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US stocks weekly: Trade down

ReutersMay 12, 2025 10:00 AM

S&P 500 .SPX breaks two-week winning streak, ends down 0.5%, after digesting Fed, cheering UK trade deal, but cautiously awaiting China tariff talks .N

Dow .DJI dips 0.2%, Nasdaq Composite .IXIC off 0.3%

This as S&P 500's index's moving average wall trumps win streak, and Nasdaq in a similar high-hurdle face-off

U.S. 10-Year Treasury yield US10YT=RR, at around 4.39%, rising for a second week, cruising above the cloud

In the end, just a minority of sectors get marked down: Healthcare takes biggest haircut, while Consumer Discretionary and Industrials are the top go-to choices

Healthcare .SPXHC slumps 4.3%. Drugmakers fall as Trump signals announcement on medicine costs

Vaccine makers such as Moderna MRNA.O decline after FDA names Vinay Prasad, a fierce COVID-19 restrictions critic, as top vaccine official

Nasdaq Biotechnology index .NBI dives 8.5%

Communication Services .SPLRCL stumble 2.4%. Google parent Alphabet GOOGL.O slides after Apple AAPL.O exec testifies at an antitrust case and said iPhone maker "actively looking at" reshaping Safari web browser

On the flip side, Walt Disney DIS.N jumps as earnings soar past estimates on resilient streaming, U.S. parks rev

Financials .SPSY edge up fractionally. Berkshire Hathaway BRKb.N falls as Warren Buffett to step down as CEO at year-end

Tech .SPLRCT ticks up 0.3%. Palantir PLTR.O retreats after results and raised forecast fail to meet high expectations

Microchip MCHP.O rallies after upbeat guidance, Wall Street upgrades. MCHP registers >15% weekly advance

Semiconductor index .SOX, which has been powering up on the charts, gains 1.6%

Consumer Discretionary .SPLRCD up 0.8%. Though DoorDash DASH.O drops after decision to buy British meal delivery rival Deliveroo ROO.L in ~$4 bln deal, downbeat qtrly profit forecast

Industrials .SPLRCI climb 1.1%. Boeing BA.N lifts after Commerce Secretary says UK to buy $10 bln of co's jets

Meanwhile, individual investor bulls make a leap, and as tariff uncertainties weigh, BarCap favors value and yield stocks

SPX performance YTD:

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