Week ending Jan. 19: Earnings season gets off to mixed start.
Markets were choppy at the start of corporate earnings reporting season. A late-week rally in crude oil prices and new data on tightening in the labor market took a back seat to mixed fourth-quarter results and dour forecasts from some bellwether stocks. The Morningstar US Market Index finished the week of Jan. 19 down a scant 0.1%.
Small-cap stocks trailed their large- and mid-cap peers, while growth stocks-which had a strong run in the first two weeks of the year-lagged value and core stocks. The Morningstar Large Value Index was the best performer among the nine Morningstar style indexes with a gain of 0.63%, while the Morningstar Small Growth Index trailed the pack with a loss of 1.74%.
The rebound of large growth stocks was put on hold as several technology stocks pushed the Morningstar Large Growth Index down last week. Cisco Systems
Mid-cap semiconductor manufacturer Lam Research