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2021-02-07
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BUZZ-U.S. stocks weekly: Gaming more aid
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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. 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