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RPT-BUZZ-U.S. stocks weekly: New highs feast

Mon 30th November, 2020 11:13am
(Repeats from Friday, no changes to text. Adds chart) ** S&P 500 .SPX achieves new record high, posts 2.3% gain as vaccine headway, Biden transition and recovery hopes buoy markets .N ** Dow .DJI , Nasdaq .IXIC and Russell 2000 .RUT also celebrate all-time highs ** Indeed, the market has been running hot, but might the Nasdaq soon dial it down? urn:newsml:reuters.com:*:nL1N2I9133 ** And when it comes to the Dow, uncharted territory may have its pitfalls urn:newsml:reuters.com:*:nL1N2IB14U ** Nearly every sector gobbles; energy and financials gorge, while just real estate feels hungry; though when it comes to growth vs value, there may have been a goodbye kiss urn:newsml:reuters.com:*:nL1N2IA18C ** Energy .SPNY jumps 8.5%. Sector on track for best month ever with ~34% gain, as crude hits highest since Mar urn:newsml:reuters.com:*:nL4N2IA3A5 urn:newsml:reuters.com:*:nL1N2ID07G ** Financials .SPSY rally 4.6%. Big banks rise on recovery hope, track yields higher urn:newsml:reuters.com:*:nL4N2IA2FV. S&P 500 Banks index .SPXBK advances ~7% ** Consumer Discretionary .SPLRCD up 3%. But retailer stocks pressured by thin Black Friday crowds urn:newsml:reuters.com:*:nL4N2ID3DI. Gap GPS.N worst SPX stock, sinks ~11%, on profit miss as pivot to online sales increases marketing and shipping costs urn:newsml:reuters.com:*:nL4N2IB2PL. Still, SPDR S&P Retail ETF XRT.P gains >6% ** Industrials .SPLRCI up 2.4%. Airlines help lift Dow Transports .DJT to record high urn:newsml:reuters.com:*:nL1N2IA1ZN. DJT adds ~3%, while Arca Airline index .XAL climbs 11% ** Tech .SPLRCT up 2.1%. Though Salesforce.com CRM.N slips on report it approached workplace messenger platform Slack Technologies WORK.N with acquisition offer urn:newsml:reuters.com:*:nL4N2IB3FD ** Meanwhile, bulls try to run again per latest American Association of Individual Investors (AAII) Sentiment Survey urn:newsml:reuters.com:*:nL1N2ID127 ** SPX performance YTD: <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SP 500 2020 YTD THROUGH NOV 27 https://tmsnrt.rs/36k7zuP ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own) ((lance.tupper.tr.com@reuters.net lance.tupper@tr.com terence.gabriel.tr.com@reuters.net terence.gabriel@tr.com))
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