Stock, sector indices continue to climb towards a winning week of the closing bell
The major stock indices wrapped up a winning week as they head toward a positive month.
JARED BLIKRE: We are only minutes away from the closing bell. Let's break down the market action. As you can see, a lot of green on the screen, and let's see what's happened for the week. The Dow up just barely on the day but up 1 and 3/4 of a percent for the week. The NASDAQ also adding onto gains, up over 4%. So I think traders and fledgling bulls will definitely take that.
Now let's take a look at the sector action. Today it's consumer discretionary. That's XLY why in the upper left. That is in control. Energy taking the biggest hit to the downside. We were just talking about Chevron there.
Let's check out what's happened over the week. Now, this is over five days. XLE, consumer discretionary, followed by communication services and tech, the mega-cap sectors there, those are in control here. Real estate, financials also outperforming the S&P 500. Only health care and utilities down for the week. Staples also pulling in the rear. So kind of a defensive-- the defensive sectors lagging is what you want to see in this environment.
Now also checking out our leaders, ARKK up 10% today alone-- this week alone. Meme stocks also feeling some love. IPOs in the mix. Retail, internet, chip stocks, gambling, software, all of those outperforming. So healthy mix right there.
And if we put it on the NASDAQ 100, you're going to see-- guess what-- not one red speck for the prior five days. Apple up almost 6%. That's going to be reporting next week. We got that covered for you along with Amazon. Nvidia is up 14% and Tesla up 33%, having its best week. This is over the last five days only. 33%, haven't seen that since 2013. And, in fact, back-to-back 10% plus days, haven't seen that in a while as well.
So some pretty unusual but positive market action for the week.