** S&P 500 jumps 4.6%, enjoys best week since U.S. elections as investors bet on more government aid to bolster economy
** That said, the SPX may have tired legs
** This as the Dow faces a rough ceiling
** Indeed, it was 5000 points, and a cloud of dust
, though the Nasdaq may have a crack under the surface
** But by Fri, the Dow was swinging for its highs
** Every sector hits paydirt: energy and communication services are the MVPs
** Energy surges 8.3%. Oil cos rise as crude hits 1-yr high on growth hopes, OPEC+ supply cuts . Exxon
gains as Wall Street sees co moving in right direction
, and reportedly had discussed merger with Chevron
in early 2020
** Communication services rally 7.3%. Alphabet
best in sector, up 14%, as Google search still king, but Cloud and YouTube strong supporting cast
** Consumer Discretionary up 6%. Amazon.com
founder Bezos to give reins to cloud boss Jassy as sales rocket past $100 bln
** Tech lifts 4.9%. PayPal leaps 15% on upbeat Q4 results as pandemic-driven shift to online shopping sends payment volumes surging . But Qualcomm
falls after sales miss on chip supply constraints
** Meanwhile, the GameStop roller coaster continues
, and when it comes to Super Bowl LV, will the market score, or fumble?
** SPX performance YTD:
(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 terence.gabriel.tr.com@reuters.net terence.gabriel@tr.com))
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