Financial Sector Send Stocks Higher
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after the Financial Sector Send 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:
The S&P 500 (SPY) inched 0.06% higher today as the Financial Sector Send Stocks Higher. S&P sector advancers led decliners by 6 to 4. Consumer discretionary (XLY), energy (XLE), financials (XLF), healthcare (XLV), industrials (XLI) and materials (XLB) all gained ground on today’s action by less than 1%. Consumer staples (XLP), real estate (XLRE), technology (XLK) and utilities (XLU) all were in the red today by less than 1%.
The Dow Jones index rose 41 points ending the day at 22,412. The NASDAQ slipped 5 points falling to 6,456.
The focal point from today’s action was the Federal Reserve meeting. The Fed announced plans to unwind its $4.5 trillion dollar balance sheet of securities, mostly acquired during the financial crisis. The Fed also did not raise interest rates, keeping them unchanged but an interest rate forecast sees a likely rate increase by the end of the year.
Some bright spots and standouts from today include Apple (AAPL) falling more than 1% after a report came out stating that there were software glitches in the new Apple Watch. Johnson & Johnson (JNJ) closed negative more than 1% after Goldman Sachs downgraded the stock to a sell. The financial sector (XLF) stood out today, with a majority of its top 10 positions in the green. At the time of the Fed announcement most major banks popped more than 1%.
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