US stocks weekly: Bounce-back
02/04/2026 21:35
** S&P 500 .SPX snaps 5-week losing streak, rallies 3.4% in rocky trading as investors assess Iran war timeline .N ** Dow .DJI lifts 3%, Nasdaq Composite .IXIC ascends 4.4% ** Dow had fallen into correction territory, but Fibonacci support sparks a reversal ** And a Nasdaq breadth measure posts a rare up day on Weds, and even though Trump address rattled stock futures early Thurs, IXIC fights back from opening weakness and closes slightly green on the day ** From growth to defense: Traders eye how 2026's market turmoil is reshuffling the factor race ** U.S. 10-Year Treasury yield US10YT=RR retreats nearly 15 basis points, now back to 4.30% area. Bonds recover as markets digest Trump's speech, Iran's Strait of Hormuz news US/ ** Nearly every sector rebounds: Communication Services and Technology revitalize, while just Energy wilts ** Communication Services .SPLRCL vaults 6.4%. Morgan Stanley names Facebook parent Meta Platforms META.O 'top pick', citing attractive valuation and cost savings from potential workforce reductions. META notches ~9% weekly gain ** Tech .SPLRCT surges 4.6%. Intel INTC.O climbs as chipmaker plans to buy back Apollo Global Management's APO.N 49% stake in Ireland plant for $14 bln Semiconductor index .SOX jumps 5% ** Consumer Discretionary .SPLRCD up 2.7%. Though Nike NKE.N slides as China lag, inventory weigh on forecast, results And Tesla TSLA.O skids on Thurs after downbeat Q1 deliveries as tax credit expiry weighs ** Healthcare .SPXHC gains 2.4%. Eli Lilly LLY.N rises after US FDA approves its weight-loss pill, Foundayo, sets up next battle with rival Novo Nordisk NOVOb.CO ** Consumer Staples .SPLRCS edge up 0.7%. However, food distributor Sysco SYY.N drops on $29 bln deal for Jetro Restaurant Depot McCormick MKC.N falls after striking merger deal with Unilever ULVR.L to create $65 bln food giant ** Energy .SPNY fades 5.3%. Group declines as crude prices weaken on hopes Mideast war could be winding down, then rises after Trump says attacks on Iran will continue O/R ** Meanwhile, individual investors remain deeply pessimistic on stocks, and Elon Musk's SpaceX files for IPO, setting the stage for potentially the largest new listing on record ** SPX performance YTD:
| Energy | 32.5% |
| Materials | 10.6% |
| Utils | 8.6% |
| Staples | 7.1% |
| Industrials | 5.6% |
| Real Estate | 3.8% |
| SPX | -3.8% |
| Healthcare | -5.2% |
| Comm Svcs | -5.7% |
| Tech | -7.6% |
| Financials | -9.5% |
| Discretionary | -9.9% |