June 22, 2020 / 10:09 AM / 11 days ago

RPT-BUZZ-U.S. stocks weekly: Queasy

 (Repeats from Friday, no changes to text. Adds chart)
    ** S&P 500 gains 1.9% in volatile week of trading.
Fed stimulus and economic recovery
optimism outweigh rekindled fears of COVID-19 spikes
    ** Indeed, with its opening slide to kick off the week and
then subsequent snap back, the S&P 500 certainly was feeling the
g-force
    ** The question is though, does the Nasdaq have
enough thrust to avoid another bust?
    ** Most sectors upswing: Healthcare and tech ride highest,
while energy and utilities slump
    ** Healthcare jumps 3.1%. Eli Lilly rises
~11% as breast cancer drug meets main goal of late-stage study
. Nasdaq biotech index surges ~8%
    ** Tech rallies 2.8%. Apple slips Fri
after iPhone maker says re-closing some U.S. stores as virus
cases rise, though stock still gains >3% on the
week
    ** Consumer discretionary up 2.3%. Retailers gain
on resurgence in May sales. Though cruise operators
rocked again as Carnival Corp drops on downbeat
forecast, dismal Q2 results and Norwegian Cruise
 falls after extending voyage suspensions
    ** Meanwhile, S&P Jun quarterly rebalancing moves ahead

    ** SPX performance YTD:    
 
 
 

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