Positive Momentum Continues Toward Stocks

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after positive momentum continues toward stocks. 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:

Stocks open higher on optimism ahead of earnings season

Stocks also followed international markets higher on Tuesday. The Japanese Nikkei 225 rose 0.6 percent after the Bank of Japan unexpectedly trimmed its long-dated government bonds purchases. The move raised speculation that the central bank could start unwinding its stimulative policy this year. It could also signal the BOJ’s confidence in the Japanese economy is growing.

The S&P 500 (SPY) advanced 0.13% today as positive momentum continues toward stocks. S&P sector decliners led advancers by 6 to 4. Real estate (XLRE) led the decliners to the downside with a 1.14% loss on the day. Consumer staples (XLP), energy (XLE), materials (XLB), technology (XLK) and utilities (XLU) all lost ground today, falling less than 1%. Healthcare (XLV) led advancers with a 1.18% gain. Consumer discretionary (XLY), financials (XLF) and industrials (XLI) found small gains of less than 1%.

The Dow Jones index rose 102 points closing at 25,385. The Nasdaq had a minimal gain of 6 points, finishing the session at 7,163.

Optimism and positive momentum continues toward stocks as we go into earnings season, which starts on Friday with the big financials like BlackRock, JP Morgan Chase and Wells Fargo. During earnings season, companies most likely will disclose any information on the impact of the tax cuts…expected to be mostly positive.

Healthcare giant JNJ popped more than 1% today after the company’s CEO gave an upbeat interview at the JP Morgan healthcare conference. BA continued its upward climb, adding more than 2%. BA is up more than 100% over the past year. Financials (XLF) found a strong bid today with all of its top 10 holdings were in the green. The complete opposite can be said about interest rate sensitive sectors such as real estate (XLRE) and utilities (XLU), all top 10 holdings in both sectors were in the red 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.

1/9/18

S&P 500 Sector Graph

Positive Momentum Continues Toward Stocks

S&P 500 (SPY)

Positive Momentum Continues Toward Stocks

Consumer Discretionary (XLY)

Positive Momentum Continues Toward Stocks

Consumer Staples (XLP)

Positive Momentum Continues Toward Stocks

Energy (XLE)

Positive Momentum Continues Toward Stocks

Financials (XLF)

Positive Momentum Continues Toward Stocks

Real Estate (XLRE)

Positive Momentum Continues Toward Stocks

Healthcare (XLV)

Positive Momentum Continues Toward Stocks

Industrials (XLI)

Positive Momentum Continues Toward Stocks

Materials (XLB)

Positive Momentum Continues Toward Stocks

Technology (XLK)

Positive Momentum Continues Toward Stocks

Utilities (XLU)

Positive Momentum Continues Toward Stocks

S&P 500 Sector Heat Map

Positive Momentum Continues Toward Stocks

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