Budget Passed Boost Financials Plus Stocks
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after a Budget Passed Boost Financials Plus Stocks. 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:
The S&P 500 (SPY) climbed 0.56% today as a Budget Passed Boost Financials Plus Stocks. S&P sector advancers led decliners by 9 to 1. Leading the way was the financials (XLF) +1.04%. The only sector in the red today was utilities (XLU) which was lower by less than 1%. The rest of the sectors gained less than 1%.
The Dow Jones index surged 113 points closing at 22,775. The Nasdaq was in the green by 50 points finishing at 6,585.
The main focal point from today’s session was the fact the House passed a budget, the first step towards tax reform. The news of this sent financials higher as the XLF +1.04% led S&P advancers today. Technology (XLK) +0.96% also had a nice day gaining just below 1%.
Some bright spots and standouts from today’s action included technology. Apple (AAPL), Microsoft (MSFT), Facebook (FB) and Google (GOOGL) finished more than 1% higher. Some of the top 10 holdings in the XLU did not catch a bid today as utilities are used as an ATM on a bullish day.
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.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map