** S&P 500 .SPX snaps nine-week winning streak, falls 2.6% as AI enthusiasm cools .N

** Dow .DJI dips 0.3%, tech-heavy Nasdaq Composite .IXIC stumbles 4.7%

** Nine days up: Nasdaq rolls on, but warning lights flicker; IXIC ends streak on Weds, tumbles Fri

** S&P 500 rally pauses as correlations .COR3M flash early warning; benchmark index also ends nine-day win streak on Weds, slides Fri

** Through end of May, momentum MTUM.K extends lead as stocks log another solid month, but to kick off Jun, defensive low volatility SPLV.P and dividends NOBL.K suddenly outperform

** Individual investor pessimism eases in early Jun. This after adding risk, tilting back to equities in May

** U.S. 10-Year Treasury yield US10YT=RR ends two-week setback, rises ~8 basis points to 4.53% area, as jobs data fuels hawkish Fed fears US/

** A minority of sectors lose ground: Consumer Discretionary, Tech and Communication Services thumped, while defensive plays and Energy stalwarts

** Consumer Discretionary .SPLRCD drops 6.2%. Lululemon LULU.O slides as US sales weaken, outlook lowered

On the flip side, MGM Resorts MGM.N leaps on over $18 billion takeover bid by Barry Diller's People IAC.O

** Tech .SPLRCT sheds 5.4%. Nvidia NVDA.O launches new AI chip as part of effort with Microsoft MSFT.O to "reinvent" PCs for the AI era, but NVDA loses ~3% on the week

Broadcom AVGO.O falls on disappointing sales, AI chip forecast

Semiconductor index .SOX pulls back 4.7%. This as chip selloff evaporates $1 trillion in market value

And from fear to FOMO: software rebound gains momentum, but iShares Expanded Tech-Software ETF IGV stalls at resistance, then retreats. IGV down ~6% for the week

In contrast, Hewlett Packard Enterprise HPE.N surges as server maker accelerates long-term financial goals by two years on robust AI demand

** Communication Services .SPLRCL loses 3.9%. Google parent Alphabet GOOGL.O falls after unveiling planned $80 billion equity raise for AI infrastructure expansion

Also, Meta META.O drops on report it's mulling big equity raise to finance AI ambitions

** Financials .SPSY up 1.3%. Berkshire Hathaway BRKa.N to buy homebuilder Taylor Morrison TMHC.N for $6.8 billion in cash, marking Greg Abel's first multi-billion-dollar acquisition since replacing Warren Buffett as CEO

Though crypto exchange Coinbase COIN.O and trading platform Robinhood HOOD.O plunge as bitcoin slumps to lowest since Oct 2024

Exchange operators including Cboe Global Markets CBOE.Z extend selloff as investors weigh potential risk from perpetual futures

Energy .SPNY up 2.5%. Group follows crude prices higher as Iran halts US talks O/R

** Meanwhile, SpaceX SPCX.O sets $135 price for blockbuster IPO, upending Wall Street convention

** SPX performance YTD:

Energy	27.4%
Tech	16.8%
Industrials	12.1%
Real Estate	11.1%
Materials	9.9%
SPX	7.9%
Staples	7.6%
Comm Svcs	4.8%
Utils	3.3%
Healthcare	-1.4%
Discretionary	-2.6%
Financials	-4.8%