The gains weren't huge this week, but with the global economy facing trouble at every turn, investors are no doubt grateful to see the market in the black at all. The situation in Europe remained front and center, keeping investors on their toes throughout the week. Standard & Poor's sounded a concerning note on Monday when it placed the credit ratings of 15 European Union countries on review, threatening a cut of one to two notches. On Friday though, the market cheered an agreement among EU countries to draft a new treaty that would bring deeper economic integration and potentially help head off a similar debt-fueled crisis in the future.
Thanks to the jump on Friday, the S&P 500 managed a gain of nearly 1% for the week while the Dow Jones Industrial Average
Bottom 3 Performing Sectors
S&P Sector |
Weekly Price Change |
December Price Change |
---|---|---|
Telecommunications | 0.4% | 0% |
Energy | 0.2% | (0.6%) |
Materials | (0.1%) | (1.4%) |
Source: S&P Capital IQ. Weekly price change is Dec. 2-Dec. 9. Monthly price change is Nov. 30-Dec. 9.
Refiner Tesoro
While Tesoro was the hardest hit, it wasn't the only refiner losing ground during the week; Valero fell 6.3% and Western Refining
Also grabbing one of the bottom three spots for the week was Olive Garden and Red Lobster parent Darden Restaurants
Bottom 3 Performing S&P 500 Companies
Company |
Weekly Price Change |
---|---|
Darden Restaurants | (9.1%) |
Tesoro | (11.1%) |
Juniper Networks |
(11.9%) |
Source: S&P Capital IQ. Weekly price change is Dec. 2-Dec. 9.
Also showing up among the week's laggards was oil services giant Halliburton
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