Market Seeks Fed Chair Clues

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as market seeks Fed Chair clues. 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:

Dow ekes out record close, erases 104-point deficit as Street bets on more gains from earnings

Andrew Burton | Getty Images The three major indexes posted record closing highs on Wednesday. The Dow rallied 160 points on a sharp move higher from IBM to finish above 23,000. U.S. stock futures fell Thursday before the open, with Dow futures briefly pulling back more than 100 points, as they followed European equities lower.

The S&P 500 (SPY) moved up 0.03% today, as the market seeks Fed Chair clues. S&P sector advancers led decliners by 6 to 4. Utilities (XLU) led the advancers today with a 1.05% gain. Consumer discretionary (XLY), financials (XLF), healthcare (XLV), industrials (XLI) and materials (XLB) were in the green by less than 1%. Consumer staples (XLP), energy (XLE), real estate (XLRE) and technology (XLK) all slipped negatively by less than 1%.

The Dow Jones  index managed a small 5-point gain closing at 23,163. The Nasdaq didn’t finish the day positive, as the closing bid fell 19-points finishing at 6,605.

The main focal point, from today’s session, was that the market is seeking clues from the next potential Fed Chair. The market rallied from early morning losses after hearing a report from Politico that the President was leaning towards hiring Federal Reserve Governor Jerome Powell to the post. A hiring of Powell would mean a continuation of the Federal Reserve regime.

Some standouts from today’s action included Apple (AAPL) falling more than 2% on a report the iPhone 8 had lackluster demand. FANG (Facebook, Amazon, Netflix, Google) had a bad day today, as each stock was down and 2 out of the 4 closed lower by 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.

10/19/17

S&P 500 Sector Graph

Market Seeks Fed Chair Clues

S&P 500 (SPY)

Market Seeks Fed Chair Clues

Consumer Discretionary (XLY)

Market Seeks Fed Chair Clues

Consumer Staples (XLP)

Market Seeks Fed Chair Clues

Energy (XLE)

Market Seeks Fed Chair Clues

Financials (XLF)

Market Seeks Fed Chair Clues

Real Estate (XLRE)

Market Seeks Fed Chair Clues

Healthcare (XLV)

Market Seeks Fed Chair Clues

Industrials (XLI)

Market Seeks Fed Chair Clues

Materials (XLB)

Market Seeks Fed Chair Clues

Technology (XLK)

Market Seeks Fed Chair Clues

Utilities (XLU)

Market Seeks Fed Chair Clues

S&P 500 Sector Heat Map

Market Seeks Fed Chair Clues

Leave a Reply

Your email address will not be published. Required fields are marked *