** S&amp;P 500 (.SPX) rises for 2nd straight week, finishes up 1.6%, even with three big threats: earnings, tight labor market and rates (.N)
** In any event, the Nasdaq (.IXIC) kicked off the week as another brick in the wall came down
** Tech, growth stocks, rallied Weds as yields retreated during Powell presser
** And then there was a golden cross on the SPX
, leading up to the IXIC posting its 5th-straight weekly gain
** Most sectors defy the angst: communication services and tech sail on, while utilities and energy batten down hatches
** Communication services (.SPLRCL) pops 5.3%. Facebook-parent Meta (META.O) surges on lower costs, big buyback, upbeat sales forecast . META jumps 23%
Though Google-owner Alphabet (GOOGL.O) falls Fri on Q4 sales miss as ad business slips
** Tech (.SPLRCT) leaps 3.7%. Apple (AAPL.O) recovers Fri despite profit miss and forecasting rev fall . Advanced Micro (AMD.O) gains after chipmaker’s rev beat . Philadelphia Semi index (.SOX) up nearly 5%
** Consumer discretionary (.SPLRCD) up 2.2%. Amazon.com (AMZN.O) slumps Fri as outlook disappoints . AMZN clings to 1% gain on the week
** Financials (.SPSY) up 0.9%. Banks (.SPXBK) outperform Fri after blow out jobs number has markets fretting over rate-hike prospects . SPXBK rises ~2%
** Healthcare (.SPXHC) edges down 0.1%. But top SPX performer Align Tech (ALGN.O) , up 27%, after orthodontics firm’s first beat in a year
** Energy (.SPNY) slides 5.9%. Sector drops as U.S. govt data shows big builds in crude, fuel inventories . Exxon (XOM.N) climbs Tues on $56 bln record profit in 2022 , while ConocoPhillips (COP.N) falls after Q4 profit miss
** Meanwhile, on crude futures (CLc1) , is trader Joe eyeing his fill? , and at the halfway mark, U.S. earnings looking even weaker
** SPX performance YTD:
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

.IXIC

NDAQ

** S&amp;P 500 (.SPX) rises for 2nd straight week, finishes up 1.6%, even with three big threats: earnings, tight labor market and rates (.N)
** In any event, the Nasdaq (

BUZZ-U.S. stocks weekly: Triple threat