June 14, 2019 / 8:22 PM / 4 months ago

BUZZ-U.S. stocks weekly: On edge

    ** S&P 500 up for second straight week, but adds just
0.5%. Trade tensions and Gulf tanker attacks
 weigh
    ** At first, the DJI was rolling sixes,
and the SPX was streaking higher
    ** However, the SPX hit a wall, turned tipsy.
This with the DJI seeing double
    ** Most sectors advance: Consumer discretionary and
communication services lead, while energy and industrials slip
most 
    ** Consumer Discretionary gains 2.4%. Chipotle
 heats up after U.S. abandons plan to impose tariffs on
Mexico. Analyst favors restaurants with franchise
growth model, says fast food momentum under appreciated
. And casino operators rally as an analyst sees
gaming revenue growth on improving Chinese macro economy

    ** Communication Services up 1.4%. Though Facebook
 drops Weds after report on Mark Zuckerberg's connection
to potentially problematic privacy practices
    ** Defensive groups: Real Estate, Consumer Staples
 and Utilities up 0.5%-1.2%. That said,
defensives may not exactly be a fortified position.
How much offense is left? 
    ** Materials up 0.5%. Gold miners ETF
rallies ~2%, and may be tracking gold's triangle

    ** Tech edges down 0.2%. Broadcom's $2
bln warning blaming U.S.-China trade conflict pressures chip
stocks, Huawei suppliers. Chip index falls
1.6%
    ** Industrials down 0.4%. United Technologies
 and Raytheon both fall ~5% as investors digest
$121 bln merger and President Trump says deal may
hurt competition. On the radar at Paris Air Show:
737 MAX, merger fever
    ** Energy declines 0.5%. That said, group gyrates
given surprise rise in U.S. inventories, demand concerns
, but then Gulf tanker attacks boost oil prices

    ** Meanwhile, Chewy Inc rockets in debut Fri
, caps a week of sensational IPOs
    ** SPX sector performance YTD through Thurs: 
 
 
 
    
  
0 : 0
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