U.S. stocks weekly: Wings clipped

Dice Therapeutics

23/06/2023 21:40

** S&P 500  .SPX  breaks 5-week winning streak, falls 1.4%
as hawkish Fed comments sap risk appetite  .N 
    ** Indeed, to start the week, the SPX rocket looked like it
was sputtering  urn:newsml:reuters.com:*:nL1N38C0Q6
    ** After the Nasdaq Composite  .IXIC  had hit a wall
 urn:newsml:reuters.com:*:nL1N38D115, which then put the tech-laden index on the back
foot  urn:newsml:reuters.com:*:nL1N38F0MD
    ** IXIC ends 8-week winning streak  urn:newsml:reuters.com:*:nL1N38F1YL
    ** Nearly every sector falls from the nest: real estate and
energy descend most, while just healthcare flaps its way to tiny
gain
    ** Energy  .SPNY  slides 3.4%. Group falls as latest central
bank rate hikes stoke demand worries  urn:newsml:reuters.com:*:nL4N38F27G  O/R 
    ** Financials  .SPSY  down 2%. Banks fall as hawkish
rate-hike view fuels loan growth worries  urn:newsml:reuters.com:*:nL4N38E2GH
    S&P 500 Banks index  .SPXBK  drops 4%, KBW Regional Banking
index  .KRX  sheds >7%
    ** Tech  .SPLRCT  drops 2%. Intel  INTC.O  tumbles on Weds
as manufacturing business restructuring update gave no clear
timeline for when it will start scaling up  urn:newsml:reuters.com:*:nL4N38D3PI. INTC
slumps 9%. Chips on Fri retreat further from recent highs
 urn:newsml:reuters.com:*:nL1N38F1KB  urn:newsml:reuters.com:*:nL1N38E23K  urn:newsml:reuters.com:*:nL1N38C1ZP, SOX index  .SOX  loses
4.5%
    ** Industrials  .SPLRCI  sag 1.6%. FedEx  FDX.N  falls on
Weds as demand weakness hits qtrly margins  urn:newsml:reuters.com:*:nL4N38D277
    ** Consumer Discretionary  .SPLRCD  essentially flat. U.S.
FTC accuses Amazon.com  AMZN.O  of duping millions of consumers
into enrolling in Prime service  urn:newsml:reuters.com:*:nL1N38D1K5, though BofA sees
'little impact' from regulator's lawsuit  urn:newsml:reuters.com:*:nL4N38E1MQ. AMZN
gains 3% on the week
    ** Healthcare  .SPXHC  ticks up 0.2%. Eli Lilly's  LLY.N 
shares advance 2.5% as co to buy Dice Therapeutics  DICE.O  in
$2.4 bln deal to bolster immune disease-related portfolio
 urn:newsml:reuters.com:*:nL4N38C3LP
    ** Meanwhile, individual investors pleased with the Fed's
pause  urn:newsml:reuters.com:*:nL1N38F1FE
    ** SPX performance YTD:    
    
 
 
 (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))