BUZZ-U.S. stocks weekly: Search for the bottom

Fri Jan 22, 2016 4:28pm EST
 
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** A crude snap-back and signs of additional central bank stimulus lift the SPX to its first weekly gain of 2016, but investors remain cautious as rallies have been short-lived this year

** After a brutal pounding, equity strategists suggest stocks were due for a bounce

** While BofA-ML's global fund manager survey indicates bear sentiment has yet to peak

** SPX gyrates wildly, but closes up 1.4 pct for week , spurred by gains in beaten down sectors and weakest names

** Energy leading sector on Friday as shorts cover their oil bets. Southwestern Energy is week's top S&P percentage performer

** Technology notches a 2.4-pct gain. A true believer sings Apple's praises heading into co's results next week, while IBM sings the blues

** Financials a notable laggard with banks struggling for support and a bleak outlook for American Express

** Defensive Telecom sector, a YTD leader , surges on back of strong Verizon results

** 2016 sector performance for the S&P500 : reut.rs/1k6B7QQ (RM: lance.tupper.tr.com@reuters.net; Messaging: terence.gabriel.tr.com@reuters.net)