RPT-BUZZ-U.S. stocks weekly: New highs
Reuters · 01/29 11:00
RPT-BUZZ-U.S. stocks weekly: New highs

Repeats from Friday with changes to text. Updates chart

** S&P 500 .SPX rises 3rd straight week, gains 1.1% as qtrly results roll in .N

** SPX kicked off the week poised to build on its high, and through Thurs, it scored 6-straight daily gains, 5-straight record closes

** This with momentum MTUM.K taking the early lead this year among investment style factors

** But traders wonder, when it comes to market breadth, is it catching its breath, or out of breath?

** Most sectors feel the cheer: Energy and Communication Services most buoyant, while Consumer Discretionary most crestfallen

** Energy .SPNY surges 5.1%. Halliburton HAL.N best sector performer, up >10%, after Q4 profit beat, and group rises after bigger-than-expected crude withdrawal O/R

** Communication Services .SPLRCL climb 4.5%. Netflix NFLX.O jumps after posting record Q4 subscriber adds. NFLX 18% weekly gain

** Financials .SPSY advance 1.9%. AmEx AXP.N hits record high after upbeat 2024 earnings forecast on resilient credit card spending

** Tech .SPLRCT lifts 0.9%. IBM IBM.N soars to over 10-yr high on rosy AI outlook, while Microsoft MSFT.O hits $3 trln market cap for first time

In contrast, chipmaker Intel INTC.O slumps Fri after bleak revenue forecast

Semiconductor index .SOX edges down 0.8%

** Consumer Staples .SPLRCS up 0.8%. But Archer-Daniels-Midland ADM.N places CFO on leave pending accounting practices investigation, shares fall ~24%

** Healthcare .SPXHC dips 0.2%. Health insurer Humana HUM.N sinks on 2025 profit hit warning, citing "unprecedented" increase in medical costs

** Consumer Discretionary .SPLRCD drops 1.4%. Tesla TSLA.O sputters 14% after Musk warns of slow sales growth. EV market may be skidding, but BofA says keep your eyes on the road

** Meanwhile, grains: ground up and spit out on the charts

** SPX performance YTD:

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)