VOD - Communications stocks rally for week even as Snap suffers

Communications stocks rallied for the week, lifted in the end by a broader stock market that pulled off its first winning week in almost two months - but the sector trailed the larger technology market, as a midweek wound to Internet stocks hung around. The Communication Services Select Sector SPDR Fund (XLC) rose 3.8% for the period, which would look strong if it weren't for an S&P 500 that marked its best week since November 2020, gaining about 6.6%. On a week where you'd be hard pressed to find a large-cap Communications stock that declined - only six of those names ended up worse off than a week ago - the clear outlier was Snap (NYSE:SNAP), which tanked on Tuesday (and seemed to take the rest of the stock market with it) after Monday evening's warning that deteriorating macro conditions meant it would miss guidance for the second quarter. The

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Communications stocks rally for week, even as Snap suffers