S&P 500 Velocity Seen in Defensive Stocks Best Rally Since LTCM

S&P 500 Velocity Seen in Defensive Stocks Best Rally Since LTCM

Scott Eells/Bloomberg

Traders work on the floor of the New York Stock Exchange (NYSE) in New York. The S&P 500 advanced 2 percent last week to 1,614.42, as home sales rose, jobless claims unexpectedly fell and profit at companies from Avon Products Inc. to Seagate Technology Plc beat analyst estimates.