** S&P 500 .SPX ticks down 0.4% as earnings season kick-off and geopolitics weigh .N

** Dow .DJI inches lower by 0.3% while Nasdaq Composite .IXIC dips 0.7%

** In any event, cooling correlations have some traders sweating

** Though, small caps .RUT have been looking pretty fair, especially in the magic mirror

** U.S. 10-Year Treasury yield US10YT=RR rises to 4.20% area, and at about 4.23%, is on track for its highest close since early Sept

** In the end, a majority of sectors heat up: Real Estate and Consumer Staples ablaze, while Financials most quenched

** Real estate .SPLRCR advances 4.1%. JP Morgan lowers PT on American Tower AMT.N, Crown Castle CCI.N, and SBA Communications SBAC.O, but all jump for the week, gaining 7-9% each

** Consumer Staples .SPLRCS up 3.7%. Walmart WMT.O climbs as retail giant poised to join Nasdaq 100 index .NDX

** Industrials .SPLRCI lift 3%. Boeing BA.N rises after reporting highest annual aircraft deliveries since 2018

** Energy .SPNY up 2.4%. Exxon Mobil XOM.N hits record high, energy firms gain as crude prices jump on prospect of Iranian oil exports disruptions overshadowed possible increased supply from Venezuela O/R

** Utilities .SPLRCU up 2.1%. However, power producers fall Fri on report of White House deal to curb electricity prices

** Materials .SPLRCM edge up 0.7%. Gold miners drop Fri as bullion prices retreat after record highs. Silver has been white hot; maybe too hot?

PHLX Gold/Silver Index .XAU extends winning streak to seven days; advances 5.5% for the week

** Tech .SPLRCT slips 0.6%. Chip stocks surge after strong results and guidance from TSMC 2330.TW

Semiconductor index .SOX leaps nearly 4%

** Communication Services .SPLRCL off 1.5%. Google-parent Alphabet GOOGL.O hits $4 trln market valuation as AI refocus lifts sentiment

** Financials .SPSY sag 2.3%. Banks, credit card issuers drop after Trump calls for 10% cap on credit card interest rates. Synchrony Financial SYF.N sheds 8%, Capital One COF.N surrenders 4% on the week

JPMorgan JPM.N falls as investment banking fees dip, credit card cap worries weigh, Citigroup C.N drops despite Q4 profit beat, Bank of America BAC.N falls even after NII hits record, trading surges, and Wells Fargo WFC.N slips after slight Q4 rev and NII miss

Conversely, Goldman Sachs GS.N climbs on earnings beat driven by robust M&A activity and trading, Morgan Stanley MS.N rises on Q4 profit jump, dealmaking windfall

For the week, S&P 500 banks index .SPXBK loses 4.4%, though KBW regional banking index .KRX adds 0.7%

** Meanwhile, individual investor bulls highest since Nov 2024

** 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))