May 31, 2019 / 8:29 PM / a year ago

BUZZ-U.S. stocks weekly: Mayhem

    ** S&P 500 drops 2.6%, extends losing streak to 4
weeks. SPX sheds 6.6% in May as U.S.-China trade war intensifies
 and President Trump opens new front with Mexico

    ** Indeed, the SPX appeared heavy handed,
ultimately leading to multi-month lows
    ** This as a momentum millstone leads to a May mishap

    ** And with a sweaty open Fri, traders turn to
their charts
    ** Every sector hit: Energy reels most, while even defensive
groups stagger
    ** Energy dives 4.4%. Refiners and oil shares fall
as proposed tariffs on Mexico add to supply worries.
 Valero and Marathon Petroleum
 both slide >7%
    ** Consumer Staples slump 3.5%. Kraft Heinz
 hits record low as group spoils, while
analyst says tariffs on Mexican imports could leave Corona beer
maker Constellation Brands with a bad hangover

    ** Financials drop 3.1%. U.S. Treasury yields hit
new lows, weigh on banks. S&P 500 Banks index
 falls 4%
    ** Industrials down 2.5%. Railroads skid on
Trump's Mexico threat and Rockwell Automation
 among group fallout on the news. Struggles
of transports transmit caution to Wall Street. Dow
Transport Avg fades ~4% amid May swoon of 10%
    ** Consumer Discretionary loses 2.3%. U.S.
carmakers tumble, auto parts makers stumble, with threat of
tariffs on Mexican imports
    ** Tech down 1.9%. Chipmakers and equipment makers
fall on China's rare earth export warning. Though
Total System Services rises on Global Payments'
$21.5 bln all-stock buyout
    ** Meanwhile, ride-hailing firm Uber Technologies
stuck in neutral as first report as public co shows costs grow
for drivers, food delivery
    ** SPX sector performance YTD through Thurs: 
0 : 0
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