BUZZ-U.S. stocks weekly: Gaming more aid

Reuters2021-02-06

** 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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