August 6, 2018 / 12:14 PM / a year ago

RPT-BUZZ-U.S. stocks weekly: Sweet Apple, sour grapes

 (Repeats from Friday, no changes to text. Updates chart.)
    ** Along with Apple's tasty price action, S&P 500
 gains 0.8 pct, rises for a 5th straight week. At the same
time, however, the market is ripe for disappointment amid
simmering trade tensions
    ** Indeed, AAPL tops $1 trln valuation, but
will it be enough to sweeten a souring Nasdaq breadth
    ** This as the DJI also gains for a 5th week,
while bulls and bears wrestle on the SPX charts

    ** Small caps try to bulk up again, but stock
correlations may struggle to fall much further
    ** In the end, most sectors finish up; defensives prove
delicious, while energy and industrials, a bit rotten. Value's
attempt to perk up vs growth proving short-lived
    ** Healthcare gains 2.1 pct. Group hits 6-month
high. Pfizer provides big boost on earnings
, and Illumina hits record high on its
profit beat
    ** Staples rally 1.8 pct. Sector digs out of the
doldrums as packaged food makers rise on Kraft
Heinz's Q2 beat. And despite reporting
disappointing qtrly sales, Procter & Gamble rallies ~2
    ** Tech up 1.2 pct. AAPL advances ~9 pct as qtrly
results far surpassed Wall St targets.
Action helps NYSE Fang+TM Index show its teeth again

    ** Cons disc up 0.2 pct. Best SPX stock Dish
Networks rallies ~13 pct on its beats.
Though Wynn Resorts, MGM results keep pressure
on casino stocks
    ** Financials lose 0.1 pct. Fed keeps rates on hold
, and then with soft job growth, U.S.
10-Year Treasury Yield can't hold 3 pct.
Nevertheless, S&P Banks Index gains 0.9 pct
    ** Industrials fall 0.2 pct. At first group jumps
on Caterpillar results, hopes for
U.S./China trade talks. But then another salvo
sinks the sector. Boeing down >3 pct
    ** Energy loses 1.8 pct. Oil stocks fall on supply
rise, trade war concerns. Noble Energy off
~7 pct
    ** SPX sector YTD performance through Fri:
    ** Meanwhile, Tesla surges >17 pct, its best rise
in >5 years, as investors embrace cash comments, Musk apology


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