US stocks weekly: Distress

Lowes Companies

27/02/2026 22:03

** S&P 500 .SPX edges down 0.4% as artificial intelligence worries, revived tariff angst and geopolitical concerns persist .N

** Dow .DJI drops 1.3%, Nasdaq Composite .IXIC dips 1%

** S&P 500 still corralled by moving averages with 100-DMA resilient, while a contracting range puts Nasdaq Composite .IXIC at a crossroads

    ** In any event, US stocks end February on sour note, but Dow's monthly bar still sings

** U.S. 10-Year Treasury yield US10YT=RR declines to about 3.95%, a three-month low US/. Benchmark Treasury yield; About to go over the waterfall?

** As it turns out, a minority of sectors feel the tension: Tech and Financials agitated, while safe haven plays provide solace

** Tech .SPLRCT tanks 2.2%. First Solar FSLR.O slides as outlook disappoints, citing Trump-era permitting delays

Nvidia NVDA.O falls despite strong earnings; semiconductor stocks weaken

AMD AMD.O jumps on Tues on clinching up to $60 bln chip deal with Meta Platforms META.O

Semiconductor index .SOX retreats 2%, snaps 10-week winning streak

IBM IBM.N bounces after worst day since 2000 on AI disruption worries, still suffers ~7% weekly loss

Conversely, Dell Technologies DELL.N surges on AI server growth forecast

** Financials .SPSY flop 2%. Group starts week on the back foot as AI disruption worries dent sentiment, then sinks on Fri amid renewed credit risk and AI disruption jitters

For the week, S&P 500 banks index .SPXBK tumbles >5%, KBW regional banking index .KRX plunges 7%

On the bright side, payments firm Block XYZ.N soars as investors cheer job cuts and upbeat 2026 profit forecast

And PayPal PYPL.O leaps after report of takeover interest

** Consumer Discretionary .SPLRCD down 0.5%. Home Depot HD.N rises on Tues after qtrly earnings beat, buoyed by resilient demand from professional contractors and lower-cost repairs

Though HD falls on Weds in wake of rival Lowe's LOW.N full-year forecast below estimates and downbeat comments from both drag down homebuilder, housing-related stocks

PHLX Housing index .HGX sheds >2%

** Industrials .SPLRCI tick down 0.1%. Airline stocks fall as oil prices rise after US and Iran push talks into next week

NYSE Arca Airline index .XAL descends ~5%

** Communication Services .SPLRCL up 0.5%. Netflix NFLX.O climbs after it bows out of Warner Bros Discovery WBD.O bidding war, and Paramount Skydance PSKY.O rockets as it emerges the winner

** Materials .SPLRCM add 1.3%. Grains: Poised to reap some big gains?

** Energy .SPNY up 2%. Oil stocks track vault in crude prices as US-Iran nuclear talks extended O/R

** Consumer Staples .SPLRCS up 2.7%. J.M. Smucker SJM.N rises after Jif peanut butter owner's qtrly beat, deal with activist investor Elliott Investment Management

** Utilities .SPLRCU power up 2.9%. Constellation Energy CEG.O rises after Q4 profit beat on back of rising electricity demand from data centers

NextEra Energy NEE.N up after $2 bln mandatory convertible sale

** Meanwhile, AAII bears hit 3-month high, and what Carson Group thinks a US strike on Iran could mean for markets

** SPX performance YTD:

Energy
24.4%
Materials
17.6%
Staples
16.0%
Industrials
14.0%
Utils
11.3%
Real Estate
9.1%
Healthcare
3.2%
SPX
0.5%
Comm Svcs
0.3%
Discretionary
-3.8%
Tech
-5.6%
Financials
-6.3%

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper@tr.com ; terence.gabriel@tr.com))