Weekly Performance Summary

The S&P500 was up 0.85% for the week, upbeat results from financial firms, and airlines, along with a profitable quarter for Netflix, were a few of the drivers of positive performance in the index. Utilities sector bounced back after being the worst performer last week, gaining 3.4%. Dominion Energy (+6.6%) and Duke Energy (+5.8%) performed the

The forward direction of rates will likely have a big impact on leadership.  We’d expect a mix of defense (on inflationary recession fears) and Value (on inflationary growth scenarios) to outperform with rates rising.  We’d expect Growth factor exposures to outperform if rates end the year on a 3-handle.

COMMENTARY: The S&P500 was up 1.11% for the week, as the “bulls” remained in control from both strong consumer confidence and gains in the Tech Sector’s optimism for AI-related stocks. Utilities sector fell the most this week, down 2.5%. After a strong run, investors may have sought profit-taking, driving the performance down. Vistra Corp (-9.5%)

Equity trend remains bullish, but leadership is clear as mud. We are positioned for resolution in favor of Growth.

Crude and Commodities Prices are in Focus this week.