US stocks weekly: Resilient

Fair Isaac

06/10/2025 11:00

Repeats from Friday with no changes to text. Updates chart

** S&P 500 .SPX rises 1.1% as AI enthusiasm and rate-cut hopes offset U.S. government shutdown uncertainties .N

** Dow .DJI also adds 1.1% and Nasdaq Composite .IXIC up 1.3%

** All three major indexes achieve record highs, along with the small-cap Russell 2000 .RUT, which vaults 1.7%

** U.S. 10-Year Treasury yield US10YT=RR retreats to around 4.12%, snaps two consecutive weeks of advances US/

** Majority of sectors persevere: Healthcare most sturdy, while Communication Services and Energy succumb

** Healthcare .SPXHC jumps 6.8%. Pfizer PFE.N gains on drug pricing deal announced by President Trump, lifts drugmaking peers, life sciences firms

SPXHC has best week since June 2022

Nasdaq Biotech index .NBI rallies >6%, hits 4-year high

** Utilities .SPLRCU surge 2.4%. AES AES.N gains after report BlackRock's BLK.N Global Infrastructure Partners (GIP) nearing $38 bln takeover of power co

** Tech .SPLRCT up 2.2%. Data storage providers Western Digital WDC.O, Seagate STX.O ride AI wave to all-time highs - is a cooldown coming? WDC notches 23% weekly gain

Chipmakers rise driven by global AI optimism after South Korea's Samsung 005930.KS and SK Hynix 000660.KS enter deal to supply chips to OpenAI's Stargate project

Semiconductor index .SOX powers up 4.4%

Fair Isaac FICO.N, better known as FICO, leaps 22% on week after rolling out direct licensing program for mortgage scores

** Financials .SPSY edge down 0.3%. Major banks fall as U.S. government shutdown fears weigh

For the week, S&P 500 banks index .SPXBK loses nearly 3%, KBW regional banking index .KRX down 1%

** Consumer Discretionary .SPLRCD loses 0.8%. Tesla TSLA.O initially rises on Thurs after posting record qtrly deliveries, though reverses course on demand slowdown worries as EV tax credit expires

But Nike NKE.N jumps after surprise qtrly rev and profit beat as turnaround takes root despite China weakness, tariffs

** Communication Services .SPLRCL surrenders 2.1%. Netflix NFLX.O sees five days of declines amid Musk call for boycott due to a show that critics say promotes transgenderism to children

However, Electronic Arts EA.O lifts on record-breaking $55 bln leveraged buyout deal by trio of Silver Lake, Saudi Arabia's Public Investment Fund and Jared Kushner's Affinity Partners

** Energy .SPNY slumps 3.3%. Group falls as oil prices drop on oversupply concerns O/R

Occidental Petroleum OXY.N slides on $9.7 bln chemical business sale to Warren Buffett's Berkshire Hathaway BRKa.N

** Meanwhile, Gold knocking on $4,000/oz mark - question is 'when' not 'if', and Bulls for the win: investor optimism gains ground, per latest AAII survey

** SPX performance YTD:

SP 500 2025 YTD THROUGH OCTOBER 3 https://fingfx.thomsonreuters.com/gfx/buzz/akpexwdmlvr/SP%20500%202025%20YTD%20through%20Oct%203.jpg

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com))