May 4, 2018 / 8:21 PM / 2 months ago

BUZZ-U.S. stocks weekly: Soggy track

** S&P 500 loses traction, finishes down 0.2 pct for the week

** That said, major averages/futures in cramped stalls , though also proving to be artful dodgers

** Indeed, SPX still in a holding pattern. This, while Nasdaq Composite is carrying some internal baggage

** Nevertheless, small caps try to emerge from big brother’s shadow

** Most sectors lag: telecom and healthcare stumble, while tech captures the roses

** Telecom spills 4.6 pct. Verizon, AT&T stagger while T-Mobile and Sprint plead their merger case to regulators

** Healthcare trips 3 pct. Gilead slides 11 pct as profit misses, competition intensifies. Cardinal Health worst in sector down ~20 pct on Cordis woes, falling generic drug prices

** Financials drop 1.7 pct. Insurers dive after weak profit reports by Unum Group and AIG

** Tech gallops 3.2 pct higher. Apple streaks to record high. This as Buffett takes a bigger bite and iPhone sales show resilience . Apple supplier Qorvo best in group up 18 pct on upbeat qtr

** SPX sector performance over past 12 mths: reut.rs/2IhfuOc

** Meanwhile, Tesla shares, bonds fall after brusque Musk bites hand of Wall Street , then admits snub “foolish” but defends his behavior

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