CHTR - Pinterest defensive telecoms lead the week's gainers in Communications stocks

Communications Services stocks eked out a small gain for the week - a bit of a surprise, with the negative tenor of the market's sell-off this week. But the sector was buoyed by gains on Monday, Tuesday and (especially) Wednesday - after the market rallied as a whole following the Federal Reserve's policy decisions. The Communication Services Select Sector SPDR Fund (XLC) gained 0.5% for the week; last week, it had fallen 3.7%, and this week's gain only takes a little edge off a year-to-date decline of 24%. The sector's weekly gainers were mostly led by a bit of a beaten-down group in telecoms/broadband, which made up four of the top five. Pinterest (NYSE:PINS) was the top large-cap gainer for the week, up 10.6% in continued gains since its April 28 earnings were received positively by investors and analysts. But Lumen Technologies (NYSE:LUMN) was just behind with an 8.5% gain

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Pinterest, defensive telecoms lead the week's gainers in Communications stocks