** S&P 500 .SPX rises second consecutive week, adds 1.7%, aided by cooling trade tensions, solid jobs report .N

** Dow .DJI climbs 2.3%, Nasdaq Composite .IXIC lifts 1.6%

** That said, SPX traders tense given trend line, time projection

** On the other hand, bulls see the benchmark index as looking golden again

** And in terms of investing style factors at the halfway mark, momentum MTUM.Z is the frontrunner

** U.S. 10-Year Treasury yield US10YT=RR snaps three straight weeks of declines, rises to around 4.35% after stronger-than-expected June payrolls US/

** Nearly every sector sparkles: Materials, Technology and Financials brightest stars, while just Communication Services is a dud

** Materials .SPLRCM jump 3.7%. Packaging Corp of America PKG.N up on deal to buy Greif's GEF.N containerboard business

** Tech .SPLRCT powers up 2.4%. First Solar FSLR.O soars as analyst sees Vietnam trade deal removing uncertainty, and as U.S. Senate preserves some tax credits in Trump's budget bill

Hewlett Packard Enterprise HPE.N, Juniper Networks JNPR.N rise after U.S. DoJ settles antitrust case

Chipmaker Nvidia NVDA.O reaches fresh high, briefly on track Thurs to become world's most valuable co ever as market value nears $4 trln

Semiconductor index .SOX up nearly 2%

** Financials .SPSY firm 2.4%. Big banks rise after Fed stress test success, clearing path for dividend hikes, share buybacks

For the week, S&P 500 banks index .SPXBK up ~4%, KBW regional banking index .KRX gains >6%

** Healthcare .SPXHC up 1.2%. Moderna MRNA.O rises after co says its flu vaccine superior to rival GSK GSK.L in late-stage study

Though insurer Centene CNC.N tanks after pulling 2025 forecast. CNC plunges 38%

** Consumer Discretionary .SPLRCD edges up 0.8%. Casino operators including Wynn Resorts WYNN.O surge after Macau's June gambling rev rises

Nike NKE.N among apparel/sportswear makers that advance after Trump says U.S. strikes trade deal with Vietnam

Tesla TSLA.O skids on Tues after President Trump calls for review of government subsidies to Elon Musk's companies, then accelerates on Weds as weak Q2 vehicle deliveries viewed better than feared. TSLA sheds nearly 3% on the week

** Communication Services .SPLRCL ticks down 0.2%. Baird lifts Facebook owner Meta META.O price target, notes messaging as key growth driver, but Needham says Meta lacks Scale AI control even after risky investment in startup. META loses >2% for week

** Meanwhile, individual investors most bullish since December, and small caps big break: How Trump's tax tweak could supercharge earnings

** SPX performance YTD:

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

((lance.tupper@tr.com ; terence.gabriel@tr.com))