** S&P 500 falls second straight week, loses 1.4% as earnings season dominates the headlines
** Dow edges down for a second week in a row, while Nasdaq Composite ends seven-week run of gains
** Indeed, S&P 500 index is struggling to rekindle its spirit
** Benchmark U.S. 10-year Treasury yield climbing into the Cloud, and on track to rise for an eighth straight week
** Nearly every sector startled: Technology most timid, while just Consumer Discretionary and Communication Services show grit
** Tech dives 3.3%. Super Micro plunges 45% on the week after EY resigns as AI server maker's accountant
Apple falls as modest growth forecast sparks demand concerns
Microsoft declines, sees slower growth in cloud business Azure
But Intel jumps after upbeat Q4 outlook fuels recovery hopes
However, chip stocks drop after Advanced Micro , Qorvo dour forecasts
Semiconductor index sags 4%
** Energy slides 2.1%. Sector falls Tues after report of talks to end Lebanon war. On Fri, Chevron rises on Q3 profit beat, and Exxon Mobil climbs at first on earnings beat due to rising production, but finishes session in the red
Crude oil futures drilling down to support, is it solid?
** Industrials slip 1%. Huntington Ingalls sheds >25% after military shipbuilder cuts rev forecast
Boeing bounces back Tues after up to $24 bln capital raise, and climbs Fri after making improved contract offer to striking workers. BA ends week down fractionally
Though Paycom registers record daily gain after Q3 results beat. PAYC top SPX weekly performer, up 28%
** Healthcare dips 0.6%. Eli Lilly falls as weight-loss drug sales miss estimates
** Consumer Discretionary edges up 0.5%. Amazon.com advances as favorable retail sales boost profit, and cloud business seen on track for growth
** Communication Services rise 1.5%. Google parent Alphabet gains as AI investments boost cloud sales
In contrast, Facebook/Instagram owner Meta down after projecting sharp acceleration in AI costs
** Meanwhile, with election day nearing, markets focus in on two likely outcomes
** SPX performance YTD:
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
((lance.tupper.tr.com@reuters.net lance.tupper@tr.com terence.gabriel.tr.com@reuters.net terence.gabriel@tr.com))
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