U.S. stocks weekly: New heights

** S&P 500 SPX ascends 4th consecutive week, adds 1.5% as economic data fuels rate cut optimism

** Dow Jones Industrial Average DJI closes above 40,000 mark for first time, and SPX and Nasdaq IXIC both score new records

** This as the benchmark Treasury yield US10Y tumbles, tests 200-day moving average

** But is the Nasdaq throttling up into thin air?

** Indeed, NYSE breadth breathes easy, Nasdaq not so much

** Vast majority of sectors climb; Tech and dividend-payers vault, while just Consumer Discretionary and Industrials drag

** Tech S5INFT powers up 2.9%. Advanced Micro Devices AMD rises as Microsoft MSFT offers AMD alternative to Nvidia NVDA AI processors

Semiconductor index SOX leaps ~4%

** Communication Services S5TELS advance 1.7%. Google-owner Alphabet GOOG up after unveiling beefed-up AI search and chatbot

** Financials SPF lift 1.4%. Insurer Chubb CB hits all-time high after Buffett's Berkshire Hathaway BRK.A reveals $6.7 bln stake

** Utilities S5UTIL up 1.2%. AES Corp AES jumps after selling its Brazilian operations to power co Auren AAURE3. Utilities: Has the switch flipped in their favor?

** Consumer Staples S5CONS up 0.7%. Walmart WMT surges to record high on strong annual forecast

** Consumer Discretionary S5COND ticks down 0.1%. Home Depot HD falls on bigger-than-expected Q1 same-store-sales drop as customers delay big projects

** Industrials S5INDU sag 0.4%. Deere DE falls after second 2024 profit forecast cut, as farmers buy few fewer tractors, combine harvesters as crop prices decline

** Meanwhile, GameStop GME and AMC Entertainment AMC soar, then sink as meme stocks rally deflates

** SPX performance YTD: