Week ending Oct. 13: Market index adds 1.5% as energy prices fall and recession fears ease.
Energy prices fell again last week even as OPEC considers a production cut. Further, fears of a recessionary downturn diminished with the release of the Federal Reserve's "beige book," which indicated moderate levels of growth. The Morningstar US Market Index added 1.5% for the week ending Oct. 13. The index is up 11% for the year.
The Morningstar Market Barometer delivered an encore, with all nine boxes displaying varying shades of green. Small-cap stocks surged ahead making the Morningstar Small Growth Index the best performer among the nine style indexes, posting a gain of 3.1% for the week. The Morningstar Large Core Index, up by 0.9%, was the worst performer.
One of the top-performing stocks for the week was RTI International Metals
The Morningstar Large Core Index got a boost from a couple of restaurant operators that reported strong third-quarter results. Yum Brands