Kanzhun climbs to top industrial gainer of week, earnings show drags down losers

The Industrial Select Sector (XLI) rose +0.56% for the week ending July 28, being among the 7 out of the 11 S&P 500 sectors, which closed the week in green.

The SPDR S&P 500 Trust ETF (SPY) climbed +1.05% in the week, which saw the earnings season speeding up, and the Federal Reserve pushing interest rates to a 22-year high, with another 25 basis points move. However, the Fed staff is no longer forecasting a recession. Meanwhile, European Central Bank and the Bank of Japan also carried out policy rate decisions.