S&P 500 posts weekly loss while defensive sectors outperform
Complete. Here is the key summaryThe S&P 500 posted a weekly loss of 0.61%, with defensive sectors like Energy (+3.31%) and Utilities (+2.46%) outperforming while Consumer Discretionary (-5.24%) lagged. Analysts attribute this rotation to high oil prices, rising tech capex concerns, and market selectivity ahead of key earnings from Microsoft, Meta, and Amazon.
Wall Street's major averages aimed to go higher on Friday but closed mixed as oil prices declined. The benchmark S&P 500 (SP500) edged up 0.1%, and the Dow rose 0.5%, while the Nasdaq Composite declined 0.6%. The S&P 500 also was down 0.61% for the week. From a sector-level perspective, seven S&P sectors ended the week in positive territory, and th...