Week ending June 23: Stocks volatile ahead of Fed meeting.
Markets continued to be fickle, as stocks ended another week of high volatility, losing 0.4%. Investors were concerned about the fate of interest rates, ahead of this Thursday's meeting of the Federal Reserve Open Market Committee. With almost half the year behind us, the Morningstar US Market Index is up a smidgen, 0.91% year to date.
Last week's leader became this week's laggard as the Morningstar Large Growth Index gave back all of the previous week's gain, dropping 0.88%. Large Growth remains the only style index in the red for the year with a 4.98% loss. Qualcomm
The Morningstar Mid Growth Index was the only style index to finish the week firmly in the green with a modest 0.52% gain. Pharmaceutical manufacturer shares of Sepracor SEPR jumped 21.69% on positive news for its insomnia drug Lunesta. Citing strong demand from new car buyers, Ford Motor