U.S. stocks weekly: Sacked

Chunghwa Telecom Co

13/02/2023 11:00

(Repeats from Friday, no changes to text. Updates chart)
    ** S&P 500  .SPX  snaps 2 week-winning streak, drops 1.1%
 .N 
    ** Indeed, traders try to assess whether weakness is just a
rest or a relapse  urn:newsml:reuters.com:*:nL1N34M0PZ
    ** This as bullish momentum has built in the Nasdaq  .IXIC 
 urn:newsml:reuters.com:*:nL1N34N0NE
    ** Though bitcoin  BTC=  breakdown below ~$22,500 gives
pause  urn:newsml:reuters.com:*:nL1N34P0Z4; IXIC snaps five-week win streak  urn:newsml:reuters.com:*:nL1N34O0QY
 urn:newsml:reuters.com:*:nL1N34Q2R6 
    ** By Fri, SPX back on the back foot, but then firms up off
low  urn:newsml:reuters.com:*:nL1N34Q115
    ** Nearly every sector thrown for a loss: communication
services surrenders most yardage, while just energy hits paydirt
    ** Communication services  .SPLRCL  tumbles 6.6%. Telecom co
Lumen Technologies Inc  LUMN.N  worst SPX performer, sheds 25%,
after downbeat forecast  urn:newsml:reuters.com:*:nL4N34O2O1. Google-parent Alphabet
 GOOGL.O  slides on AI chatbot Bard fumble  urn:newsml:reuters.com:*:nL4N34O3FV. GOOGL
gives up 10%
    Disney  DIS.N  announces job cuts in major revamp under
reinstated CEO Iger  urn:newsml:reuters.com:*:nL1N34O2QF, shares dip >2% on the week
    ** Consumer discretionary  .SPLRCD  down 2.2%. Expedia
 EXPE.O  falls 9% after Q4 profits miss, hits other
travel/booking sites  urn:newsml:reuters.com:*:nL4N34Q3QE. Though, casino stocks rally
on optimistic outlook from Wynn  WYNN.O , MGM  MGM.N 
 urn:newsml:reuters.com:*:nL4N34P2LO: WYNN, MGM both rise >5%
    ** Tech  .SPLRCT  trips 1.1%. PayPal  PYPL.O  warns of
pressure on discretionary spending, shares fall >5%
 urn:newsml:reuters.com:*:nL4N34P4I2, but Fortinet  FTNT.O  rises ~12% on Q4 profit beat
 urn:newsml:reuters.com:*:nL4N34N4DA, boosts other cyber security stocks  urn:newsml:reuters.com:*:nL4N34O2XD
    ** Healthcare  .SPXHC  edges down 0.2%. Contract drugmaker
Catalent Inc  CTLT.N  jumps on report of buyout interest from
Danaher  DHR.N   urn:newsml:reuters.com:*:nL4N34M24L. CTLT leaps 26%
    ** Energy  .SPNY  advances 5%. Sector gains Fri as Russia
trims oil supply  urn:newsml:reuters.com:*:nL4N34Q31C  O/R 
    ** Meanwhile, time to trot out the Super Bowl Indicator
 urn:newsml:reuters.com:*:nL1N34Q1RQ
    ** SPX performance YTD:    
    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
SP 500 2023 YTD THROUGH FEBRUARY 10    https://tmsnrt.rs/3YoXqp7
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (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))