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US stocks weekly: Silicon sprint

ReutersMay 11, 2026 10:00 AM

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S&P 500 .SPX rises for sixth consecutive week, gains 2.3% on AI optimism, Middle East peace hopes .N

Dow .DJI inches up 0.2%, while tech-heavy Nasdaq Composite .IXIC, also up six weeks in a row, pops 4.5%

That said, Nasdaq hits new highs as market breadth sends a warning

In any event, S&P 500 accelerates as bulls step on the gas; ends Fri at 7,398.93, surpassing resistance hurdles

U.S. 10-Year Treasury yield US10YT=RR edges down to 4.36% area. Still coiling, but history warns calm won’t last

Majority of sectors push the pace: Technology on a tear, while defensive plays and Energy sputter

Tech .SPLRCT powers up 7%. Datadog DDOG.O surges 42% on the week after Q1 beat, annual forecast hike on strong cloud security demand tied to AI workloads

Akamai AKAM.O skyrockets after disclosing $1.8 bln AI cloud deal, reportedly with Anthropic. AKAM also ascends 42%

Corning GLW.N vaults after partnership with Nvidia NVDA.O to expand US fiber-optic output for AI growth

Intel INTC.O zips after report Apple AAPL.O holds talks with co, Samsung Electronics 005930.KS for US chipmaking

Advanced Micro Devices AMD.O leaps on strong AI-driven rev forecast, spurs rally in broader semiconductor sector

Semiconductor index .SOX scurries 11%

IGV IGV.P reaches a crossroads as software stocks show signs of life; ETF rallies ~5%, forges above resistance

Communication Services .SPLRCL up 1.9%. Walt Disney DIS.N rises after qtrly beat as new CEO Josh D'Amaro outlines growth strategy

Consumer Discretionary .SPLRCD 1.8%. Shares of eBay EBAY.O climb after videogame retailer GameStop's GME.N bold $56 bln buyout bid

Though McDonald's MCD.N slips after missing Wall Street's US same-store sales estimates, as value push overshadowed by weaker traffic amid higher fuel and grocery costs

Industrials .SPLRCI tick up 0.2%. UPS UPS.N and FedEx FDX.N skid after Amazon.com AMZN.O opens its logistics network to other businesses

Healthcare .SPXHC slips 1.2%. Zoetis ZTS.N slumps after cutting profit forecast as price-sensitive pet owners curb veterinary visits

Energy .SPNY retreats 5.4%. Group falls as oil prices slide amid reports of possible US-Iran deal O/R

Meanwhile, individual investors trimmed stocks, boosted cash in Apr as sentiment soured, but then settle into the middle as neutral sentiment jumps in early May

SPX performance YTD:

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