February 12, 2016 / 9:29 PM / 2 years ago

BUZZ-U.S. stocks weekly: Gold rush

** Risk-off mentality strikes as recession fears heightened, sending investors stampeding into gold and US treasuries

** Though Friday’s bounce limits the S&P 500 index weekly loss to 0.8 pct; 9 of 10 sectors lose ground

** Financials fall 2.4 pct, but get a nugget of relief after JPMorgan’s CEO Jamie Dimon votes with his wallet and, overseas, Deutsche Bank pacifies

** Still, US banks, pressured by NIRP and energy-loan exposure, eye more cost cuts . KBW Bank index down 19 pct YTD

** Energy slips 0.8 pct as Chesapeake Energy taps out, casting a pall over the sector

** Consumer discretionary, down 0.6 pct, continues to lag YTD, while Viacom shares lose a quarter of their value after media co’s results unnerve

** Even utilities, week’s worst sector, loses steam. Drops 2.5 pct as Supreme Court tables President Obama’s clean power plan

** On flipside, Cisco and Akamai Technologies among top SPX winners after strong results

** And Newmont Mining glitters most from scurry to gold. YTD, NEM up 43 pct, and easily top SPX performer

** Meanwhile, new listings stall as market pans biotech IPOs; all four 2016 debutantes break issue

** One-year sector performance for the S&P 500 : reut.rs/1k6B7QQ (RM: lance.tupper.tr.com@reuters.net; Messaging: terence.gabriel.tr.com@reuters.net)

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