July 6, 2018 / 8:18 PM / in a year

BUZZ-U.S. stocks weekly: Trump card

** S&P 500 snaps 2-week losing streak, gains 1.5 pct as strong jobs growth trumps trade angst

** This just as Dow Futures needed to dig in , and the DJ Transports needed to stand and deliver

** That said, SPX still hemmed in, and its tires still show wear on the longer-term charts

** Almost every sector wins a hand; healthcare, tech and defensives all-in, while just energy lost in the shuffle

** Healthcare surges 3.1 pct. Top S&P stock Biogen soars 23 pct as its Alzheimer’s drug triumphs in mid-stage trial. Nasdaq Biotech index jumps 5.9 pct, enjoys best week of 2018 and biggest gain since Sept

** Tech gains 2.3 pct. Micron staggers, then rebounds on chipmaker’s estimate that blocked China sales account for just 1 pct of revenue

** Consumer Staples, Real Estate, Telecom and Utilities advance 1.4-2.4 pct. Indeed, defensive plays try to get going on offense

** Financials up 0.3 pct. Financial Select Sector SPDR Fund has been flat on its face, but Fri’s market bounce enough to turn it positive for the week

** Energy dips 0.3 pct. Group rises as WTI crude futures surpass $75, then declines as higher Saudi production and U.S./China trade tensions offset oil supply disruptions

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

** Meanwhile, though not a S&P component, Tesla skids ~10 pct as Model 3 vehicle production pace draws skepticism

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