U.S. stocks weekly: Roller coaster
Repeats from Friday with no changes to text. Updates chart
** S&P 500 .SPX gains 1.3% in choppy trade as interest rate bets fluctuate .N
** Benchmark U.S. 10-Year Treasury yields US10YT=RR on Weds hit two-month low as job gains miss expectations, but then jump on Fri after hot NFP report
** This as SPX and the Nasdaq .IXIC scale fresh record highs
** In the end, just a minority of sectors elevate; Tech climbs most, while Energy and rate-sensitive plays descend
** Tech .SPLRCT lifts 3.8%. Hewlett Packard Enterprise HPE.N top SPX performer, up 13.5%, after qtrly rev forecast tops expectations, helped by robust AI server demand
Chipmaker Nvidia NVDA.O crosses $3 trln market cap milestone, briefly dethrones Apple AAPL.O as second most valuable firm. NVDA leaps 10%, AAPL ascends >2% on the week
Semiconductor index .SOX rises >3%
** Consumer Staples .SPLRCS edge up 0.5%. Though Dollar Tree DLTR.O drops on dull profit forecast, as it explores potential sale of struggling Family Dollar banner
** Energy .SPNY slides 3.5%. Group declines as supply worries weigh on crude prices O/R
** Meanwhile, GameStop GME.N pops on Thurs after 'Roaring Kitty' schedules YouTube livestream. However, GME slumps in volatile trade on Fri after video game retailer announces surprise qtrly results, additional equity raise plans, and stock influencer Keith Gill fails to spark fresh enthusiasm in first livestream in three years
** SPX performance YTD:
SP 500 2024 YTD THROUGH JUNE 7 https://tmsnrt.rs/3KyKNmr
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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