However, within the benchmark index, the sector is still up 1.21% for July.
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The Fed has apparently ignored recent jumps in the ISM Mfg Index, ISM Non-Mfg Index (service sector), retail sales, durable goods orders, and the like, which indicated even the point in the recovery may be near where the employment situation improves.
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Among reports of recent weeks that came in better than forecasts were consumer sentiment, retail sales, home sales, construction spending, auto sales, factory orders, the ISM Mfg Index, the ISM Non-Mfg (service sector) Index, and so on.
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Precious metals were the best-performing sector within the index, gaining 6.82%, while grains were the worst-performing sector, sliding 9.72%, he said.
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The latest jobs report showed an economy adding no jobs in August, while the Philly Fed manufacturing index signaled a contracting manufacturing sector, even though the ISM manufacturing report showed expansion, albeit at a slowing pace.
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The ISM Non-Mfg Index, covering the services sector, also declined in March.
The Chicago PMI will be released on Tuesday, the ISM Mfg Index on Wednesday, and the ISM non-mfg Index (services sector) on Friday.
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Shares of financial companies, the index's worst-performing sector over the past month, led the advance, while telecommunications and consumer-staples stocks lagged behind.
However, the ISM Non-Manufacturing Index, which measures the service sector (which accounts for 80% of jobs in the U.S.) fell to 51.5 in August from 54.3 in July, worse than forecasts, and the lowest reading since January.
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This week it was reported that the ISM Non-Mfg Index, which tracks the service sector of the economy, plunged to 52.8 in April from 57.3 in March (versus the consensus estimate of economists that it would improve to 57.8).
Plans for partly government-funded health care in the U.S. have kept the European pharmaceutical sector subdued in the 12 months since Obama came into office, with its leading sector index up just 10.4% in that time period while Europe's top 500 stocks are up 35.8%, according to Pope.
Some of the other key U.S. economic indicators next week include personal income and spending Monday, Chicago Purchasing Managers Index and consumer confidence on Tuesday, ADP private-sector employment report and Institute for Supply Management manufacturing PMI Wednesday, and initial jobless claims Thursday.
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With a broad market index you are diversifying company risk, sector risk and sometimes country risk.
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The official purchasing managers' index, a gauge of the industrial sector, edged down to 50.4 in January from 50.6 in December.
Banks also dropped sharply, and the index for that sector slid 1.9%.
But did the better than expected jobs report cancel out the even more surprising plunge in the ISM service sector index in April, reported the previous day?
And far more of the European's package is in bonuses and free shares linked to the performance of the company relative to its sector or an index, rather than in options which relate rewards solely to the movement of the company's share price.
Another method is to swap the total return on the NCREIF index broken down by property sector, allowing investors to take a position in an alternate property sector in which they may not own properties, thus allowing investors to swap the returns from office related real estate for retail real estate.
Select Sector SPDR-Financial (XLF) has 81 cap-weighted holdings, Vanguard Financial Index Fund (VFH) has 492 cap-weighted holdings, iShares Dow Jones US Financial Sector (IYF) has 258 cap-weighted holdings and , iShares Dow Jones US Financial Services (IYG) has 119 cap-weighted holdings.
Of the 31 retail sector REITs (in the FTSE NAREIT Index), the overall average dividend yield is 3.1 percent and the combined retail sector market capitalization is 135.35 billion or around 26 percent of the overall capitalization of the FTSE NAREIT All Equity REIT Index.
The closely watched 17-nation euro zone PMI index, which measures both manufacturing and service sector strength, dropped to 48.7 in March.
Unlike their rivals to the south, metals and mining shares were the weakest performers, with the RTS index for that sector down 1.8% even after the late-day recovery.
Armed with index funds and strategies like sector rotation, relative value and tactical asset allocation, these advisers all attempt to earn their keep by beating benchmarks net of fees.
Other indicators such as the ISM manufacturing index, which measures growth in the manufacturing sector, are showing improvements as 2010 draws to a close, leaving many to watch the unemployment rate closely.
However, the ISM Non-Manufacturing Index, which measures activity in the service sector (accounting for 80% of the jobs in the private sector), fell from 54.3 in July to 51.5 in August, and was ignored.
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Additionally, the ISM Manufacturing index fell in May, though it still indicates expansion in the manufacturing sector, albeit at a slower rate.
The Stoxx 600 index for the sector ended down 3%, led by Italian lenders.
The Powershares QQQ Trust ( QQQQ) tracks the Nasdaq 100 index, which has been the strongest US market sector.
Other ETF standouts include the iShares MSCI ACWI ex US Financials Sector Index Fund (AXFN), outperforming with a 4.4% gain over the period.
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