US stocks weekly: Spooky
SPY•The S&P 500 fell 0.6% for a third consecutive week, while the Dow lost 0.9% and the Nasdaq Composite shed 2%. Communication Services and Technology fell, while Healthcare rose 3.1%.
1. Major indexes retreat
The S&P 500 fell 0.6% for a third straight week, putting key trend support in focus. The Dow dropped 0.9% and the tech-heavy Nasdaq Composite lost 2%. The 10-year Treasury yield was on track for a fourth consecutive weekly decline, to around 4.93%.
2. Sector moves diverge
Communication Services fell 8.5% and Technology slipped 1.8%, while Healthcare rose 3.1%, Industrials gained 1.7% and Utilities climbed 2%. Meta fell after increasing its AI spending plans, Alphabet dropped after an advertising revenue miss, and Reddit declined after flagging traffic headwinds tied to Google AI search. Eli Lilly rose after lifting its annual revenue outlook as demand for its weight-loss shot increased.
