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0L4T - TECHNOLOGY SELECT SECTOR SPDR ETF News Story

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RPT-BUZZ-U.S. stocks weekly: Stimulus may need a shot

Mon 23rd November, 2020 11:08am
(Repeats from Friday, no changes to text. Adds chart) ** S&P 500 .SPX snaps 2-week win streak, loses 0.8%. Fading fiscal stimulus and shutdown jitters sap some vaccine cheer .N ** Indeed, although the re-opening trade ratchets up urn:newsml:reuters.com:*:nL1N2I222A, and a Nasdaq castle wall falls urn:newsml:reuters.com:*:nL1N2I31V2 ** the SPX is hot to the touch, may need to cool down urn:newsml:reuters.com:*:nL1N2I51XN ** Though when it comes to small-cap tech vs large-cap tech, the little guys grab the spotlight urn:newsml:reuters.com:*:nL1N2I611F ** Most sectors decline; utilities and healthcare feel weak, while energy shows vitality ** Healthcare .SPXHC slides 3%. Pharmacy chains, drug distributors slump as Amazon.com AMZN.O throws hat in the ring urn:newsml:reuters.com:*:nL4N2I32YP. Though Pfizer PFE.N rises Fri as co to submit emergency use authorization request to U.S. FDA for COVID-19 vaccine urn:newsml:reuters.com:*:nL4N2I62KU ** Consumer Staples .SPLRCS off 1.4%. But Walmart WMT.N inches to record high, forecasts promising holiday season as online sales soar urn:newsml:reuters.com:*:nL4N2I32J1 ** Tech .SPLRCT slips 0.9%. Chipmaker Nvidia NVDA.O dips as it expects decline in Q4 data center sales urn:newsml:reuters.com:*:nL4N2I52Z4 ** Consumer Discretionary .SPLRCD ticks down. Target TGT.N rises on Q3 beat as same-day delivery boosts online demand urn:newsml:reuters.com:*:nL4N2I435G. On the flip side, Home Depot HD.N falls on high employee benefits, margin pressure urn:newsml:reuters.com:*:nL4N2I32QU, and rival Lowe's LOW.N drops as holiday-qtr forecast misses consensus urn:newsml:reuters.com:*:nL4N2I431R ** Industrials .SPLRCI up 1%. Boeing BA.N among top sector performers, up ~7%, as U.S. approves 737 MAX return urn:newsml:reuters.com:*:nL4N2I4331, boosts airlines urn:newsml:reuters.com:*:nL4N2I43M5. Arca Airline index .XAL lifts >6% ** Energy .SPNY jumps 5%. Beleaguered group rallies as oil prices post 3rd straight weekly advance, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns cap gains urn:newsml:reuters.com:*:nL1N2I604G ** Meanwhile, Tesla TSLA.O surges ahead of its Dec S&P 500 debut, adds to dominance of benchmark index's biggest players urn:newsml:reuters.com:*:nL1N2I530C. And as Bitcoin BTC=BTSP climbs, nears 2017 bubble peak urn:newsml:reuters.com:*:nL8N2I645X, backers hope this time it's different urn:newsml:reuters.com:*:nL4N2I43AL, as it may be the new gold urn:newsml:reuters.com:*:nL1N2I31EL ** SPX performance YTD: <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SP 500 2020 YTD THROUGH NOV 20 https://tmsnrt.rs/2J2RCjm ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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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