US stocks weekly: Fumble!

FMC

10/02/2025 11:00

(Repeats from Friday with no changes to text. Updates chart)
** S&P 500  .SPX  ends week down 0.2% as trade war fears help
sack Wall Street on Fri  .N 
    ** Dow  .DJI  retreats 0.5%, snapping 3-week winning run,
and Nasdaq composite  .IXIC  slips 0.5%
** For second week in a row, traders faced a Monday morning
rout, but SPX finds support, rallies
** This, as the Nasdaq composite see lots of chop, as tries to
avoid a bigger drop, amid an internal struggle
** U.S. 10-Year Treasury yield  US10YT=RR  falls to lowest level
since mid-Dec, before clawing back to 4.50% area; this as it
flirts with the Clouds
    ** In the end, however, a majority of sectors make modest
gains; Consumer Staples and Real Estate hit paydirt, while
Communication Services and Consumer Discretionary get blitzed
** Consumer Staples  .SPLRCS  rally 1.6%. Philip Morris  PM.N 
rises to record high after forecasting annual profit above
estimates
** Energy  .SPNY  advances 1%. Group rises as Trump set to
reimpose 'maximum pressure' on Iran
** Tech  .SPLRCT  tacks on 0.8%. Palantir  PLTR.O  surges 34% as
AI drives strong annual, Q1 rev forecasts
Though Apple  AAPL.O  supplier Skyworks  SWKS.O  plummets as
competition dents mobile segment outlook, SWKS sheds
26%. Advanced Micro  AMD.O  hits 15-month low after AI chip
revenue disappoints
    Semiconductor index  .SOX  edges lower by 0.1%
** Healthcare  .SPXHC  off 0.3%. Merck  MRK.N  falls on dour
2025 outlook as it pauses Gardasil vaccine shipments to China
** Materials  .SPLRCM  down 0.6%. Agrichemicals producer FMC
 FMC.N  sinks 38% as Q1 rev forecast below consensus due to weak
demand
** Communication Services  .SPLRCL  fades 2.1%. Google parent
Alphabet  GOOGL.O  tumbles as cloud growth concerns, heavy capex
unnerve investors
** Consumer Discretionary  .SPLRCD  thrown for a 3.6% loss. 
Amazon.com  AMZN.O  down on Fri as cloud growth, sales forecast
miss estimates
** Meanwhile, individual investors  since early-November 2023,
and this isn't just any given Sunday, it's Super Bowl Sunday!
    ** SPX performance YTD:

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SP 500 2025 YTD THROUGH FEBRUARY 7    https://fingfx.thomsonreuters.com/gfx/buzz/gkvlbnrowvb/SP%20500%202025%20YTD%20through%20Feb%207.jpg
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(Lance Tupper and Terence Gabriel are Reuters market analysts.
The views expressed are their own)
((lance.tupper@tr.com ;  terence.gabriel@tr.com))