US stocks weekly: Blast off

Tesla

Mon 11:00

Repeats from Friday with no chnages to text. Updates graphic
** S&P 500 .SPX rises 0.6% in volatile trading as SpaceX's SPCX.O historic debut commands attention .N
** Dow .DJI and Nasdaq Composite .IXIC both lift 0.7%
** S&P 500 defends key line, Nasdaq holds 50-DMA as bulls push for recovery
** Nearly every sector elevates: Materials and Consumer Staples operate at maximum thrust, while just Energy and Communication Services descend

    ** Consumer Staples .SPLRCS ascend 2.6%. J.M. Smucker SJM.N vaults after packaged food maker's quarterly, annual profit forecast beat 

    ** Industrials .SPLRCI up 1.1%. Trucking firms like FedEx Freight FDXF.N, J.B. Hunt JBHT.O slip on Weds after Amazon AMZN.O launches less-than-truckload (LTL) freight offering
** Tech .SPLRCT up 0.5%. Intel INTC.O jumps after report Alphabet's GOOGL.O Google taps it to make three million in-house chips, while Nvidia NVDA.O evaluates INTC's technology
Semiconductor index .SOX surges 9.4%
Apple AAPL.O unveils long-delayed overhaul of Siri to close AI gap with tech rivals, but stock drops as Wall Street analysts say catchup will be a marathon, not a sprint
Oracle ORCL.N slides on hefty 2027 AI spending, debt and equity raise plans
Super Micro SMCI.O tumbles on $7 bln targeted equity raise to meet surging AI server demand
Energy .SPNY falls 0.4%. Group tracks declining oil prices after President Trump cancels planned strikes against Iran O/R

    ** Communication Services .SPLRCL sink 1.9%. Satellite communications co EchoStar SATS.O, owner of SpaceX shares, slides after they begin trading
** Meanwhile, Elon Musk's SpaceX soars after record $75 billion IPO
** SPX performance YTD:

SP 500 2026 YTD THROUGH JUNE 12 https://fingfx.thomsonreuters.com/gfx/buzz/gdpzerakxvw/SP%20500%202026%20YTD%20through%20June%2012.jpg
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
((lance.tupper@tr.com ; terence.gabriel@tr.com))