(Repeats from Friday, no changes to text. Adds chart)
** S&P 500 loses 2.9% amid sharp rise in virus cases
** SPX still on track for its best qtr since Q4 1998, but Jun has turned a bit buggy
** Leads to the question, will it go from Jun calm to Jul fireworks?
** This as a runaway Nasdaq suggests caution on the charts
** Every sector falls ill: Energy and financials weakest, while tech relatively immune; indeed, when it comes to growth vs value, it's to the moon
** Financials flop 5.3%. Big banks sink as Fed to cap dividend payments after pandemic analysis . S&P 500 Banks index drops >7%
** Communications services slides 5.2%. Facebook and Twitter slump as Unilever halts U.S. ads for 2020, joins ad spending boycott against FB as part of "Stop Hate for Profit" campaign
Disney falls as co delays reopening of California Disneyland as state suffers from huge spike in new coronavirus cases , while workers at Orlando theme park petition to slow re-opening plans
T-Mobile US slips after pricing SoftBank share sale
** Industrials sag 4%. American Airlines biggest SPX loser, down ~23%, descends after $2 bln haul from upsized stock, convertible deals . This as passengers steadily increase, but airline stocks decline . S&P 1500 Airlines index loses 10%
** Consumer discretionary down 1.9%. Nike trips Fri on surprise loss as COVID-19 hits wholesale business
** Tech dips 0.4%. Top sector performer Accenture rallies after Q3 results beat expectations , Street sees outlook as optimistic in weak macro scenario
** Meanwhile, tech gorilla gets bigger in Russell reconstitution
** SPX performance YTD:
/><^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
SP 500 2020 YTD THROUGH JUNE 26
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Lance Tupper and Terence Gabriel are Reuters market analysts.
The views expressed are their own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017
terence.gabriel.tr.com@reuters.net
terence.gabriel@tr.com 646-223-4122)
** S&P 500 loses 2.9% amid sharp rise in virus cases
** SPX still on track for its best qtr since Q4 1998, but Jun has turned a bit buggy
** Leads to the question, will it go from Jun calm to Jul fireworks?
** This as a runaway Nasdaq suggests caution on the charts
** Every sector falls ill: Energy and financials weakest, while tech relatively immune; indeed, when it comes to growth vs value, it's to the moon
** Financials flop 5.3%. Big banks sink as Fed to cap dividend payments after pandemic analysis . S&P 500 Banks index drops >7%
** Communications services slides 5.2%. Facebook and Twitter slump as Unilever halts U.S. ads for 2020, joins ad spending boycott against FB as part of "Stop Hate for Profit" campaign
Disney falls as co delays reopening of California Disneyland as state suffers from huge spike in new coronavirus cases , while workers at Orlando theme park petition to slow re-opening plans
T-Mobile US slips after pricing SoftBank share sale
** Industrials sag 4%. American Airlines biggest SPX loser, down ~23%, descends after $2 bln haul from upsized stock, convertible deals . This as passengers steadily increase, but airline stocks decline . S&P 1500 Airlines index loses 10%
** Consumer discretionary down 1.9%. Nike trips Fri on surprise loss as COVID-19 hits wholesale business
** Tech dips 0.4%. Top sector performer Accenture rallies after Q3 results beat expectations , Street sees outlook as optimistic in weak macro scenario
** Meanwhile, tech gorilla gets bigger in Russell reconstitution
** SPX performance YTD:
/><^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
SP 500 2020 YTD THROUGH JUNE 26
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Lance Tupper and Terence Gabriel are Reuters market analysts.
The views expressed are their own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017
terence.gabriel.tr.com@reuters.net
terence.gabriel@tr.com 646-223-4122)