Repeats From Friday With No Changes to Text. Updates Chart
** S&P 500 .spx Loses 2.1% as Powell Douses Hopes for Dec Rate Cut .n
** Weakness Sets in Just as SPX Nears Big Barrier Just Above 6K; Indeed, Bulls Suddenly in No Hurry as Post-Election Rally Stalls
** Nasdaq Composite .ixic Races to New Highs, and for Once, Not Gasping for "Breadth," but Then Reverses; by Fri, Nasdaq Advance/Decline Line Hits New Lows, Ixic Ends Down 3.1% for the Week
** Nearly All Sectors Take a Plunge: Healthcare Drenched Most, While Just Energy and Financials Stay Afloat
** Healthcare .spxhc Plummets 5.5%. Drugmakers Extend Declines After Trump Picks Rfk Jr to Lead Top US Health Agency. Vaccine Maker Moderna Mrna.o Sheds 21% on Week
Abbvie Abbv.n Declines as Schizophrenia Drug Fails in Mid-Stage Studies
For the Week, Nasdaq Biotech Index .nbi Sinks 10%
** Materials .splrcm Melt 3.3%. Might Gold's Xau= Recent Stumble Turn Into a Real Tumble? ARCA Gold Bugs Index .hui Craters ~8%
** Tech .splrct Descends 3.2%. Applied Materials Amat.o Falls as Fiscal Q1 Rev Forecast Signals Weak Spending Outside AI Chips
Semiconductor Index .sox Submerges Nearly 9%
** Industrials .splrci Sag 2.1%. Defense, Government Contractor Stocks Extend Recent Slide as Investors Eye Trump's Proposed Doge (Department of Government Efficiency). Leidos Ldos.n and General Dynamics Gd.n Fall 19% and 7%, Respectively, on the Week
S&P 500 Aerospace & Defense Index .splrcaero Loses 5%
** Communication Services .splrcl Slip 2.1%. Though Disney Dis.n Jumps and Is Top SPX Performer as 'deadpool & Wolverine' Stars in Quarterly Beat. Dis Notches 16.2% Weekly Gain for Best Such Showing in 24 Years
** Consumer Discretionary .splrcd Dips 1.1%. Though Home Depot Hd.n up After Forecasting Smaller Drop in Annual Same-Store Sales
And Coach Parent Tapestry Tpr.n Hits Over Decade-High After Pulling $8.5 Bln Deal for Capri Cpri.n
** Financials .spsy Climb 1.4%. Charles Schwab Schw.n Gains on Strong Client Asset Growth in October
** Meanwhile, Bitcoin BTC= Soars Above $90,000 as It Extends Post-Election Gains, Amid Volume Surge
** SPX Performance YTD:
(Lance Tupper and Terence Gabriel Are Reuters Market Analysts. the Views Expressed Are Their Own)
((Lance.tupper.tr.com@Reuters.netmailto:Lance.tupper@Tr.commailto:Terence.gabriel.tr.com@Reuters.netmailto:Terence.gabriel@Tr.com))
