Several sectors rallied into the lead throughout the week, but Financials (XLF) came from behind to end the week as the top sector. On Friday, the sector added 2% on top of gains earlier in the week. The rally came as employment data was better than expected, sending Treasury yields higher and brightening the prospects for big bank performance tied to the yields.
Utilities (XLU) enjoyed the top spot on Monday and early Tuesday, rallied again on Thursday, but fell to second place on Friday. The defensive sector shows investors were cautious throughout the week as indexes set new records amidst worries the rising Delta variant might pull back the economic recovery.
Health Services (XLV) took the lead spot on Wednesday, likely on the view that there will be an increased demand for vaccines and therapies that can handle the resurgence of the pandemic.
Consumer Staples (XLP) was the only sector to decline this week, putting it at the bottom of the sector list.
Utilities (XLU) enjoyed the top spot on Monday and early Tuesday, rallied again on Thursday, but fell to second place on Friday. The defensive sector shows investors were cautious throughout the week as indexes set new records amidst worries the rising Delta variant might pull back the economic recovery.
Health Services (XLV) took the lead spot on Wednesday, likely on the view that there will be an increased demand for vaccines and therapies that can handle the resurgence of the pandemic.
Consumer Staples (XLP) was the only sector to decline this week, putting it at the bottom of the sector list.
