U.S. stocks weekly: High on AI

Vizio Holding

26/02/2024 11:00

(Repeats from Friday with no changes to text. Updates chart)
    ** S&P 500  .SPX  surges 1.7% as blockbuster report from
AI-darling Nvidia monopolizes the headlines  .N 
    ** SPX, and the Dow  .DJI  hit record highs, while Nasdaq
Composite  .IXIC  just a hop, skip and a jump from new highs
    ** Indeed, recent SPX wobble, yet to lead to a bigger
stumble
    ** Every sector advances as Consumer Staples and Tech ascend
most; Growth  .IGX  beating Value  .IVX  this year, but traders
eye rising yields
    ** Consumer Staples  .SPLRCS  vault 2.1%. Walmart  WMT.N 
climbs on strong sales view, to buy smart-TV maker Vizio
 VZIO.N  for $2.3 bln
    ** Tech  .SPLRCT  leaps 2%. Nvidia  NVDA.O  soars after
blowout forecast on towering demand for its AI chips, and
clinches $2 trillion in market value for the first time
     Semiconductor index  .SOX , looks smart after NVDA report,
rises ~2% to all-time high
    On the flip side, Palo Alto Networks  PANW.O  tumbles 23%
after cybersecurity firm's glum billings outlook
    ** Financials  .SPSY  up 1.6%. Discover Financial  DFS.N 
jumps on Capital One's  COF.N  $35 bln buyout plan
    ** Consumer Discretionary  .SPLRCD  rises 1.5%. Amazon.com
 AMZN.O  up as co set to join the Dow Jones Industrial Average
    Home Depot  HD.N  projects FY24 sales below consensus.
Still, HD notches nearly 3% weekly gain
    ** Healthcare  .SPXHC  up 1.5%. Moderna  MRNA.O  jumps on
surprise profit, sets out commercial roadmap for RSV vaccine
    ** Communication Services  .SPLRCL  up 1.5%. Though AT&T
 T.N  drops as cellular outage disrupts U.S. services
    ** Meanwhile, can the magnificence continue?
    ** SPX performance YTD:    

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SP 500 2024 YTD THROUGH FEBRUARY 23    https://tmsnrt.rs/3wwr5nz
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 (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))