RPT-BUZZ-US stocks weekly: Pump the brakes

Reuters
Sep 02
RPT-BUZZ-US stocks weekly: Pump the brakes

Repeats from Friday with no changes to text. Updates chart

** S&P 500 .SPX snaps three-week winning streak, though eases just 0.1% as chipmaker Nvidia takes center stage .N

** Dow .DJI and Nasdaq Composite .IXIC both dip 0.2%

** Indeed, prior week's buy the dip lacked enough zip for SPX to score a higher weekly close

** As for the Nasdaq, traders made their inferences; braced for volatility with Nvidia report

** U.S. 10-Year Treasury yield US10YT=RR now around 4.23%, down for a 2nd week in a row

** Majority of sectors backtrack: Utilities and Consumer Staples retreat most, while Energy accelerates

** Consumer Staples .SPLRCS shed 1.7%. Keurig Dr Pepper KDP.O fizzles 17% on the week as co to buy Dutch coffee firm JDE Peet's JDEP.AS in $18 bln deal

Hormel Foods HRL.N sinks, suffers worst day on record after qtrly profit view below estimates as commodity costs rise

** Industrials .SPLRCI lose 0.8%. Caterpillar CAT.N falls after forecasting bigger 2025 tariff hit

** Tech .SPLRCT ticks down 0.1%. Nvidia NVDA.O slips on Thurs after CEO Jensen Huang says AI spending boom far from over following co's tepid sales forecast, and falls on Fri amid report China's Alibaba BABA.N developed new AI chip to help fill NVDA's void

Dell Technologies DELL.N slides despite upbeat AI server demand outlook

Semiconductor index .SOX declines 1.5%

** Energy .SPNY rises 2.5%. Group gains as U.S. crude inventories drop and on potential impact of new U.S. tariffs on India O/R

** Meanwhile, individual investors embrace caution, if not outright bearishness, and China Large-Cap ETF: Traders tap into trendlines

** SPX performance YTD:

SP 500 2025 YTD THROUGH AUGUST 29 https://fingfx.thomsonreuters.com/gfx/buzz/jnpwbkzravw/SP%20500%202025%20YTD%20through%20Aug%2029.jpg

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

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

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