BUZZ-U.S. stocks weekly: Streaking in September

Reuters · 09/27 20:47
BUZZ-U.S. stocks weekly: Streaking in September

** S&P 500 .SPX extends winning streak to three weeks, adds 0.6% amid tame inflation data and China stimulus boost .N

** SPX on pace for monthly gain, take that September!

** Dow .DJI and Nasdaq .IXIC also up three consecutive weeks, though the latter still lined up at the velvet rope

** This as benchmark Treasury yield perks up, but can't hold 3-week highs after PCE

** Most sectors fleet of foot: Materials sprint to front of the pack, while Energy and Healthcare stumble

** Materials .SPLRCM surge 3.4%. Copper miners rise as metal hits near 10-week high on China stimulus measures, and country's fiscal spending pledge. Freeport-McMoRan FCX.N vaults 15%. Gold shines bright, but faces big barrier on the charts

** Consumer Discretionary .SPLRCD lifts 1.8%. Casino operators jump on China's stimulus plans. Wynn Resorts WYNN.O and Las Vegas Sands LVS.N top SPX stocks, both up ~22% on week

** Industrials .SPLRCI advance 1.6%. Airlines soar after Southwest Airlines LUV.N lifts Q3 rev forecast

** Tech .SPLRCT rises 1.1%. Chipmakers rally after Micron's MU.O forecast points to steady AI demand. MU notches 18% weekly gain

In contrast, AI server maker Super Micro SMCI.O drops after reported DOJ probe

Semiconductor index .SOX up >4%

** Consumer Staples .SPLRCS tick up 0.1%. Costco COST.O falls after qtrly rev miss, hurt by cautious consumer, lower gas prices

** Financials .SPSY fade 0.5%. Visa V.N trips on report DOJ to file lawsuit over illegal debit card monopoly

** Energy .SPNY down 0.8%. Sector sags on report Saudi Arabia may lift oil output O/R

Crude oil futures: Not looking so well on the charts

** Healthcare .SPXHC retreats 1.1%. Regeneron REGN.O falls as analyst downgrades after federal judge said co can't immediately block U.S. sales of rival Amgen's AMGN.O biosimilar version of eye-care drug Eylea

** Meanwhile, individual Investors pitch tents in the neutral camp

** SPX performance YTD:



Tech

28.9%

Utils

26.9%

Comm Svcs

26.9%

SPX

20.3%

Financials

20.0%

Industrials

18.3%

Staples

16.4%

Discretionary

13.5%

Materials

13.3%

Healthcare

12.3%

Real Estate

10.6%

Energy

4.8%



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

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terence.gabriel.tr.com@reuters.net
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