April 23, 2018 / 11:19 AM / 5 months ago

RPT-BUZZ-U.S. stocks weekly: Sweet and sour

(Repeats from Friday, updates chart)

** S&P 500 up second straight week, but ekes out just 0.5 pct gain with focus on qtrly reports and interest rates

** That said, E-Mini S&P Futures still trapped in no man's land, while SPX coil tightens

** Nasdaq indices try to shake off Apple sour turn, chip stock weakness; Dow Futures and DJI try to do same with IBM , though gains hard to hold

** Majority of sectors lift: Energy, industrials chug higher, while consumer staples shunned

** Energy up 2.6 pct. Oil prices hit late-2014 high, recover from Trump tweet criticizing OPEC

** Industrials up 2.1 pct. General Electric surges Fri after better-than-feared report. CSX rides to record high after strong Q1. Dow Transports up 2 pct

** Consumer discretionary up 1.7 pct. Amazon.com Prime numbers wow Street and Netflix streams to record high on original programming blitz

** Financials up 1.6 pct. Big banks advance as climbing yields end two weeks of curve flattening . Financials ETF finds lines on the charts, digs in, rallies 1.5 pct

** Tech slips 0.2 pct. IBM a drag as Q1 margins miss estimates. Apple slumps on signs of weak iPhone demand, adds to angst from Taiwan Semiconductor's warning of softer smartphone sales . Indeed, Apple shares may succumb to gravity . And splintered Chips may no longer be solid play . SOX drops 4.4 pct

** Consumer staples plunge 4.4 pct. Worst S&P performer Philip Morris down 17 pct as weak report smokes shares. Procter & Gamble sags on disappointing results, outlook

** SPX sector performance over past 12 mths: reut.rs/2F9th3Q

** Meanwhile, S&P earnings expectations sweeten, now seen at 20 pct for Q1

** Though U.S. ban on American component sales to China telecom equipment maker ZTE sparks selloff in optical space

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