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S&P 500 ends week 0.7% lower as Fed hawks weigh


The S&P 500 Index (SP500) on Friday is closed 0.69% lower for the week, with the benchmark index ending lower in three of the five sessions, as investors remained wary following belligerent comments from Federal Reserve speakers.

This follows a Notable rally last week supported by lower-than-expected inflation data.

President of St. Louis Fed James Bullard said need to increase to get to a sufficiently restrictive level, while Minneapolis Fed President Neel Kashkari said is an “open question” how interest rates will be increased.

In terms of economic data, Existing home sales and leading index fell more than expected, while housing begins came above expectations. October PPI come in the apartment and core PPI remained unchanged, indicating that overall prices have adjusted. Weekly jobless claims are consistent with the estimate and retail sales were stronger than expected. Meanwhile, industrial production sudden slip.

Crypto markets continue to reel after the crash of FTX, with bitcoin (BTC-USD) is on the way to posting lose more than 2% weekly.

SPDR S&P 500 Trust ETF (NYSEARCA:spy) on Friday fell 0.62% week with the benchmark index. ETFs are -17.1% YTD.

Three of the 11 S&P 500 (SP500) ended the week in the green, with Consumer Essentials and Healthcare the top gainers. The consumer discretionary and energy sectors were the top losers. See the breakdown below for the weekly performance of the sectors as well as the performance of the associated SPDR Select Sector ETFs from November 11 to near November 18.

#1: Consumer staples +1.69%and the Consumer Staples Select Sector SPDR ETF (XLP) +1.58%.

#2: Take care of your health +0.99%and the Healthcare Sector SPDR ETF (XLV) +1.08%.

#3: Utilities +0.83%and the SPDR Utilities Sector Selection ETF (XLU) +1.13%.

#4: Communication Services -0.08%and the SPDR Sector Select Communications Services Fund (XLC) -0.98%.

#5: Industry -0.23%and the Industrial Options SPDR ETF (XLI) -0.09%.

#6: Information Technology -0.85%and SPDR Sector Selective Technology ETF (XLK) -0.79%.

#7: Finance -1.45%and the financial options industry SPDR ETF (XLF) -1.39%.

#8: Materials -1.61%and SPDR Sector Selective Materials ETF (XLB) -1.55%.

#9: Real Estate -1.83%and the SPDR Sector Select Real Estate ETF (XRE) -1.78%.

#10: Energy -2.35%and SPDR sector select energy ETF (XLE) -1.61%.

#11: Consumer discretion -3.15%and the Consumer Discretionary Sector SPDR ETF (XLY) -2.83%.

Here’s a chart of the year-to-date performance of 11 sectors and how they stack up against the S&P 500. For investors looking to the future of what’s happening, take a look. Search Alpha Catalyst Watch for a breakdown of next week’s actionable highlights.

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