Week ending April 27: Quarterly earnings continue to boost market's spirits.
The Morningstar US Market Index rose 0.67% for the week ending April 27. The latest economic reports show that the U.S. economy expanded at its slowest pace in four years during the first quarter, while inflation remained uncomfortably high. Companies continue to report quarterly earnings well above expectations, however, lifting the market's spirits.
All nine Morningstar style indexes finished in positive territory, though the Morningstar Large Value Index barely did so with a 0.06% gain, earning it the last place spot for the week. The Morningstar Mid Growth Index finished on top with a 1.8% advance.
Financial services stocks had a sluggish week, dampening the prospects of the Morningstar Large Value Index. Bank of America