US stocks weekly: Rocky rebound
BUZZ-US stocks weekly: Rocky rebound ** S&P 500 .SPX breaks two-week losing streak, rises 1% in turbulent trading as investors weigh AI outlays, geopolitical risks and rate-policy path .N
** Dow .DJI climbs 1%, tech-heavy Nasdaq Composite .IXIC gains 1.6%
** S&P 500 started the week ripe for a range resolution, and then Nasdaq breadth offered a glimmer of hope
** Though even with selloff into Weds, Nasdaq Composite finds support near correction territory; indexes recover into Fri
** And with this, the breadth trade's latest plot twist: Big tech roars back
** U.S. 10-Year Treasury yield US10YT=RR advances second consecutive week to 4.72% area US/. Benchmark Treasury yield breakout holds as Fed clouds rate outlook
** A minority of sectors grind higher: Consumer Discretionary and Communication Services bounce back, while bond proxies Real Estate and Utilities wobble
** Consumer Discretionary .SPLRCD vaults 8.3%. Amazon AMZN.O surges as cloud growth allays fears over rising AI spending
Chipotle CMG.N jumps as sales forecast raise overshadows cyclosporiasis outbreak concerns
** Communication Services .SPLRCL rally 5.4%. However, Facebook parent Meta META.O tumbles as AI spending takes a toll on free cash flow
** Consumer Staples .SPLRCS up 1.1%. Coca-Cola KO.N hits record high after Q2 beat, raising annual forecasts, as sector shines
** Tech .SPLRCT inches down 0.1%. Microsoft MSFT.O jumps as cloud surge, softer capex outlook fuel optimism
Apple AAPL.O slides as supply constraints hurt growth outlook
Semiconductor index .SOX loses 4.3%
** Energy .SPNY dips 0.2%. Chevron CVX.N rises after Q2 beat with highest qtrly profit in six years, though ExxonMobil XOM.N falls on Q2 earnings miss
** Industrials .SPLRCI down 1.6%. UPS UPS.N hikes 2026 targets, shares drop on investor skepticism
** Real estate .SPLRCR drops 2.2%. Data center operator Equinix EQIX.O climbs on Thurs after Q2 beat-and-raise. But EQIX finishes week down 6%
** Meanwhile, individual investors take a wait-and-see approach to Warsh
** SPX performance YTD:
Energy | 32.8% |
Industrials | 15.8% |
Tech | 15.3% |
Real Estate | 12.4% |
SPX | 9.4% |
Materials | 9.2% |
Staples | 8.8% |
Healthcare | 4.9% |
Financials | 3.9% |
Utils | 3.8% |
Comm Svcs | 0.9% |
Discretionary | -0.3% |
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
((lance.tupper@tr.com ; terence.gabriel@tr.com))