Market Insights

The S&P 500 is down about half a percent in the past week, which was shortened by Memorial Day. Let’s take a look at the best- and worst-performing major sectors and industries over that time:

Winners

• The iShares Russell 2000 ETF (IWM) has led the indexes with a 1.2 percent gain since last Wednesday. It’s benefited from political and financial risk overseas and continued strength in the U.S. dollar. It’s also the only major index to hit a new 52-week high today.
• The Dow Jones Transport Average ($DJT) has risen about the same amount. Once again, investors are sticking with companies that will benefit from a strong economy — especially on the domestic front. Click here for our special report on the group.
• Homebuilders rose about 2 percent, continuing to rebound from a sharp selloff in the middle of May.

Losers

• Global stocks, especially emerging markets (EEM), have dropped by 1-8 percent. Brazil (EWZ), Italy and Spain have led the carnage. Click here for more.
• The SPDR Financial ETF (XLF) is down 3 percent on worries about Italian debt and as interest rates fell.
• There’s been heavy profit-taking in SPDR Energy ETF (XLE) and the Market Vectors Oil Services ETF (OIH) as oil pulls back from multiyear highs. Remember there’s an OPEC meeting on June 22.