(Repeats from Friday, no changes to text. Updates chart)
** S&amp;P 500 (.SPX) edges down ~0.2% for the week as markets digest inflation data, look ahead to next week’s FOMC meeting (.N)
** Indeed, choppy trade prevails, as Nasdaq Composite (.IXIC) also deflates slightly, loses ~0.4% for the week
** Though a put/call measure still elevated, as the U.S. 10-year Treasury yield (US10YT=RR) is back up to challenge highs
** Even with small SPX weekly loss, most sectors pump up: utilities, consumer discretionary and financials lift most, while tech is among the weaklings
** Tech (.SPLRCT) down 2.2%. Oracle (ORCL.N) tumbles as top-line forecast disappoints. Street View: cloud business to see benefit in the long term. Stock slides ~10%
Apple (AAPL.O) falls after report that China’s Huawei raises phone shipment targets, and Street View: Apples’ steady iPhone prices divides Wall St
U.S. chip tool makers fall on report TSMC asks vendors to delay delivery, and chip group also takes hit as UAW strikes cast a shadow on demand from the auto sector
However, Arm’s (ARM.O) Nasdaq debut boosts sentiment, even though Needham warns of challenges
Semiconductor index (.SOX) gives up &gt;2%
** Industrials (.SPLRCI) dip 0.6%. RTX (RTX.N) falls on $3 bln hit from Pratt &amp; Whitney GTF engine issues, BofA downgrades. RTX loses &gt;9%. 3M (MMM.N) expects ‘slow growth environment’ in 2024, MMM falls ~5%
** Healthcare (.SPXHC) edges up 0.05%. Moderna (MRNA.O) rises &gt;6% as UK regulator approves co’s updated COVID vaccine
** Energy (.SPNY) up 0.1%. U.S. energy firms rise on tight oil supply outlook. Group comes out on top over past 3-months after lagging this year. This as NYMEX crude futures (CLc1) probe over $90 for first time since Nov 2022 (O/R)
** Communication Services (.SPLRCL) up 0.6%. Charter Communications (CHTR.O) , Disney (DIS.N) rise on reaching distribution deal. Street View: ‘win-win for both.’ CHTR rallies ~6%, DIS up ~5%
** Financials (.SPSY) gain 1.4%. Citi (C.N) rallies &gt;5% after management changes give CEO more oversight of businesses. S&amp;P 500 banks index (.SPXBK) up ~3%
** Consumer discretionary (.SPLRCD) rises 1.7%. Tesla (TSLA.O) zooms as MS upgrades on supercomputing potential, makes it ‘top pick’. TSLA surges &gt;10%
And although the United Auto Workers union on Fri launched simultaneous strikes at three factories owned by General Motors (GM.N) , Ford (F.N) and Chrysler-owner Stellantis (STLAM.MI) , both GM and F rise ~3% each for the week
** Meanwhile, Arm’s shares seen as a shoo-in for Nasdaq 100 (.NDX) , though S&amp;P 500 unlikely, and Instacart raises IPO price range after robust Arm debut
** SPX performance YTD:
SPXsectors09182023
<img src="https://imageproxy.pbkrs.com/https://tmsnrt.rs/3Pq44bo?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="750" height="500" original-src="https://imageproxy.pbkrs.com/https://tmsnrt.rs/3Pq44bo"/>
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)

(Repeats from Friday, no changes to text. Updates chart)

Reuters

Dow Jones Industrial Average

Apple

Tesla

Oracle

NASDAQ-100

Citigroup

Ford Motor

General Motors

Disney

Moderna

Charter Comm

BUZZ-U.S. stocks weekly: Arm strength