Week ending May 18: Market makes gains for seventh straight week.
Markets continue to scale new highs. The Morningstar US Market Index rose 0.94% for the week ending May 18, scoring its seventh straight positive week. Merger and acquisition activity remains a key booster of investor sentiment, while strong quarterly earnings reports have provided added support.
Large-cap stocks did sharply better this week, as demonstrated by the performance of Morningstar's nine style indexes. The Morningstar Large Value Index was by far the leader, posting a 2% gain. The Morningstar Small Core Index finished last with a 0.82% loss.
Energy stocks strongly contributed to the Morningstar Large Value Index, as rising oil and gasoline prices caused anticipation of bumper profits for these companies. ExxonMobil
The week's best individual stock performance came from online marketing and advertising services provider aQuantive