** S&P 500 .SPX up second straight week, adds 0.9% as U.S.-Iran deal optimism outweighs hawkish Fed .N

** Dow .DJI climbs 0.7%, finishes off 0.8% from record close, tech-heavy Nasdaq Composite .IXIC pops 2.4%

** Bullish reversal reignites S&P 500’s run at record highs, and markets shake off June slump as Nasdaq eyes new highs; SPX ends week down 1.4% from record close, IXIC down 2.1% from record finish

** U.S. 10-Year Treasury yield US10YT=RR elevates to as high as 4.50% after Federal Reserve Chair Kevin Warsh's debut signals shift toward tighter rates policy, ends around 4.45% US/. Yield steadies, but bigger move still brewing

** Majority of sectors flourish: Technology and Industrials feel most rejuvenated, while defensive proxies and Energy wilt

** Tech .SPLRCT ascends 3.1%. Intel INTC.O leaps after Trump says Apple AAPL.O agreed to partner with INTC to make U.S. chips, and chip stocks rebound to touch fresh peaks

Semiconductor index .SOX surges >7%, notches new all-time high

In contrast, consulting firm Accenture ACN.N slides after downbeat sales forecast

** Communication Services .SPLRCL up 1.1%. However, Fox FOXA.O shares slump after $22 bln deal for streaming platform Roku ROKU.O

** Consumer Staples .SPLRCS loses 2.9%. Kroger KR.N falls after it reaffirms annual profit forecast, but flags rising inflation as consumers curb spending

** Healthcare .SPXHC sheds 3%. Though, Moderna MRNA.O rallies after US FDA staff says flu shot data may support use in older adults

** Energy .SPNY retreats 6.6%. Group drops as oil tumbles to lowest since start of Iran war after ceasefire agreement O/R. Crude breaks down, tests support as bearish trend builds

** Meanwhile, SpaceX SPCX.O soars after last week's blockbuster IPO, vaults past Amazon's AMZN.O market value as options listing fuels surge, then pulls back

** SPX performance YTD:

Tech	21.1%
Energy	18.6%
Industrials	16.3%
Materials	12.7%
SPX	9.6%
Real Estate	8.7%
Staples	7.2%
Utils	4.2%
Comm Svcs	3.9%
Discretionary	-1.1%
Financials	-2.5%
Healthcare	-3.8%