** S&P 500 .SPX ends week down 0.2% as trade war fears help sack Wall Street on Fri .N
** Dow .DJI retreats 0.5%, snapping 3-week winning run, and Nasdaq composite .IXIC slips 0.5%
** For second week in a row, traders faced a Monday morning rout, but SPX finds support, rallies
** This, as the Nasdaq composite see lots of chop, as tries to avoid a bigger drop, amid an internal struggle
** U.S. 10-Year Treasury yield US10YT=RR falls to lowest level since mid-Dec, before clawing back to 4.50% area; this as it flirts with the Clouds
** In the end, however, a majority of sectors make modest gains; Consumer Staples and Real Estate hit paydirt, while Communication Services and Consumer Discretionary get blitzed
** Consumer Staples .SPLRCS rally 1.6%. Philip Morris PM.N rises to record high after forecasting annual profit above estimates
** Energy .SPNY advances 1%. Group rises as Trump set to reimpose 'maximum pressure' on Iran
** Tech .SPLRCT tacks on 0.8%. Palantir PLTR.O surges 34% as AI drives strong annual, Q1 rev forecasts
Though Apple AAPL.O supplier Skyworks SWKS.O plummets as competition dents mobile segment outlook, SWKS sheds 26%. Advanced Micro AMD.O hits 15-month low after AI chip revenue disappoints
Semiconductor index .SOX edges lower by 0.1%
** Healthcare .SPXHC off 0.3%. Merck MRK.N falls on dour 2025 outlook as it pauses Gardasil vaccine shipments to China
** Materials .SPLRCM down 0.6%. Agrichemicals producer FMC FMC.N sinks 38% as Q1 rev forecast below consensus due to weak demand
** Communication Services .SPLRCL fades 2.1%. Google parent Alphabet GOOGL.O tumbles as cloud growth concerns, heavy capex unnerve investors
** Consumer Discretionary .SPLRCD thrown for a 3.6% loss. Amazon.com AMZN.O down on Fri as cloud growth, sales forecast miss estimates
** Meanwhile, individual investors most pessimistic since early-November 2023, and this isn't just any given Sunday, it's Super Bowl Sunday!
** SPX performance YTD:
Financials | 7.0% |
Comm Svcs | 6.7% |
Healthcare | 6.3% |
Materials | 4.9% |
Industrials | 4.2% |
Staples | 3.5% |
Utils | 3.1% |
Real Estate | 3.0% |
Energy | 3.0% |
SPX | 2.5% |
Discretionary | 0.7% |
Tech | -2.1% |
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
((lance.tupper@tr.com ; terence.gabriel@tr.com))
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