Gradual Future Rate Hikes Spark Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Gradual Future Rate Hikes Spark Rally. 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:

http://www.cnbc.com/2017/07/12/us-stocks-fed-yellen-congress.html

The S&P 500 (SPY) rose 0.73% today as Gradual Future Rate Hikes Spark Rally. All ten sectors were positive.  Leading the rally was real estate (XLRE) +1.31%, technology (XLK) +1.30% and materials (XLB) +1.16%. Consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), healthcare (XLV), industrials (XLI) and utilities (XLU) all gained less than 1%.

The Dow Jones industrial average closed 123.07 points higher at 21,532.14, a record. The 30-stock index also notched an all-time intraday high. (CNBC) The Nasdaq composite outperformed, rising 1.1 percent to close at 6,261.17 as shares of PayPal hit a record high. (CNBC) Fed Chair Janet Yellen said the central bank is likely to start reducing its massive $4.5 trillion portfolio later this year. The Fed bolstered the portfolio, known as the balance sheet, as a way to stimulate the economy during and after the financial crisis. (CNBC) She also said the balance sheet reduction and rate increases would be gradual. (CNBC)

“We’re getting a positive reaction to her testimony,” said Jeff Kravetz, regional investment strategist at the Private Client Reserve at U.S. Bank. “What happened was she was more dovish than the market expected in her prepared remarks.” (CNBC)

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

Gradual Future Rate Hikes Spark Rally

S&P 500 (SPY)

Gradual Future Rate Hikes Spark Rally

Consumer Discretionary (XLY)

Gradual Future Rate Hikes Spark Rally

Consumer Staples (XLP)

Gradual Future Rate Hikes Spark Rally

Energy (XLE)

Gradual Future Rate Hikes Spark Rally

Financials (XLF)

Gradual Future Rate Hikes Spark Rally

Real Estate (XLRE)

Gradual Future Rate Hikes Spark Rally

Healthcare (XLV)

Gradual Future Rate Hikes Spark Rally

Industrials (XLI)

Gradual Future Rate Hikes Spark Rally

Materials (XLB)

Gradual Future Rate Hikes Spark Rally

Technology (XLK)

Gradual Future Rate Hikes Spark Rally

Utilities (XLU)

Gradual Future Rate Hikes Spark Rally

S&P 500 Sector Heat Map

Gradual Future Rate Hikes Spark Rally

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