Morningstar Indexes: Weekly Market Report

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 QCOM, a pioneer of CDMA wireless technology, dropped 10.13% after licensee Nokia NOK, the world's leading mobile phone maker, announced plans to restructure its CDMA business. Medical device maker Boston Scientific BSX shares dropped 9% after it announced another product recall involving several models of pacemaker and cardiac defibrillators in its newly acquired Guidant unit.

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 F announced a quadrupling of models available with Sirius Satellite Radio's option, sending shares of Sirius SIRI up 9.83%. Consol Energy CNX, a coal and gas producer, extended a key supply agreement boosting estimated annual shipments along with its share price. Consol finished the week up 9.94%.