Vast majority of sectors receive a shock: interest rate-sensitive Utilities, Industrials and Tech shiver, while Healthcare soothes
Tech .SPLRCT drops 3.2%. Nvidia NVDA.O to guarantee OpenAI's Ohio data center for up to $105 bln. NVDA finishes the week down nearly 5%
Semiconductor index .SOX sheds 5.5%
Financials .SPSY sag 1.2%. But Coinbase COIN.O and Robinhood Markets HOOD.O vault as bitcoin BTC= extends rally after President Trump urges Congress to pass a crypto bill, and on a boost to risk assets following the Treasury Department's move to support long-duration bonds
Consumer Staples .SPLRCS down 1%. Walmart WMT.O slumps after a rare comparable sales miss in Q2, though Target TGT.N rises after a second annual sales forecast hike this year on turnaround efforts
Consumer Discretionary .SPLRCD dips 0.2%. Home Depot HD.N initially rises on Tuesday after a Q2 beat as steady repair demand helped offset sluggish spending on big-ticket projects, but HD ends slightly red
AI debt and year-to-date sector performance
Meanwhile, rising AI-related debt issuance and widening tech CDS spreads raise questions about whether there is a cliff up ahead, while Carson Group also weighs in on AI buildout increasingly fueled by debt
SPX performance YTD:
Energy
41.2%
Tech
19.9%
Materials
17.0%
Industrials
16.0%
Healthcare
12.6%
Real Estate
12.4%
SPX
12.1%
Staples
8.8%
Financials
4.8%
Discretionary
0.3%
Comm Svcs
-0.2%
Utils
-0.2%
Gold, healthcare and biotech lead the upside
Materials .SPLRCM up 2.3%. Gold miners including Newmont NEM.N track the rise in spot gold XAU=, driven by a weaker dollar =USD and the U.S. Treasury's surprise mid-week liquidity support announcement
Spot gold shines, miners soar, and metal clears resistance hurdles on Friday
PHLX Gold/Silver Index .XAU surges about 14%
Healthcare .SPXHC jumps 4.3%. Moderna MRNA.O zooms 129% on the week after a melanoma skin cancer vaccine combined with Merck's MRK.N Keytruda reduced recurrence in a late-stage trial, the companies say, boosting biotech stocks
Nasdaq Biotech index .NBI climbs about 7%, hits a fresh record high
Stocks retreat as bond market turbulence weighs
S&P 500 .SPX snaps a 3-week winning streak, retreats 1.4% as bond market turbulence weighs .N
Dow .DJI edges down 0.8%, Nasdaq Composite .IXIC drops 2.1%
Rising breadth supported bullish Nasdaq outlook the week before, but the internal measure retreats five straight days through Friday as the tech-heavy index sinks
Bulls still look for a bounce after the S&P 500 pulls back from records
Dow .DJI survives a crucial support test Friday ahead of PCE, Nvidia and Jackson Hole
U.S. 10-Year Treasury yield US10YT=RR falls to as low as 4.63%, then rises to the 4.74% area as a long-term breakout gathers momentum
SPY•
