URBN - Smallcaps Tech Fail To Ride Risk-On Wave

Stocks struggled for direction this week as the dearth of earnings news and economics releases left investors with no clear narrative to grab hold of. Covid concerns weighed on risk assets at the start of the week and bonds actually rallied for a change. That reversed toward the end of the week. Small caps and tech stocks failed to catch this updraft however. As of 2pm on Friday afternoon large caps were looking at weekly gains, with the Dow Industrials (DJI) and S&P 500 (SP500) both up about 0.5%. The Nasdaq (COMP) declined by about 2% to drop back below 13,000. Small caps performed worst, with the Russell 2000 giving up 4.5%. Indeed the Russell had its biggest loss in almost a month to fall below its 50-day moving average on Wednesday. Winners & Losers The Suez Canal blockage helped energy names and tankers: Shares of Nordic American Tankers (NAT),

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Smallcaps, Tech Fail To Ride Risk-On Wave