Signs that the U.S. economy may be slowing from its brisk pace earlier in the year drew investors last week to so-called defensive stocks, which are less affected by swings in the economy.
Locally, Oak Brook-based restaurant giant McDonald’s, drugstore retailer Walgreen, health-care products vendor Allegiance and Dean Foods posted healthy gains for the holiday week.
McDonald’s added 3 percent, to $71, after hitting a record high $71.75 during Thursday’s session; Walgreen rose 4 percent, to $42.06, after record high Thursday close, $43.25; Allegiance jumped 4.6 percent, to a record closing high $52.25; and Dean added 2 percent, to $55.81.
Financial-services stocks generally had a good week. Northbrook-based Allstate advanced 7.4 percent, to $47.81, and Chicago-based insurer Old Republic International gained 7.9 percent, to $30.
Northern Trust, Chicago’s last remaining major independent banking firm, gained 4.7 percent, to $77.50, amid rumors the so-called Gray Lady of LaSalle Street might be betrothed.
