Banks Lead Stocks Lower Amid Interest Rate Comments

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after banks lead stocks lower amid interest rate comments. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

US futures suggest a negative open as earnings season continues

U.S. stock index futures pointed to a negative open on Thursday, as investors tracked further earnings results and monitored political events. Around 4 a.m. ET, Dow futures fell 38 points, indicating a negative open of 55.29 points. The Nasdaq and the S&P 500 futures also indicated a downbeat start to their respective trading sessions.

The S&P 500 (SPY) slipped -0.40% today. Sector decliners led advancers 7 to 5 as shown below in the sector graph. Financials (XLF) -1.50% led decliners down. Communication services (XLC), consumer discretionary (XLY), healthcare (XLV), industrials (XLI) and technology (XLK) each had minor losses of less than 1%. Consumer staples (XLP), energy (XLE), materials (XLB), real estate (XLRE) and utilities (XLU) each had small gains of less than 1%.

The Dow Jones index dropped -134 points (-0.53%) to close at 25,064. The Nasdaq gave back -29 points (-0.37%) to settle at 7,825.

Banks Lead Stocks Lower Amid Interest Rate Comments

Bank stocks led the broader market down on Thursday after President Trump said in an interview with CNBC, “he was not thrilled the Fed was raising rates.” The FOMC has raised rates twice this year and has signaled two more before year’s end. The 10 year bond yield fell to 2.83%.

Key takeaways…

I took the following CNBC screenshots this morning regarding company’s issuing earnings guidance and major market trends:

Banks Lead Stocks Lower Amid Interest Rate Comments

Banks Lead Stocks Lower Amid Interest Rate Comments

Notable S&P movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

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7/19/18

S&P 500 Sector Graph

Banks Lead Stocks Lower Amid Interest Rate Comments

S&P 500 (SPY)

Banks Lead Stocks Lower Amid Interest Rate Comments

Communication Services (XLC)

Banks Lead Stocks Lower Amid Interest Rate Comments

Consumer Discretionary (XLY)

Banks Lead Stocks Lower Amid Interest Rate Comments

Consumer Staples (XLP)

Banks Lead Stocks Lower Amid Interest Rate Comments

Energy (XLE)

Banks Lead Stocks Lower Amid Interest Rate Comments

Financials (XLF)

Banks Lead Stocks Lower Amid Interest Rate Comments

Real Estate (XLRE)

Banks Lead Stocks Lower Amid Interest Rate Comments

Healthcare (XLV)

Banks Lead Stocks Lower Amid Interest Rate Comments

Industrials (XLI)

Banks Lead Stocks Lower Amid Interest Rate Comments

Materials (XLB)

Banks Lead Stocks Lower Amid Interest Rate Comments

Technology (XLK)

Banks Lead Stocks Lower Amid Interest Rate Comments

Utilities (XLU)

Banks Lead Stocks Lower Amid Interest Rate Comments

S&P 500 Sector Heat Map

Banks Lead Stocks Lower Amid Interest Rate Comments

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