Inflation Fears Leave Stocks Mixed
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after inflation fears leave stocks mixed. 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) slipped 0.11% today, as inflation fears leave stocks mixed. S&P sector advancers led decliners by 6 to 4. Energy (XLE), healthcare (XLV), industrials (XLI), materials (XLB), real estate (XLRE) and utilities (XLU) all gained less than 1%. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF) and technology (XLK) all were negative on the day less than 1%.
The Dow Jones index was in the green by 45 points on the day of closing at 22,203. The Nasdaq was in the red by 31 points closing at 6,429.
The focal point from today’s session was inflation after the consumer price index rose more than expected. Consumers saw higher prices in gasoline and rent. Market expectations of a December rate hike increased to over 50% from less than 50% when the data was released. The yield on the 10-year treasury bond briefly moved higher on the inflation data.
Some bright spot standouts from today’s session included Johnson & Johnson (JNJ) and Pfizer (PFE). The two pharmaceutical giants gained more than 1% on the day. Industrial and momentum stock Boeing (BA) continued its surge this year, rising more than 1% today. Boeing is up more than 59% YTD.
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