Ford Motor, Enphase tops S&P 500 weekly best, Discovery among worst stocks
The S&P 500 finished trading on Friday with losses for the session and the week, dragged down by weekly declines in energy, down 2.8%, industrials, 1.7%, materials, 1 , 4%, and consumer discretionary, 1.2%.
Stock markets have faltered over concerns about rising inflation and the impact an overheating economy, recovering from the COVID pandemic, will have on US fiscal and monetary policy.
Here are some of the best and worst performers of the S&P 500 SPX,
for the week marked by turmoil and a drop in risk appetite, which some believe is reflected in the lower price of bitcoin BTCUSD,
Top 5 weekly performance of the S&P 500
Ford’s weekly performance comes as the automaker launched its electric pickup F-150 Lightning, which will be able to travel up to 300 miles per battery charge. Target, meanwhile, reported first-quarter adjusted earnings that hit an all-time high, beating Street’s estimates on both earnings and sales.
The 5 weakest weekly performances of the S&P 500
On the other hand, the worst performing list was mostly retailers. Ralph Lauren shares slipped on news that it may close more stores in the coming year.
Discovery stocks were the worst performers on the S&P 500 after news that AT & TT,
will combine its immense media assets WarnerMedia, which includes HBO and CNN, with Discovery to create a new media heavyweight in a $ 43 billion deal.
Meanwhile, the S&P 500, as a whole, posted a weekly loss of 0.4%, the Dow Jones Industrial Average DJIA,
posted a five-session slippage of 0.5%, while the Nasdaq COMP composite index,
finished higher, up 0.3%, ending a four-week losing streak.