The S&P 500 posted its biggest gain of the year with 3.6% rebound in the aftermath of a tough month of May. Yields on the benchmark Ten Year Treasury rose to 1.63% after finishing the previous week below 1.5%.
Next Week’s Potential Market Moving Events:
Monday: All eyes will focus on the details and market reaction to the Spanish bailout news of the weekend.
Wednesday: An Italian bond auction is a worth keeping an eye on given the nervousness surrounding potential contagion of the European Crisis. The Producer Price Index (PPI) for the month of May will be released.
Thursday: The Consumer Price Index for the month of May is released.
Friday: Last day of trading before the Greek Elections of Sunday, which could well determine the ultimate fate of the Euro.
WEEKLY SECTOR ETF PERFORMANCE
| ETF Sector Performance | ||||||||||
| Week Ended June 8, 2012 | ||||||||||
| Q1 | Weekly | 2QDT | YTD | |||||||
| SPY | S&P500 SPDR | 12.7% | 3.9% | -5.5% | 6.5% | |||||
| XLF | Financials | 21.9% | 4.8% | -10.5% | 9.1% | |||||
| XLU | Utilities | -2.6% | 3.1% | 5.1% | 2.3% | |||||
| XLB | Materials | 10.8% | 4.5% | -6.5% | 3.6% | |||||
| XLP | Consumer Staples | 5.4% | 2.7% | -0.1% | 5.3% | |||||
| XLY | Consumer Discretionary | 15.9% | 4.0% | -3.7% | 11.6% | |||||
| XLV | Health Care | 9.0% | 3.0% | -2.7% | 6.0% | |||||
| XLI | Industrial | 11.4% | 3.2% | -7.0% | 3.6% | |||||
| IYW | Technology | 21.9% | 5.2% | -9.3% | 10.6% | |||||
| IYZ | Telecom | 6.2% | 4.1% | -2.8% | 3.3% | |||||
| AGG | Aggregat Bond | 0.1% | 0.0% | 0.2% | 1.7% | |||||
| TIP | TIPs Bond | 0.8% | -0.6% | 1.6% | 4.3% | |||||
| LQD | Inv. Grade Corp Bond | 2.3% | -0.7% | 3.5% | 4.1% | |||||
| GLD | Gold | 12.0% | -0.7% | 1.8% | 1.8% | |||||
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