US stocks weekly: Unease

Verve Therapeutics

20/06/2025 21:49

** S&P 500 .SPX dips 0.2% as President Trump's Middle East decision, inflation concerns keep investors on edge .N

** Dow .DJI up marginally, while Nasdaq Composite .IXIC ticks up 0.2%

** U.S. 10-Year Treasury yield US10YT=RR declines on Fri amid safe haven demand for bonds, and at around 4.38%, down 4 basis points from a week ago US/

** Most sectors flustered: Healthcare and Communication Services irritated, while Energy relatively composed

** Healthcare .SPXHC sinks 2.7%. Eli Lilly LLY.N down after striking deal to acquire gene-editing startup Verve Therapeutics VERV.O in cardiac care push

Some drugmakers such as Abbvie ABBV.N and Pfizer PFE.N drop after report RFK Jr. plans crackdown on pharma ads

** Communication Services .SPLRCL down 1.7%. Alphabet GOOGL.O falls on Fri after Turkish authorities launch probe into Google's AI-powered ad tools

** Consumer Staples .SPLRCS off 0.3%. But Kroger KR.N rises after annual sales forecast raise as cautious consumers buy cheaper groceries

** Financials .SPSY climb 0.8%. Coinbase COIN.O soars as crypto exchange seeks SEC approval to offer "tokenized" stock trading, and as Senate clears path for stablecoin regulation. COIN registers 27% weekly gain

For the week, S&P 500 banks index .SPXBK climbs 3.4%, KBW regional banking index .KRX ekes out 0.1% gain

** Tech .SPLRCT tacks on 0.9%. Jabil JBL.N hits record high after Apple AAPL.O supplier lifts 2025 forecasts, betting on strong demand for data centers

Semiconductor index .SOX up nearly 2%

Though Enphase ENPH.O and First Solar FSLR.O dim after U.S. Senate budget bill proposal cuts solar incentives. ENPH and FSLR retreat 21% and 17%, respectively, on the week

** Energy .SPNY advances 1.1%. Group rides oil price gains higher as Iran-Israel conflict escalates, then crude settles lower on Fri as new U.S. sanctions on Iran feed hopes of a negotiated agreement

** Meanwhile, as investors grapple with uncertainties including trade tariffs and the U.S. budget, a strategist believes there's 2026 at the end of the tunnel

This as bearish sentiment increases: AAII survey

** SPX performance YTD:

Industrials
7.8%
Utils
5.9%
Staples
4.3%
Financials
3.9%
Comm Svcs
3.8%
Energy
3.3%
Materials
2.5%
Tech
1.9%
Real Estate
1.9%
SPX
1.5%
Healthcare
-4.0%
Discretionary
-7.4%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com))