Markets

Strong Week for S&P 500 Erases Last Week's Losses, 2015 Decline

A small decline today was far from enough to derail the S&P 500 this week, with three days of solid advances ahead of Thursday's holiday-shortened trading session carrying the market gauge to a 2.42% rise that also worked to erase its previous losses for the year. The S&P 500 also narrowly outpaced the Nasdaq Composite index this week but easily ran past blue-chips as measured by the the Dow Jones Industrial Average by a considerable margin as energy stocks rose nearly 2% as a group as crude oil bounced back from a slide to an 11-year low earlier in the week.

All 10 of the industry sectors in the S&P 500 managed wins this week, although it was shares of utility and health care companies that again saw the biggest gains, rising 4.02% and 3.03%, respectively, reflecting a still somewhat cautious mood among many investors despite the first signs of what may be the start of the markets' traditional year-ending "Santa Claus Rally." Celgene ( CELG ) had one of the better weeks among health care stocks, rising almost 11%, after Tuesday settling a legal fight that will keep a rival drugmaker in India from producing a generic version of its Revlimid cancer medication for almost another decade.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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