Stock Market This Week: MRNA Historic Week, COIN Soars, WMT Plunges

**Marley Kayden** (0:00)
Welcome to The Wrap, I'm Marley Kayden, here to take you through today's market action. Let's take a look at where the markets closed to end the week. The S&P 500 was down 1.4% for the week. The Dow was lower by more than 8 tenths of a percent. The Nasdaq 100 was the big laggard, down just shy of 2.5%. The Russell 2000 was down 1.6%.
As we look at the leading and lagging sectors for the week, healthcare was the leader gaining 4.3%. That was followed by energy, which was up 2.5%, and materials, which gained 2.3%.
On the downside, utilities and industrials both were lower by about 3.5%, and information technology was down about 3.25%.
As we look at stocks that were on the move, the big winner of the week was Moderna gaining 129% this week after its major announcement with Merck. The company announced that its experimental personalized vaccine showed positive results in preventing cancer from coming back or spreading in a late stage trial study of high-risk melanoma patients. More details will be presented at a medical conference later this year. This week's move has pushed Moderna's year-to-date gain up to 391%.
The next big winner in the S&P 500 this week was Coinbase gaining about 25%. The move higher was fueled by President Trump urging Congress to pass the Clarity Act. That shot Bitcoin to its highest level in three months. Other stocks that benefited from the news circle gaining 22% and Strategy, which was up 28% on the week. To the downside this week was Walmart, down about 10% on the week. Earnings were the primary driver of that move lower after comp sales came in below estimates at 2.6% and EPS guidance for next quarter and the full year both came in below consensus estimates. That move lower dropped the stock down to its lowest level in nine months and erased its year-to-date gains. As we look ahead at what we're watching for next week on the Economic Data Front, Tuesday we'll get the housing data from Kay Schiller, new home sales and the house price index along with consumer confidence. Wednesday will be focused on inflation with the latest PCE reading, durable goods and GDP. Thursday, it's jobless claims and then on Friday, we'll get the latest consumer sentiment report. Earnings are slowing down but Wednesday is the highlight of the week with NVIDIA's earnings after the closing bell. We'll break down those numbers as soon as they hit the wire on an extended version of market on close. Also reporting on Wednesday, Salesforce, CrowdStrike and Okta. That is going to do it for the rep. I'm Marley Kayden. Remember you can tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.