US stocks weekly: Summer shine
RPT-BUZZ-US stocks weekly: Summer shine Repeats from Thursday with no changes to text. Updates graphic
** S&P 500 .SPX rises 1.8% as investors eye geopolitical developments, jobs data .N
** Dow .DJI lifts 2% and tech-heavy Nasdaq Composite .IXIC advances 2.1%
** Big tech’s rough June put the Magnificent Seven MAGS.K under pressure, but ETF rebounds >5% for the week, while S&P 500 rebounds into quarter-end as bulls eye strong gains
** Indeed, from megacaps to small caps, U.S. stocks closed a powerful quarter, though as markets diverge, momentum dominates
** U.S. 10-Year Treasury yield US10YT=RR snaps 3-week run of declines, rises about 11 basis points to 4.48%, biggest gain since mid-May US/
** Vast majority of sectors light up the sky: Communication Services most radiant, while bond proxies dim
** Communication Services .SPLRCL pop 4.9%. Comcast CMCSA.O jumps on Mon on plan to spin off NBCUniversal, Sky
And Charter Communications CHTR.O gains after report of talks with SpaceX SPCX.O for mobile phone partnership
Facebook parent Meta META.O vaults on report co building a cloud business to sell excess AI capacity
** Consumer Discretionary .SPLRCD ascends 2.8%. Nike NKE.N rallies as investors welcomed early signs of profit margin improvement despite China slump
** Tech .SPLRCT adds 0.9%. Apple AAPL.O climbs to 3-week high amid report of new iPhones
Semiconductor index .SOX retreats 4.4% after notching best H1 in over two decades on AI-fueled rally
** Consumer Staples .SPLRCS edge up 0.1%. Kroger KR.N initially drops on Weds on $1.65 bln deal to buy grocer Giant Eagle amid intensifying competition, but stock ends slightly in the green on the week
** Real estate .SPLRCR sags 1.5%. Digital Realty DLR.N drops after purchase of Blackstone BX.N data center stake, asset manager's subsequent $2.3 bln secondary offering
** Meanwhile, AAII sentiment swings from hope to hesitation
** SPX performance YTD:
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
