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Morningstar Indexes: Weekly Market Report

Week ending April 28:  ExxonMobil, Microsoft weigh down market.

Morningstar Indexes, 05/02/2006

Despite a flurry of strong earnings reports and further clarification by Federal Reserve Chairman Ben Bernanke about a pause in interest rate increases, the Morningstar US Market Index lost 0.14% for the week ending April 28. Disappointing earnings reports from top holdings ExxonMobil XOM (down 2.95%) and Microsoft MSFT (down 11.05%) weighed heavily on the market.

Value stocks continue to push ahead of their core and growth counterparts, with the Morningstar US Value Index ending the week with a gain of 0.72%. Among the Morningstar market capitalization indexes, the Morningstar Large Cap Index was the only cap stripe in the green with a modest 0.02% gain.

Given the outperformance of value and large-cap stocks, it should come as no surprise that the Morningstar Large Value Index gained the most for the week with a healthy 0.93% increase. Financial-services firms pack the best performing list with Bank of America BAC, Citigroup C, J.P. Morgan Chase JPM, and Wachovia WB all finishing up by at least 5% on their prospects for higher lending margins. Conversely, energy stocks jammed the bottom with Marathon Oil MRO, ConocoPhillips COP, and Amerada Hess AHC each dropping over 7% for the week.

The Morningstar Large Growth Index continued its recent slump, dropping another 1.18%--the double-digit drop by Microsoft having the greatest impact on the index. Both Intel INTC and Apple APPL sidestepped the tech malaise triggered by Microsoft, finishing 4.8% and 5%, respectively, higher for the week, Intel bouncing back from recent news that Advanced Micro Devices AMD increased market share.

For a more in-depth look into market performance, view the PDF report U.S. Market Overview.

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