Record Bull Market Ignores Washington Noise

Here is a weekly recap of the S&P 500 broken down by sector (holding weightings %, YTD % and % of portfolio in top 10 holdings) followed by sector heat map as record bull market ignores Washington noise. 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 this week’s action on Wall Street provided by CNBC:

Week in Review: Trump’s legal woes heat up

Former Trump lawyer Michael Cohen pleads guilty to violating federal campaign finance laws, former Trump campaign manager Paul Manafort found guilty on 8 counts relating to tax and bank fraud, plus David Pecker National Enquirer Chairman and Trump CFO Allen Weisselberg are granted immunity.

The S&P 500 (SPY) gained +0.86% this past week. Sector advancers beat decliners 9 to 3 as shown below in the sector graph. Energy (XLE) +2.66%, consumer discretionary (XLY) +2.12%, communication services (XLY) +1.71%, technology (XLK) +1.54% and materials (XLB) +1.20% led advancers higher. Financials (XLF). healthcare (XLV) and industrials (XLI) each had minor gains of less than 1%. Consumer staples (XLP) -1.74% and utilities (XLU) -1.45% led decliners down. Real estate (XLRE) had a small loss of less than 1%.

The Dow Jones index (DIA) added +0.52% this past week. The Nasdaq (QQQ) advanced +1.46%.

Record Bull Market Ignores Washington Noise

Stocks rose on Monday as the S&P 500 approached its record high it set in January. A majority of stocks finished with gains on Tuesday as the S&P 500 reached a new intraday high passing a high reached in January. Strong earnings from retailer Target (TGT) helped lift investor sentiment as Wall Street digest more White House legal woes on Wednesday. The constant Washington news put stocks in the red Thursday as investors review the Washington noise. All 3 major indexes rose on Friday after the Fed characterized the economy as “strong.”

Key Takeaways…

I took the following CNBC screenshots this past week:

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Record Bull Market Ignores Washington Noise

Weekly Performance of S&P 500 (SPY) Top 10 Holdings:

  • AAPL -0.65%
  • MSFT +0.76%
  • AMZN +1.23%
  • FB +0.49%
  • BRK.B -0.08%
  • JPM -0.08%
  • GOOG +1.64%
  • GOOGL +1.72%
  • JNJ +1.10%
  • XOM +1.74%

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.

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S&P 500 Sector Graph

Record Bull Market Ignores Washington Noise

S&P 500 (SPY)

Record Bull Market Ignores Washington Noise

Communication Services (XLC)

Record Bull Market Ignores Washington Noise

Consumer Discretionary (XLY)

Record Bull Market Ignores Washington Noise

Consumer Staples (XLP)

Record Bull Market Ignores Washington Noise

Energy (XLE)

Record Bull Market Ignores Washington Noise

Financials (XLF)

Record Bull Market Ignores Washington Noise

Real Estate (XLRE)

Record Bull Market Ignores Washington Noise

Healthcare (XLV)

Record Bull Market Ignores Washington Noise

Industrials (XLI)

Record Bull Market Ignores Washington Noise

Materials (XLB)

Record Bull Market Ignores Washington Noise

Technology (XLK)

Record Bull Market Ignores Washington Noise

Utilities (XLU)

Record Bull Market Ignores Washington Noise

S&P 500 Sector Heat Map

Record Bull Market Ignores Washington Noise

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