Market Insights

The S&P 500 is bouncing at its 50-day moving average as the market drifts into the dog days of summer. Here’s a breakdown of the best- and worst-performing industries so far this week.

Winners:

• Energy is surging with life as crude oil (@CL) rallies to a new multiyear high. Four of the S&P 500’s best performers this week are in the energy sector. The Market Vectors Oil Servicers ETF (OIH) is also outperforming the broader market, up more than 2 percent since Friday’s close.
• Consumer staples like Campbell Soup (CPB) and JM Smucker (SJM) have rallied as merger activity builds in the sector.
• Utilities are the best major sector this week as falling interest rates draw investors to dividend plays.

Losers:

• Technology is the weakest major sector, with Chinese technology stocks performing worst. Semiconductors have also lagged.
• Airlines have led a selloff in transportation stocks. Worries about global trade disputes have weighed on both technology and transports.
• Financials are down more than 1 percent, led by a 2 percent drop in banks.
• Metals and emerging markets have lost about 3 percent of their value, also hurt by global economic uncertainty.