((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto)) (Repeats Friday’s text without changes. Update graphic)
December 16 – ** S&P 500 .SPX breaks three-week streak of gains, ends down 0.6% .N
** The Nasdaq Composite .IXIC exceeds the 20,000 point mark for the first time and achieves its fourth consecutive weekly increase, while the Dow .DJI falls 1.8%, extending its losing streak to three weeks .N * * The 10-year U.S. Treasury yield US10YT=RR rises to around 4.4%, on track for its first rise in four weeks and its highest level since Nov. 22
** Almost all sectors are down: Materials and bonds fall the most, while consumer discretionary and communication services recover ** Materials .SPLRCM falls 2.9%. Steelmakers Nucor NUE.N and Steel Dynamics STLD.O are the sector’s biggest losers after UBS downgraded ratings. NUE and STLD fall 12% and ~11% respectively for the week ** Healthcare sector .SPXHC loses 2.4%. Health insurers are falling due to potential legislation aimed at breaking up pharmacy benefit managers. Cigna CI.N and CVS Health CVS.N both lost ~11% ** Industrials .SPLRCI fell 2.3%. GE Vernova GEV.N down after electrical equipment maker forecast lower 2025 wind power revenue However, Boeing BA.N up 10% for the week after aircraft maker committed $1 billion to help increase 787 jet production** Energy .SPNY fell 2.1%. Exxon Mobil XOM.N forecasts higher spending in 2025; stocks fall ** Consumer staples .SPLRCS fall 0.7%. Costco COST.O gained ground Friday after quarterly sales and profits beat analysts’ forecasts for continued long-term growth. COST still ended the week down 0.3% But Walgreens WBA.O was the best performing sector, up 21%, after the pharmacy chain announced it was in talks to sell itself to the company. Private equity Sycamore Partners, Kroger KR.N rise after U.S. court blocks $25 billion merger with grocer Albertsons ACI.N $7.5 billion Hershey stock buyback HSY.N jumps on Monday after news that Mondelez MDLZ.O is approaching buyout, then HSY gives up some of its earlier gains on Wednesday after news that its main owner, The Hershey Trust, rejected the offer of the Oreo cookie maker Meanwhile, MDLZ is moving forward thanks to a “bolt-on” acquisition strategy, a new buyback plan of 9 billion dollars ** Tech .SPLRCT falls 0.2%. Adobe ADBE.O loses ground after lowering its 25-year revenue forecast due to a slowdown in subscription spending, and Oracle ORCL.N falls after missing results quarterly results due to strong competition in cloud computing Nvidia NVDA.O down after China launches investigation into company for alleged violation of anti-monopoly law On the positive side, Broadcom AVGO.O rises on Wednesday following the announcement of a collaboration with Apple AAPL.O to develop an artificial intelligence chip, then hits a market value of $1 trillion on Friday and sends the index higher chips after optimistic outlook. AVGO records 25% weekly gain
For the week, the semiconductor index .SOX gained 1.8% ** Consumer Discretionary .SPLRCD up 1.4%. Tesla TSLA.O accelerates toward record, extends rally in wake of U.S. presidential election, with EV maker seen as benefiting from Chief Executive Musk’s relationship with Trump ** Communication Services .SPLRCL gains 2.4%. Alphabet
GOOGL.O , Google’s parent company, jumps 8% after showing off new quantum computing chip called Willow Warner Bros Discovery WBD.O jumps on plan to split TV and streaming units ** Meanwhile, Bulls retreat in latest survey of individual investor sentiment, although software maker ServiceTitan TTAN.O soars in spectacular debut in encouraging sign for IPO market
**The performance of the SPX since the beginning of the year:
