It was a great week for markets around the world. Santa is doing his best to bring in the holiday cheer. The S&P 500 rocketed higher with the 10year yield gaining as bonds prices dropped. Risk on !
The best sector was energy, which grabbed over 5% as the price of oil clipped the $100 level. Financials were also on fire as the rotation trade was in full swing.
The U.S. Dollar lost ground as the idea that there is less of a need for a safe haven was present. A major change from just a week ago.
That helped to push commodity prices higher.
As has been the case lately, the what was up one day or week, is often down the next and visa-versa.
The biggest gaining stocks for the S&P 500:
And the losers:
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