The S&P 500 slid 1.5 percent between Friday, January 8, and Friday, January 15. It was the index’s sharpest decline since the week ended October 30. The Nasdaq-100 slid 2.3 percent, while the Russell 2000 rallied 1.5 percent. That divergence between big and small has been typical lately as money shifts to value stocks and newer companies.
Cisco Systems (CSCO), Take-Two Interactive Software (TTWO) and Booking (BKNG), and JD.com (JD) all rallied after reporting quarterly numbers. Some beat consensus, others lagged. Regardless, investors found something to like.