After trading within a high/low range of less than 1% over the last three weeks, the S&P 500 finally broke higher again today due to a nonfarm payrolls print this morning that was much better than expected. As you can see in our asset class performance matrix below, US equities were led higher by Technology (XLK) and Financial (XLF) stocks this week. Telecom and Utilities — two very defensive sectors — lagged behind. Treasury ETFs had a rough week as well as interest rates begin to tick higher.
We analyze today’s jump for stocks following a much stronger-than-expected jobs number in this week’s Bespoke Report newsletter. We also pack a ton of additional analysis into this week’s 30+ page report. You can read the entire thing by starting a 14-day free trial to our paid content below.
Have a great weekend!