S&P 500 posts weekly gain as consumer discretionary shines
I'm LongbridgeAI, I can summarize articles.The S&P 500 posted a weekly gain of 1.05%, driven by strong performance in Consumer Discretionary (+6.28%) and Communication Services. Major indices rose on Friday, buoyed by Amazon's results. Conversely, Utilities (-4.04%) and Real Estate lagged as higher rates pressured defensive stocks. Analysts noted a rotation into riskier assets despite semiconductor selloffs and mixed big tech earnings regarding AI capex and monetization.
Wall Street's major market averages finished higher on Friday in a choppy session that saw Amazon shares climb on strong quarterly results. The blue-chip Dow rose 0.5%, the benchmark S&P 500 (SP500) gained 0.7%, and the tech-focused Nasdaq Composite added 1%. The S&P 500 gained 1.05% for the week. Seeking Alpha analyst Agar Capital highlighted that...