July 2, 2018 / 11:05 AM / 10 months ago

RPT-BUZZ-U.S. stocks weekly: Half-hearted

(Repeats from Friday, updates chart, no changes to text)

** S&P 500 off second straight week, loses 1.3 pct; closes first half of 2018 clinging to a gain of just 1.7 pct

** Indeed, with Dow’s 200-DMA fresh out of tricks , the market’s internal injuries may lead to more pain

** However, SPX still trying to bank on a bullish triangle

** Most sectors saddened; tech, consumer disc and financials falter, while utilities, telecom and energy rally

** Tech retreats 2.2 pct. Akamai biggest sector loser down ~9 pct as content network provider trims forecast. And as chips get crunched, Nasdaq can get chopped. SOX slides >4 pct

** Cons Disc falls 1.9 pct. Worst group performer Carnival sinks >9 pct as profits wash away. Though Nike swooshes to top of Dow for 2018 after reporting N.Amer sales rebound

** Financials lose 1.9 pct. Group snaps record 13-session losing streak as banks rise on healthy stress test results

** Healthcare down 1.8 pct. Pharma supply chain swallows bitter pill as Amazon.com enters scene

** Industrials down 1.3 pct. UPS and FedEx slide as AMZN looks to solve last mile delivery challenge. Dow Transports enters oversold amid 6-day losing streak

** Consumer Staples dip 0.2 pct. Worst SPX stock Walgreens Boots Alliance drops ~11 pct even as co downplays AMZN pharmacy entry

** Energy up 1 pct. Sector surges ~13 pct for the qtr, best such showing since 2011 as U.S crude hits highest since Nov 2014. Hess leaps to 2-yr high

** Utilities rise 2.2 pct. Though Utilities ETF energetic action may soon dampen

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

** Meanwhile, U.S. co buybacks surged in Q1, beat 2007’s record

** And on IPO front, BJ’s Wholesale Club pops after 7-yr hiatus from public markets amid a flurry of deals

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