February 22, 2016 / 12:25 PM / 2 years ago

RPT-BUZZ-U.S. stocks weekly: A little love

(Repeats from Friday, no changes to text)

** S&P 500 index has its best weekly advance this year, though a late retreat in crude tempered the rally

** An oversold market presented opportunities for some bargain hunting, but most PMs remain cautious and load up on cash, according to BAML’s global survey

** SPX posts a gain of 2.8 pct for the week with all 10 sectors higher

** Consumer discretionary best sector up 4.3 pct, its strongest showing in 3 months. Priceline surges about a fifth after solid results

** Market embraces tech, sector adds 3.8 pct. Big Blue bounces on shift to cloud , and NVIDIA and Applied Materials results buoyed semis

** In financials, beaten-down banks continued their rebound from last Friday. KBW banks index gains 2 pct, though is still down 17 pct YTD

** On negative side, 8 of 10 SPX’s worst performers were energy names given oil’s slide. Several E&P’s, including Devon Energy, scrambled to raise equity, looking to bolster their balance sheets amid the lower-for-longer price environment

** And bleak outlooks from Wal Mart and Nordstrom disheartened retailers

** Notable single-stock winners: ADT Corp (49 pct) on M&A ; Freeport McMoRan (25 pct) and Kinder Morgan (16 pct) on hedge-fund stakes

** 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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