Reuters
2024.02.12 11:00
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BUZZ-U.S. stocks weekly: High 5's

S&P 500 ends above 5,000 mark for the first time, while tech and healthcare sectors surge. Disney soars after dividend hike and investment in "Fortnite" maker Epic Games. PayPal falls after flat profit growth forecast. FMC slumps after weak Q1 outlook. Kenvue's annual profit forecast below consensus.

(Repeats from Friday with no changes to text. Updates chart)

** S&P 500 (.SPX) up 5 straight weeks, adds 1.4% and ends above 5,000 mark for the first time (.N)

** Benchmark U.S. 10-year Treasury yield (US10YT=RR) reached 4.195%, about 2-week high, though still faces hurdles

** SPX takes on the big 5-0-0-0 barrier, but is it flying on fumes?

** And when it comes to advance/decline lines, traders are watching the tails of two tapes

** Most sectors rejoice: Tech exults most, while bond proxies sulk

** Tech (.SPLRCT) surges 3.2%. Solar energy firm Enphase (ENPH.O) rises on improved near-term demand expectations. ENPH up 20%

Nvidia (NVDA.O) market cap on verge of exceeding Amazon.com (AMZN.O) . NVDA and Sam Altman lift chip index to record highs

Semiconductor index (.SOX) jumps >5% as the group still rips

** Consumer Discretionary (.SPLRCD) rises 1.5%. Chipotle (CMG.N) hits record high on strong burrito, rice bowls demand

Though McDonald’s (MCD.N) edges down after sales miss as Middle East conflict weighs

** Healthcare (.SPXHC) up 1.4%. Eli Lilly (LLY.N) hits fresh all-time high as obesity drug sales take off

** Communication Services (.SPLRCL) up 1%. Disney (DIS.N) soars nearly 12% after 50% dividend hike, $3 bln buyback, investment in “Fortnite” maker Epic Games

** Financials (.SPSY) tick up 0.2%. PayPal (PYPL.O) falls after flat FY24 profit growth forecast

** Materials (.SPLRCM) flat. FMC (FMC.N) slumps 16% after agricultural chemical firm’s weak Q1 outlook

** Consumer Staples (.SPLRCS) shed 1.3%. Band-Aid, Tylenol maker Kenvue (KVUE.N) down as annual profit forecast below consensus

** Meanwhile, AAII bulls stand like statues, while investors are still tapping their cash stash

** SPX performance YTD:

SP 500 2024 YTD THROUGH FEBRUARY 9

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