** S&P 500 .SPX ascends second straight week, adds 1.6% on revived artificial intelligence optimism, expected interest-rate cuts .N

** Dow .DJI gains 1%, Nasdaq Composite .IXIC lifts 2%

** All three major indexes hit fresh peaks; Nasdaq notches a record closing high in every session

** U.S. 10-Year Treasury yield US10YT=RR briefly dips below 4% after inflation, jobs data reinforced views on Fed easing, then finishes around 4.07% for fourth consecutive week of drops US/

** Nearly every sector climbs: Technology and Utilities elevate most, while just Consumer Staples dips slightly

** Tech .SPLRCT rallies 3.1%. Oracle ORCL.N soars to record high on AI cloud gains, and lifts chipmakers. ORCL jumps nearly 26%

Semiconductor index .SOX leaps ~4%, scores all-time high

On the flip side, chip design software provider Synopsys SNPS.O slumps 29% after fiscal Q3 rev results disappoint

Apple AAPL.O slips after co largely maintains prices for new iPhones, other devices

** Utilities .SPLRCU surge 2.4%. Data center power suppliers including Vistra VST.N and Constellation Energy CEG.O rise on Oracle boost

** Communication Services .SPLRCL up 0.8%. Warner Bros Discovery WBD.O rockets 56% on the week, Paramount Skydance PSKY.O vaults after reports co is preparing a bid to buy WBD

Conversely, Fox, FOXA.O, News Corp NWSA.O shares decline after Murdoch family's succession deal.

** Healthcare .SPXHC ticks up 0.1%. Vaccine makers Moderna MRNA.O and Pfizer PFE.N slide on Fri after report Trump officials to link child deaths to COVID shots

** Meanwhile, Fintech Klarna KLAR.N pops after IPO prices above range in busiest week in over four years for new listings

** SPX performance YTD:

(Lance Tupper is a Reuters market analysts. The views expressed are his own)

((lance.tupper@tr.com))