August 27, 2018 / 11:10 AM / 3 months ago

RPT-BUZZ- U.S. stocks weekly: At the summit

(Repeats from Friday, no changes to text. Updates chart)

** S&P 500 posts 0.9 pct weekly gain, notches new record on Fri in wake of Fed Reserve Chair Powell's comments at global central bankers' meeting in Jackson Hole, Wyoming

** The Nasdaq Composite also hit a new record, though of late, with dull FANGs it's been less ferocious on a relative basis

** The DJ Transports also chugged to a new high, but the DJI still has work to do

** This as market's breadth has been strong, though its blood pressure may be high

** Most sectors climb; energy, consumer discretionary and tech scale the heights, while defensive plays stumble on the rocks

** Energy rises 2.6 pct, snaps 3-week losing streak. Dollar softens as Fed signals no intention of accelerating rate hikes, and oil prices surge on expected China demand, Iran supply curb

** Consumer Discretionary up 2 pct. Lowe's bounces back on new CEO's turnaround plans and Target hits all-time high on best comp sales growth in 13 yrs. However, worst weekly SPX performer L Brands slides 15 pct on weaker demand for its Pink lingerie brand

** Tech up 1.7 pct. Year's top SPX winner Advanced Micro Devices chips in with 21 pct gain, while software maker Autodesk hits record high on robust Q2 report. Semiconductor index advances 4 pct, though its byte is in question on the charts , and this as the Tech ETF may be at risk of another short circuit

** Real estate drops 1.1 pct. Public Storage biggest sector loser down ~5 pct as Goldman downgrades to "sell" on slowing same store growth, elevated supply concerns

** Consumer Staples fall 1.8 pct. Philip Morris and Altria fall as worsening drop in cigarette vols sparks market share worries

** SPX sector YTD performance through Fri: reut.rs/2PI2tye

** Meanwhile, with SPX achieving record high close on Fri, index confirms bull market intact

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