U.S. stocks weekly: Data cheer

Juniper Networks

16/01/2024 11:00

(Repeats from Friday with no changes to text. Updates chart)
    ** S&P 500  .SPX  gains 1.8% amid inflation data cheer  .N 
    ** Stocks start the week with an opening dip, but quickly
stabilize, mount renewed climb 
    ** This as tech, which has been on the back foot vs banks,
takes the reins again, outperforms for the week; by Fri, ratio
nears 200-DMA resistance 
    ** And Nasdaq Composite  .IXIC  fills its new year gap,
posts 3% weekly rise
    ** Most sectors fired up: Tech and Communication Services
get most applause, while Energy booed
    ** Tech  .SPLRCT  surges 4.9%. Microsoft  MSFT.O  briefly
overtakes Apple  AAPL.O  as world's most valuable co
    Juniper Networks  JNPR.N  jumps 25% on $14 bln buyout by
Hewlett Packard Enterprises  HPE.N 
    Semiconductor index  .SOX  up 3%
    ** Communication Services  .SPLRCL  rallies 3.4%. Meta
Platforms  META.O  rises ~6% after Mizuho sets Street high PT
    ** Industrials  .SPLRCI  up 0.6%. But Boeing  BA.N  extends
decline as US regulators probe MAX 9 incident. BA sheds nearly
13% on the week
    And Delta Airlines  DAL.N  slides on annual profit forecast
cut
    Arca Airlines Index  .XAL  descends >4%
    ** Financials  .SPSY  dip 0.5%. Citigroup  C.N  rises, while
JPMorgan  JPM.N  ends in the red on Fri after Q4 results; Bank
of America  BAC.N  and Wells Fargo  WFC.N  also down
    ** Energy  .SPNY  drops 2.4%. Sector declines on Mon on
Saudi price cuts, rise in OPEC output, but advances on Fri as
some oil tankers avoid Red Sea air strikes  O/R . Crude oil
futures: traders eye support vs resistance battle  
    ** Meanwhile, spot bitcoin ETFs kick off first day of US
trading on Thurs after SEC approval 
    ** SPX performance YTD:    
    

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SP 500 2024 YTD THROUGH JANUARY 12    https://tmsnrt.rs/3vDSR0X
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 (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))