The equity markets were flat for the week, with the SP500 finishing up 0.1% and the NASDAQ +0.7%. The stock indices were due for a pause after the rally since mid-March.

The key yield curve finally inverted this week (10-year rate lower than the 2-year), which historically has been a signal of a future economic recession. However, the recession's timing and its impact on the stock market are not easy to predict.

Oil dropped below $100 after the US released more barrels from its strategic reserve.

We saw a mixed sector performance, with 7 out of the 11 SP500 sectors positive this week. Real Estate and Utilities led the market while Energy and Financials lagged.

Energy remains the undisputable winner of 2022 with a 39% gain, while Utilities Is the only other positive sector this year, and Communication Services is the only remaining sector in correction territory.

More charts in my weekly stock debrief:

$SPY $SPXL $DIA $QQQ