US stocks weekly: Running the table

United Rentals

21/01/2025 11:00

(Repeats from Friday, Jan 17, with no changes to text. Updates
chart)
** S&P 500  .SPX  snaps two-week losing streak, rallies 2.9%
amid easing inflation jitters, strong start to earnings season
 .N 
    ** Dow  .DJI  advances 3.7%, Nasdaq Composite  .IXIC 
ascends 2.4%
    ** U.S. 10-Year Treasury yield  US10YT=RR  pulls back to
around 4.6%
** Indeed, SPX finds support, vaults to the upside, ends down
less than 1.7% from its record highs
** This as the broader market, which has been on the back foot,
finally catches a break
    ** Every sector has a winning week; Energy, Financials and
Materials most decisive
** Energy  .SPNY  surges 6.1%. Oilfield services firm SLB
 SLB.N , previously called Schlumberger, rises on Q4 profit
beat, buybacks and dividend boost. Crude oil futures  CLc1 :
About to make a big leap, or come up lame?
** Financials  .SPSY  swell by 6.1%. Big banks jump as
investment banking powers profits, in stellar Q4
    For the week, S&P 500 banks index  .SPXBK  pops 7.4%, ends
Fri at record closing high, while KBW regional banking index
 .KRX  scores 8% gain
And BlackRock  BLK.N  gains as assets hit record $11.6 trillion
in Q4
** Materials  .SPLRCM  climb 6%. Specialty chemicals firm
Celanese  CE.N  gains on BofA double upgrade
** Industrials  .SPLRCI  up 4.8%. United Rentals  URI.N  rises
15% on deal to acquire H&E Equipment Services  HEES.O 
** Tech  .SPLRCT  up 1.6%. Chip-equipment firms Applied
Materials  AMAT.O  and Lam Research  LRCX.O  advance after
analyst upgrades
    Semiconductor index  .SOX  up >5%
** Communication Services  .SPLRCL  up 1.3%. Instagram-owner
Meta Platforms  META.O  edges into positive territory Fri after
US Supreme Court rules against Tiktok
** Healthcare  .SPXHC  ticks up 0.3%. Though Moderna  MRNA.O 
slides 19% after 2025 sales forecast cut, hurt by slow RSV shot
launch and weak COVID-19 vaccines demand
** Meanwhile, individual Investor bulls flee, bears make
themselves known
    ** SPX performance YTD:

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SP 500 2025 YTD THROUGH JANUARY 17    https://fingfx.thomsonreuters.com/gfx/buzz/gkplbygaopb/SP%20500%202025%20YTD%20through%20Jan%2017.jpg
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(Lance Tupper and Terence Gabriel are Reuters market analysts.
The views expressed are their own)
((lance.tupper@tr.com
terence.gabriel@tr.com))