BUZZ-U.S. stocks: Covering rally heading into earnings

Fri Oct 9, 2015 4:23pm EDT
 
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(Updates chart in 4th bullet)

** Equities enjoy their best week this year with YTD laggards rebounding

** S&P 500 3.3-pct gain led by commodities-linked sectors that have been pummeled: energy up 7.8 pct, materials up 6.8 pct and industrials up 6.1 pct

** Energy rides spot price bounce with Transocean , Helmerich and Payne, CONSOL Energy, Marathon Oil and Murphy Oil rising 17 pct to 25 pct

** Traders cite short covering spurred many single-stock moves, with Thomson Reuters US Most Short Index continuing climb to an all-time high. Chart: link.reuters.com/xyz75w

** Notable consensus shorts that also rallied include Fossil Group, ADT Corp and Mattel

** Week's top single-stock performer Freeport-McMoRan comes up for air and lady luck shines on Wynn Resorts

** Potential EMC /Dell tie-up buoys tech stocks

** Conversely, week's biggest loser YUM! Brands Inc's (down 14 pct) China revival undercut by smartphone apps   Continued...