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(Corrects 1st bullet to say “Thurs”, not “Fri”) ** S&P 500 gains 12.1% for its best week since 1974. Equities rise Thurs after Fed rolls out $2.3 trln plan to backstop “Main Street,” local governments ** Indeed, SPX goes on a run, as the claw back continues ** And a little junk food provides a boost ** Still, the Nasdaq Composite has its internal challenges, while monthly moving averages work their magic ** Every sector advances with real estate, financials and consumer discretionary among the leaders ** Real Estate surges 21.2%. Senior housing operator Ventas, up 50%, and mall REIT Simon Property , up 46%, recover some lost ground ** Financials leap 19.1%. Big banks soar Fri on Fed’s latest stimulus effort. S&P 500 Banks index rallies 25% ** Consumer discretionary jumps 13.8%. Capri Holdings up 57% as Michael Kors owner furloughs N. Amer store staff, cuts salaries amid COVID-19 uncertainties . Travel and casino stocks jump on signs the coronavirus outbreak starting to plateau ** Industrials up 12.3%. Airline shares surge after Treasury Secretary Mnuchin says aid for the carriers will be the “next big thing” to be rolled out ** Tech up 10.6%. Microchip gains as co sees strong Mar-qtr sales growth ** Healthcare up 9.4%. Health insurers jump as Bernie Sanders drops out of presidential race ** Meanwhile, Zoom Video Communications gyrates as Alphabet Inc’s Google bans co’s software from employee laptops amid mounting privacy concerns ** SPX sector performance YTD: (Reporting by Lance Tupper and Terence Gabriel)
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