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