Corporate Earnings Flood Wall Street
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Corporate Earnings Flood Wall Street. 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:
Earnings season kicked off last week with JPMorgan Chase, Citigroup and Bank of America releasing their results. Goldman Sachs, Morgan Stanley, Verizon and Honeywell are among the companies set to report this week. “This week is important because you’ve got companies from almost each sector reporting, so you’re going to get a good picture” of Corporate America’s health, said Quincy Krosby, chief market strategist at Prudential Financial.
The S&P 500 (SPY) melted up 0.18% today as Corporate Earnings Flood Wall Street. S&P sector advancers led decliners by 6 to 4. Sectors getting a bid today included consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), industrials (XLI) and technology (XLK) all gained less than 1%. Healthcare (XLV), materials (XLB), real estate (XLRE) and utilities (XLU) all lost ground today falling by less than 1%.
The Dow Jones index added 85 points today closing at 22,956. The Nasdaq advanced 18 points finishing at 6,624.
The main focal point from today’s session was the flood of corporate earnings that hit Wall Street this week. Major S&P 500 companies reporting earnings starts this afternoon with Netflix, which popped in extended hours after beating EPS and revenue estimates in its earnings report. Other major companies reporting earnings this week include Johnson & Johnson, Goldman Sachs, IBM, United Health Group, Verizon, PayPal, General Electric, P&G among others. At the end of the week we should have a better understanding of how earnings season is going and how the economy is doing.
Some bright spots and standouts from today’s action included Apple (AAPL) which caught a strong bid of over 1% as Key Bank raised its price target. JP Morgan Chase (JPM) jumped over 2% as a majority of the XLFs top 10 holdings continued with strong gains in the rising rate environment.
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. Earnings calendar provided by Earnings Whispers.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map