PEZ - Stocks Hit By Fed Taper Prospects China: What Moved Markets This Week (Video)

Stocks gave up some ground this week as prospects of Fed tapering bond purchases and continued intervention by Chinese regulators hurt risk appetite. Friday saw a broad-based rally in stocks, but for the week major indices were all lower. At the time of this writing (3:30pm EDT on Friday) the Nasdaq (COMP.IND) had seen the worst of the damage, down 1.5% week-over-week. Dow Industrials (DJI) are off about 1.2% with the S&P 500 (SP500) about 0.7% lower. Winners & Losers Defensive sectors rallied. The Health Care Select Sect SPDR ETF (XLV) is up 1.9% this week, the Utilities Select Sector SPDR ETF (XLU) has gained 1.3% whilst the Consumer Staples Select Sector SPDR ETF (XLP) is 1% higher. Earnings drove winners and some retailers benefited. Macy's (M) smashed expectations and boosted capital allocations plans, much to the surprise of the host of this video. Shares of Macy's are up 12%

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Stocks Hit By Fed Taper Prospects, China: What Moved Markets This Week (Video)