BUZZ-US stocks weekly: Turbulence

** S&P 500 .SPX ticks up 0.3% in wild trading as investors assess bevy of earnings reports, President Trump's Fed pick .N

** Dow .DJI dips 0.4%, Nasdaq Composite .IXIC ends off 0.2%

** S&P 500 scores its fourth record closing high of the year on Tues, then probes above 7,000 milestone for first time ever on Weds, but then retreats

** This as the Dow keeps fading shy of its 50,000 milestone

** U.S. 10-Year Treasury yield US10YT=RR at around 4.24%, roughly unchanged from last week

** Most sectors resilient: Communication Services and Energy persevere most, while Materials, Consumer Discretionary and Healthcare rocked

** Communication Services .SPLRCL up 4.2%. Facebook parent Meta META.O gains after sharply raising annual capital spending plans, signaling aggressive AI investment

** Energy .SPNY pops 3.9%. Group ascends as crude prices surge over possible US attack on Iran

Exxon Mobil XOM.N up after it surpasses Wall Street Q4 earnings target with higher oil production in Permian Basin, Guyana fields, and Chevron CVX.N lifts after co posts Q4 profit beat, eyes Venezuela investment opportunities

** Industrials .SPLRCI up 0.7%. Though Boeing BA.N descends amid quarterly losses in commercial airplane and defense and space units, even as it swings to overall profit

** Tech .SPLRCT edges lower by 0.4%. SanDisk SNDK.O surges on better-than-expected qtrly forecast as AI fuels storage demand, and hard drive maker Seagate Technology STX.O hits fresh record high on strong outlook

Gorilla Glass maker Corning GLW.N rises after signing fiber-optic cable deal with Meta for its AI data centers

IBM IBM.N rallies after Q4 beat, boosted by strong AI-driven software services demand

Microsoft MSFT.O tumbles after record AI spending, slowing Azure cloud growth rattles investors

Apple AAPL.O rises after forecasting robust sales growth as iPhone demand in Asia rebounds

Semiconductor index .SOX adds 0.5%. Chip stocks showing some fat gains

** Materials .SPLRCM fall 1.2%. Gold miners at first rise as bullion XAU= extends record-breaking rally, but then fall sharply on Fri as XAU slides below $5,000/oz on speculation of a more hawkish US Fed chair. Indeed, gold/silver ratio's shocking slide had traders skittish, then precious metals miners plummet amid violent ratio reversal

On Fri, gold suffers biggest daily percentage drop since Feb 1983; silver has biggest daily drop ever; ARCA Gold BUGS Index .HUI collapses 12.6% for its biggest daily decline since Mar 2020

HUI loses nearly 12% on the week

** Consumer Discretionary .SPLRCD declines 1.4%. Starbucks SBUX.O initially jumps on upbeat annual global sales forecast, then retreats as sinking margins cast a shadow. SBUX loses ~6% on the week

Tesla TSLA.O posts Q4 rev beat, says will invest $2 bln in Elon Musk's xAI, reiterates Cybercab robotaxi production plans on track. This as SpaceX eyes merger with other Musk firms ahead of IPO. TSLA finishes week down ~4%

** Healthcare .SPXHC drops 1.7%. UnitedHealth UNH.N slumps ~19% on Medicare payment rates, 2026 rev forecast, and other health insurers fall on disappointing Medicare proposal. Humana HUM.N suffers 27% weekly decline

** Meanwhile, what a Warsh Fed chair could mean for portfolios, and temperatures are falling, but January Barometer suggests stocks won't fly south

** SPX performance YTD:

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper@tr.com ; terence.gabriel@tr.com))