** S&P 500 .SPX snaps 2-week run, dips 0.7%, as rising bond yields weigh This as another bout of doubt creeps in and the SPX may have gone from triangle to trend change and then a cold open And with Apple AAPL.O at the core of market weakness it may be time for the Nasdaq .IXIC to put 'em up Most sectors catch a chill: Healthcare, utilities and tech shiver, while energy and financials sit by the fire
** Utilities .SPLRCU drop 2%, real estate .SPLRCR off 0.8%. Bond proxies slump on inflation expectations Tech .SPLRCT falls 1.9%. Enphase ENPH.O dims by 8% as solar stocks slide; Biden scraps Trump plan to weaken environmental rules. Invesco Solar ETF TAN.P down ~9%
Though chip gear maker Applied Materials AMAT.O hits record high Fri after strong results, forecast Consumer Staples .SPLRCS down 1.1%. Walmart (NYSE:WMT) WMT.N falls to three-month low after outlook disappoints but analysts say investment plans to pay off longer term Communication Services .SPLRCL off 0.9%. Facebook FB.O slips after co blocks news content in Australia Industrials .SPLRCI up 0.7%. Deere DE.N jumps Fri after farm equipment producer raises outlook on improved demand Financials .SPSY surge 2.8%. Banks rally as benchmark U.S. 10-yr Treasury yield US10YT=RR hits 1-yr high curve steepens Wells Fargo (NYSE:WFC) WFC.N best in sector, up 13%, on report of Fed approving bank's overhaul plan Energy .SPNY leaps 3.1%. Oil firms rise as Texas cold snap pushes U.S. crude higher Meanwhile, when it comes to 2021 megatrends, cannabis has been hitting the high note and home sales, services PMI: An end to a winter of pandemic discontent? SPX performance YTD:
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)