RPT-BUZZ-US Weekly Stocks: Back on the Horse

(Repeat from Friday, no change to the text. Table of updates)

** S&P 500 bounces, rises 2.8%, to new highs, as concerns over sudden Federal Reserve decline ease

** Indeed, the SPX seemed ripe to soon rumble, buzz, or stumble

** And as the end of June approaches, the SPDR S&P 500 500 ETF could overflow

** The Nasdaq is reaching new heights as well, although recently it was the generals in charge as the troops returned to camp

** And the NYSE FANG + TM Index was within range, but ends the week at a 4 month high

** Each sector is on the rise: energy and finance in the lead; with this, growth experiences its first decline relative to value in 3 weeks

** Energy recovered by 6.7%. Oil inventories rise as crude peaks over 2 years

** Financials gain 5.3%. Banks rebound after the Fed’s hawkish stance on monetary policy fades. Then cheer for the return of dividends, share buybacks after stress test results. S&P 500 Banks index gains 6.5%

** Consumer discretionary up 2.6%. Amazon.com drops record following Prime Day sales, but Nike has an Olympic week, up about 20%, after forecasting sales for the year ahead of Wall Street estimates

** Tech up 2.4%. After Apple, Microsoft Becomes Second Company To Cross $ 2 Trillion Market Cap

** Materials up 2.1%. Miners are winning after Powell quashes rate hike rhetoric and after the U.S. infrastructure deal gives copper a boost. Freeport-McMoRan rallies 6.5%

** Meanwhile, the market is teeming with IPOs

** SPX performance since the beginning of the year:

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