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U.S. stocks weekly: Birthday bull



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Repeats from Friday with no changes, refiles to adjust format

** S&P 500 .SPX advances fifth straight week, adds 1.1% as earnings season gets underway .N

** This as the bull market hits a birthday, and it still may be young at heart

** Indeed, SPX scores new highs, and has now posted its 45th record closing high so far this year

** Benchmark U.S. 10-year Treasury yield US10YT=RR forges back over 4%, but streak may have it stretched to the upside

** Majority of sectors celebrate: Technology and Industrials party most, while Communication Services and Utilities aren't invited

** Tech .SPLRCT leaps 2.5%. Super Micro SMCI.O rises: AI server maker says shipping over 100,000 GPUs per qtr

Nvidia NVDA.O rally persists; investors eye rate cuts as AI trade fuel

Semiconductor index .SOX up 2.5% for week

** Industrials .SPLRCI strengthen 2.1%. Uber UBER.N jumps as Tesla's TSLA.O 'toothless' robotaxi event eases competition fears

Generac GNRC.N surges as Hurricane Milton barrels toward Florida, makes landfall, knocking out power to millions

** Financials .SPSY vault 1.8%. Banks jump as JPMorgan JPM.N, Wells Fargo WFC.N kick off Q3 results season with profit beats

For the week, S&P 500 banks index .SPXBK up ~5%, KBW regional banking index .KRX up 3.5%

** Healthcare .SPXHC up 1.5%. Pfizer PFE.N gains after activist investor Starboard Value takes $1 bln stake, falls Thurs as former execs distance themselves from Starboard's campaign against co. Still, PFE up 2% on the week

** Materials .SPLRCM up 1%. Air Products and Chemicals APD.N lifts as investor D.E. Shaw pushes for governance overhaul in open letter

** Consumer Staples .SPLRCS edge up 0.3%. PepsiCo PEP.O up after reaffirming profit growth forecasts

** Energy .SPNY slips 0.5%. Energy firms buffeted by US storm, Israel-Iran conflict fears/rumors. Crude futures CLc1 have been heating up, but face some significant chart barriers

** Consumer Discretionary .SPLRCD declines 0.8%. Tesla CEO Musk unveils 'Cybercab' robotax; TSLA falls Fri, sputters 13% on the week

Though Norwegian Cruise Line NCLH.O top sector performer, up ~15%, as Citi upgrades to 'buy' on growth trajectory, cost focus

** Communication Services .SPLRCL drop 1.4%. Alphabet GOOGL.O falls after US DOJ considers breakup of Google

** Meanwhile, as the market steams along, is that an iceberg ahead?

** SPX performance YTD:


SP 500 2024 YTD THROUGH OCTOBER 11 https://tmsnrt.rs/48a1srs

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

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