Stock prices slip, although sentiment remains positive

For the first time in nearly five months, U.S. equities experienced back-toback weekly losses, with the S&P 500 Index declining 2.5%. The weakness was due to overbought conditions (especially in technology) plus mounting skepticism over prospects for another fiscal stimulus package. Coincident with the selloff in technology, growth and momentum underperformed value and cyclicals. Energy was the worst-performing sector, as oil prices fell on global demand concerns.