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RPT-BUZZ-U.S. stocks weekly: Crude awakening

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(Repeats from Friday, no changes to text. Adds chart) ** S&P 500 snaps 2-week winning streak, finishes down 1.3%. Historic collapse in U.S. crude futures to sub-zero levels on Mon triggers tumult ** Amid the recent swings, the SPX’s 50-day flirtation remains hot and heavy ** But there may have been a wedge break down, leading to a goodbye kiss ** Though the SPX may still be able to climb like ivy , while the Dow tries to resolve its holding pattern ** Nearly every sector falls: Defensive plays and financials drop most, while, ironically, just energy rises ** Financials fade 3.1%. Big banks decline on lower treasury yields as crude crash drives bond appeal. S&P 500 Banks index loses ~3%. Investment manager Invesco Ltd worst sector performer slumps 14% on weak Q1 results, plunge in performance fees ** Industrials lose 2.5%. United Airlines breaks below stock offering price as carriers sag ** Tech down 0.8%. Intel falls as the new coronavirus clouds H2 visibility, despite short-term bump from PC buying ** Healthcare off 0.5%. Gilead ends down ~5% on report of novel coronavirus drug flop, though rises Fri on expectations of expedited results from another COVID-19 trial ** Consumer discretionary dips 0.2%. But L Brands Inc is biggest SPX loser, plunges 25%, as PE firm Sycamore seeks to terminate deal to buy Victoria’s Secret business ** Communication Services flat. Netflix drops as it warns COVID-19 quarantine boost may prove to be short-lived ** Energy gains 1.7%. Oil and gas stocks bounce back mid-week as crude steadies ** Meanwhile, virus-driven stock offerings rewarding the brave, for now ** SPX sector performance YTD: (Reporting by Lance Tupper and Terence Gabriel)

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