S&P 500 1,131.50 +1.93%
Click here for the Weekly Wrap by Briefing.com
Bottom Line: Market action last week was positive, led by technology stocks and small-caps. Volume increased and the advance/decline line was healthy. The DJIA increased 1.45% notwithstanding component Merck's 24.8% plunge, its largest weekly drop in over 20 years. Commodity-related stocks continued to outperform and long-term bonds declined as investors anticipated stronger U.S. economic growth. Moreover, the S&P Small-cap 600 reached an ALL-TIME high and the S&P 500 bumped right up against its intermediate-term downtrend line that has been in place since early March. Volume on the S&P 500, which had been in an intermediate-term downtrend since January, broke to the upside last week and should continue to improve through year-end. Finally, measures of investor anxiety were mixed.
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