Will FANG Stocks Take A Bite Out Of The Stock Market?

Will FANG Stocks Take A Bite Out Of The Stock Market?

The logos for Facebook Inc., Amazon. com Inc., Netflix Inc. and Google, a unit of Alphabet Inc., ... [+] Photographer: Jason Alden/Bloomberg The stock market survived another week of earnings though most of the averages closed lower on Friday. Comments from Fed Chair Powell on Friday indicated that elevated inflation is "likely to last longer than previously expected". It was the third week in a row of solid gains for both the S&P 500 and Dow Jones Industrials which set both intra-day and closing record highs. This action confirmed last week's view that the correction was over. The increased focus on supply chain issues helped boost the Dow Jones Transportation Average to a 3. 8% gain for the week. The Transports were led by trucking and railroad stocks that were up 5. 9% and 4. 6% respectively. The Dow Jones Utility Average was strong showing an increase of 2. 6% followed by a 1. 6% gain in the S&P 500. The SPDR Gold Shares also finished the week higher, up 1. 5% and just barely outperforming the Nasdaq 100. The positive close for all the markets in the weekly market summary above was consistent with the latest results of the