Stocks capped a thundering rebound for the week with mild gains almost across the board Friday. Small caps outperformed.
Apple (AAPL), meanwhile, finished in the winners' circle Friday, up 0.6% to 108.42. But the megacap tech lagged as money flowed away from large-cap techs and into smaller companies across banking, health care, pharmaceutical, industrial and some retail sectors.
HealthEquity (HQY), Planet Fitness (PLNT) and Home Bancshares (HOMB) are just a few examples of small-cap issues that posted big weekly gains and triggered new buy points.
The Russell 2000, up 2.4% on Friday, finished the week up 10.2%.
The Nasdaq composite rallied 0.5% on Friday, taking back a big chunk of Thursday's 0.8% drop. But the S&P 500 cooled off, falling 0.1%. The Nasdaq and S&P 500 both ran 3.8% higher for the week.
While the gains were an outstanding response to the surprise presidential election, the S&P actually showed a little more technical positives. The large-cap index burst sharply above the 50-day moving average, while the Nasdaq closed a hair below its 50-day line.
However, breadth on the Nasdaq has sharply improved. The Nasdaq's advance-decline line had been falling for six straight weeks, but shot higher this week. On Friday, winners beat losers by more than a 2-to-1 ratio. Keep in mind, many small banking and industrial companies also trade on the Nasdaq.
RELATED:
Investing In IPO Stocks: Why Planet Fitness Has Emerged As A New Leader
