May 21, 2018 / 11:11 AM / 3 months ago

RPT-BUZZ-U.S. stocks weekly: Cloudy skies

(Repeats from Friday, no changes to text, updates chart)

** S&P 500 dips 0.5 pct on the week as investors grapple with murky trade negotiations, increasing oil prices and rising bond yields

** That said, SPX taking it one step at a time. Attempting to prove any pullback is just a pause

** This as closely watched Fang+ index growls at high, then backs down

** Majority of sectors rained on; rate-sensitive utilities and real estate drenched, while materials and energy see the sun

** Tech down 1.5 pct. Applied Materials drops ~10 pct as dour outlook renews concerns of slowing smartphone market . Cisco retreats 6 pct as tepid forecast clouds qtrly beat . Sector nears its all-time high, but fails to enjoy the view

** Financials down 1.1 pct. Big banks fall as trade talk uncertainty weighs, and concerns over loan growth and regulatory environment build. S&P Banks Index loses 2 pct, looks to vault out of its range

** Cons Discretionary off fractionally. On bright side, top S&P performer Macy's rises 15 pct as comp sales, profit trounce estimates . But Home Depot slips after rare sales miss as delayed spring weather hits demand

** Cons Staples flat. Worst S&P stock Campbell Soup sinks >15 pct on bleak forecast, abrupt CEO exit . Walmart inches higher as margins remain pressured amid e-commerce rebound

** Energy adds 1.5 pct. Group surges as Brent crude hits $80/bbl for 1st time since Nov 2014, boosted by looming U.S. sanctions on Iran, reducing supply in already tightening market

** SPX sector performance over past 12 mths: reut.rs/2LeIpB8

** Meanwhile, corporate buybacks and dividends in Q1 set new records with more reports still to come, according to S&P-Dow Jones

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