The S&P 500 snapped a three-week winning streak as rising Treasury yields weighed on the market. Some individual stocks nonetheless moved into overbought territory, with their 14-day relative strength index (RSI) crossing above the 70 threshold. Moderna was the strongest weekly gainer with a surge of 129%, while Merck gained 12%, both companies having announced positive results for an experimental personalized cancer vaccine in late-stage trials. Estee Lauder also entered overbought territory with an 18% weekly gain, driven by quarterly results beating expectations and an upward revision to its fiscal year 2027 outlook.
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