Week ending Aug. 25: Signs of weakness in housing market raises concerns.
Broad signs of weakness in the housing market raised concerns that the Federal Reserve may have gone too far in tightening interest rates. Fears that a persistent downturn in housing will have a negative impact on consumer spending sent the Morningstar US Market Index down 0.73% for the week ending Aug. 25.
The Morningstar Market Barometer reflected this anxiety as investors flocked to more defensive large-value stocks. The Morningstar Large Value Index was the best performer among the nine Morningstar style indexes, posting a gain of 0.23% for the week, while the Morningstar Small Growth Index was the worst, losing 2.11%.
Value-oriented energy stocks pushed ahead on a jump in oil prices triggered by the start of hurricane season in the Gulf of Mexico. ExxonMobil
Small-growth stocks took a beating last week. Reinforcing concerns over weakness in consumer spending, clothing retailers Dress Barn
For a more in-depth look into market performance, view the PDF report U.S. Market Overview.