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Market Recap and a Look Ahead (week ended 6/8)

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%.

SPY Chart

SPY data by YCharts

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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DISCLAIMER: Nothing in this article should  be construed as a personal recommendation or investment advice.  Nor should anything in this article be construed as an offer, or a solicitation of an offer, to sell or buy any particular investment security.   Investors should conduct their own due diligence and seek the advice of a financial and/or investment  professional before making any investment decisions.

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