It was a mix of defensive sectors and growth stocks at the top of the sector list this week, while the cyclical sectors took a step back.
Real Estate (XLRE) led the sector list, continuing to gain on a solid housing market, higher rents, as well as a defense against potential inflation.
Health Care (XLV) also rallied this week, ending the week in second place on the sector list. Eli Lilly (LLY) helped boost the sector with news that the FDA may approve a new Alzheimer's therapy. The stock and the sector faded late in the week on the controversy over statements made by the company.
Technology (XLK) and Consumer Discretionary (XLY) were third and fourth on the list, with steady increases throughout the week as investors became more confident in the growth trade.
The cyclical stocks fell this past week. Financials (XLF) suffered from lower treasury yields, potentially impacting interest rates that drive revenue for the sector. Industrials (XLI) and Materials (XLB) declined as more of congress pushes back on Biden's infrastructure spending proposals.
Real Estate (XLRE) led the sector list, continuing to gain on a solid housing market, higher rents, as well as a defense against potential inflation.
Health Care (XLV) also rallied this week, ending the week in second place on the sector list. Eli Lilly (LLY) helped boost the sector with news that the FDA may approve a new Alzheimer's therapy. The stock and the sector faded late in the week on the controversy over statements made by the company.
Technology (XLK) and Consumer Discretionary (XLY) were third and fourth on the list, with steady increases throughout the week as investors became more confident in the growth trade.
The cyclical stocks fell this past week. Financials (XLF) suffered from lower treasury yields, potentially impacting interest rates that drive revenue for the sector. Industrials (XLI) and Materials (XLB) declined as more of congress pushes back on Biden's infrastructure spending proposals.
