Corporate News Lead Stocks Higher
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Corporate News Lead Stocks Higher. 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:
Brendan McDermid | Reuters “There’s been some pressure from Corporate America to improve performance, and I think this is a reflection of that,” said Maris Ogg, president at Tower Bridge Advisors. “Also, bigger companies tend to be harder to manage and grow.”
The S&P 500 (SPY) gained 0.23% today after Corporate News Lead Stocks Higher. S&P sector advancers led decliners by 9 to 1. The only sector that declined was consumer discretionary (XLY), fell less than 1%. Utilities (XLU) (+0.97%) finished a little less than 1% higher, leading the sectors for today.
The Dow Jones index climbed 60 points today closing at 22,830. The Nasdaq added 7 points ending the day at 6,587.
The main focal point from today’s session was the flurry of corporate news, from Walmart’s new $20 billion stock buyback plan to Honeywell’s plan to spin off two divisions into separate companies, corporate news filled the headlines today. Pfizer is also reportedly mulling the spin off of its consumer products division.
Some bright spots and standouts from today’s action included Walmart (WMT) rallying over 4% on its new $20 billion stock buyback plan and growth from its online business. The high dividend yielding utility sector (XLU) continues to get a strong bid as many of the sector’s top 10 holdings were gained more than 1% today.
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