ROBARE & JONES ON THE MARKETS
The S&P 500 was down 1.67% from last Friday with five consecutive losses, this was the worst week for the S&P 500 since February (it's fair to say we've been pretty spoiled this year)!
All sectors of the S&P ended the week in the red with the real estate sector taking the brunt of this week's selling pressure, down nearly 4% from last Friday's close. Healthcare followed up, being the second worst sector this past week surprisingly.
Investors eagerly scooped up $120 billion in 3-Year notes, 10-Year notes, and 30-Year bonds, driving Treasury yields lower, and dampening demand for financial stocks amid declining lending rates.
Investors hope for a better week ahead, but this upcoming week won't have any material data released other than consumer price index (CPI) numbers to be released today.
Let's take a look at the markets from this past week!
Stay safe and take care!