XLV - Stocks Notch 4th Week Of Gains - Tech Falters As Yields Rise; Gold Steady At $2000: Friday's Market Recap | Benzinga
U.S. stocks marked their fourth consecutive week of gains, the longest winning streak since June, in a week marked by thinner trading volumes due to the Thanksgiving and Black Friday holidays.
Small-cap stocks outperformed, while tech stocks lagged behind as U.S. Treasury yields surged following better-than-expected services PMI data in November.
Both the 10-year and 30-year Treasury bond yields increased by 7 basis points, resulting in a 1.1% decline in the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT).
The remaining sectors of the S&P 500 saw little movement, with energy and materials slightly outperforming by the end of the session.
Elsewhere, gold held above the psychological $2,000/oz threshold, signaling renewed optimism among investors.
Wednesday’s US Index Performance
Index Performance (+/-) Value
Nasdaq 100 -0.12% 15,982.00
S&P 500 Index +0.06% 4,559.33
Dow Industrials +0.33% 35,390.16
Russell 2000 +0.67% 1,807.50