Weekly Market Stats: Week Ending May 2, 2008
The equity markets closed the week with their first 3-week winning streak since October 2007. The Dow and the S&P 500 held onto their big gains from yesterday to remain above 13000 and 1400. The Dow is now only off 1.5% YTD.
Telecom led the S&P 500 sectors for the week, up 4.8%. CenturyTel led the sector, up 12% for the week. Materials and Energy which lead the sectors for the year fell this week. Sealed Air fell ~13% for Materials and Sunoco in the Energy Sector was down 9% for the week.
For commodities, Rough Rice tumbled 13.4% for the weak while Oats led the grains up 8.4%. After setting record levels at the start of the week, Oil has pulled back a bit to end the week down 1.86%
The Dollar gained against European currencies on actions from the Fed and expectations that the ECB would cut rates.