Week ending May 19: Spike in consumer prices spooks investors.
Markets continued to spiral downward as an unexpected spike in the core consumer price index reignited fears of inflation. A modest rally on Friday was not enough to reverse the broad losses incurred, and the Morningstar US Market Index Index lost 2.04% during the week ending May 19.
For the second week in a row, all nine Morningstar style indexes finished with large losses, painting the Morningstar Market Barometer a deep red across board. The Morningstar Small Value Index claimed the dubious distinction of the best performer despite losing 1.44% for the week, while the Morningstar Mid Growth Index was the worst with a 3.6% loss.
The Morningstar Small Value Index got a shot in the arm from NCO Group
The weakness in commodities spilled over into the Morningstar Mid Growth Index as mining and drilling companies and their suppliers took a hit. Joy Global