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(XLK) Stock Market News for May 17, 2013 – Market News

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Benchmarks ended their streak of gains after the president of the Federal Reserve Bank of San Francisco, John Williams said the Central Bank could start tapering the monetary stimulus program this summer, if the job market continues to improve. Meanwhile, a string of discouraging domestic reports was released yesterday, adding to investors’ woes. Nine out of the top ten S&P 500 industry groups ended in the red. Consumer discretionary stocks were the major losers while the technology sector was the only gainer. The Dow Jones Industrial Average (DJI) lost 0.3% to close the day at 15,233.22. The S&P 500 slipped 0.5% points to finish yesterday’s trading session at 1,650.47. The tech-laden Nasdaq Composite Index decreased 0.2% to end at 3,465.24. The fear-gauge CBOE Volatility Index (VIX) increased 2.0% to settle

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