPY) Friday fell 0.62% for one week with the benchmark index. ETFs are -17.1% YTD.
Three of the 11 sectors of the S&P 500 (SP500) ended the week in the green, with Consumer Staples and Health Care the biggest gainers. The Consumer Discretionary and Energy sectors were the biggest losers. See below for a summary of the weekly sector performance and performance of the SPDR Select Sector ETFs since Nov. 11 near Nov. 18 nearby:
#1: Consumer Values + 1.69 percentand the Consumer Staples Select Sector SPDR ETF (XLP) +1.58%.
#2: Health +0.99%and the Health Care Select Sector SPDR ETF (XLV) +1.08%.
#3: Resources +0.83%and Utilities Select Sector SPDR ETF (XLU) + 1.13%.
#4: Connection Services -0.08%and Communication Services Select Sector SPDR Fund (XLC) -0.98%.
#5: Industry -0.23%and Industrial Select Sector SPDR ETF (XLI) -0.09%.
#6: Technology -0.85%and Technology Select Sector SPDR ETF (XLK) -0.79%.
#7: Finances -1.45%and Financial Select Sector SPDR ETF (XLF) -1.39%.
#8: Equipment -1.61%and Materials Select Sector SPDR ETF (XLB) -1.55%.
#9: Land and Housing -1.83%and Real Estate Select Sector SPDR ETF (XLRE) -1.78%.
#10: Strength -2.35%and Energy Select Sector SPDR ETF (XLE) -1.61%.
#11: Consumer Discretionary -3.15%and the Consumer Discretionary Select Sector SPDR ETF (XLY) -2.83%.
Below is a chart of the YTD performance of the 11 sectors and how they performed against the S&P 500. For investors looking for future trends, check out the Seeking Alpha Catalyst Watch for next week’s breakdown of potential trends. .