U.S. stocks weekly: Tightrope

Paramount Global

26/03/2021 20:39

** S&P 500  .SPX  rallies on strong recovery hopes, finishes
up 1.6%. Quarter-end rebalancing leads to choppy trade
 urn:newsml:reuters.com:*:nL1N2LN2WF
    ** In any event, for the Dow  .DJI , out of the blue, a red
line strikes  urn:newsml:reuters.com:*:nL1N2LK0Y8
    ** This, with the Nasdaq  .IXIC  on less than firm footing
 urn:newsml:reuters.com:*:nL1N2LL170, the SPX showing divergent paths  urn:newsml:reuters.com:*:nL1N2LM102, and
small caps  .RUT  being tossed around  urn:newsml:reuters.com:*:nL1N2LN19J
    ** And for the China Large-cap ETF  FXI.P  a shooting star
can suggest burnout  urn:newsml:reuters.com:*:nL1N2LL1UI
    ** Vast majority of sectors advance: Defensive plays and
energy most stable, while communication services stumble
    ** Energy  .SPNY  leaps 3%. Oil stocks rise on fears Suez
Canal blockage may last weeks  urn:newsml:reuters.com:*:nL4N2LO2Y7
    ** Tech  .SPLRCT  surges 2.5%. Applied Materials  AMAT.O 
best in sector, up 12%, on $7.5 bln share buyback plan
 urn:newsml:reuters.com:*:nL4N2LK432, and Intel's  INTC.O  $20 bln plan to expand
manufacturing lifts chip equipment makers  urn:newsml:reuters.com:*:nL4N2LM328
    ** Materials  .SPLRCM  gain 2.5%. Nucor  NUE.N  hits near
13-yr high after co to build new tube mill in Kentucky
 urn:newsml:reuters.com:*:nL4N2LN48Z, and steel stocks jump ahead of U.S. infrastructure
spending announcement  urn:newsml:reuters.com:*:nL1N2LO1RO. As for precious metals
mining shares  .XAU , there's pressure in the shaft  urn:newsml:reuters.com:*:nL1N2LO11J
    ** Industrials  .SPLRCI  up 2.2%. Kansas City Southern
 KSU.N  jumps on $25 bln buyout deal with Canadian Pacific
Railway  CP.TO 
    ** Consumer Discretionary  .SPLRCD  dips 0.2%.
Travel-related shares slip on renewed virus curbs in Europe
 urn:newsml:reuters.com:*:nL4N2LL44G
    ** Communication Services  .SPLRCL  slumps 1.9%. ViacomCBS
 VIAC.O  plummets 50% as Wall Street analysts turn bearish after
media firm's nearly $3 bln capital raise, and peer Discovery Inc
 DISCA.O  also dives 46% in volatile trade  urn:newsml:reuters.com:*:nL1N2LO27S
    ** Meanwhile, GameStop  GME.N  tumbles, then bounces after
videogame retailer says might cash in on meteoric rise in its
share price to fund e-commerce expansion  urn:newsml:reuters.com:*:nL4N2LN3QH
 urn:newsml:reuters.com:*:nL1N2LN3EA
    ** SPX performance YTD:    
 
 
 (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))