Week ending Feb. 2: Stocks surge as Fed leaves rates unchanged.
The Federal Reserve left interest rates unchanged last week, endorsing the view of moderating inflationary pressure as the economy moves toward a soft landing. Stocks surged despite a 6.5% spike in oil prices. The Morningstar US Market Index gained 2% for the week ending Feb. 2.
All nine Morningstar style indexes were up strongly for the week. Value stocks extended their winning streak over growth stocks to a total of three weeks, chipping away another 0.24% from the growth index's early-year lead. The Morningstar Small Value Index was last week's top performer with a robust 2.9% gain. The Morningstar Large Core Index finished the week on the bottom, with a respectable 1.4% gain.
Shares of First Republic Bank
Shares of wireless equipment maker Motorola