Retail Sales Growth Slowing Forces Market Sell Off

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as retail sales growth slowing forces market sell off. 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:

US futures pull back as investors switch focus to new earnings; Turkey crisis weighs

U.S. stock index futures came under pressure ahead of Wednesday’s open, as investors awaited fresh corporate earnings from major U.S. companies. Around 5:30 a.m. ET, Dow futures fell 50 points, indicating a negative open of -43.92 points, with the S&P 500 and Nasdaq futures also pointing to a flat to downbeat start to the day.

The S&P 500 (SPY) dropped -0.76% today. Sector decliners led advancers 9 to 3 as shown below in the sector graph. Energy (XLE) -3.54% led decliners down. Materials (XLB) -1.59%, communication services (XLC) -1.39% and consumer discretionary (XLY) -1.22% also had notable downturns. Financials (XLF), healthcare (XLV), industrials (XLI) and technology (XLK) each had minor losses of less than 1%. Safety plays such as consumer staples (XLP), real estate (XLRE) and utilities (XLU) bucked the trend, enjoying small gains of less than 1%.

The Dow Jones index gave back 137 points (-0.54%) to settle at 25,162. The Nasdaq subtracted 96 points (-1.23%) to close at 7,774.

Retail Sales Growth Slowing Forces Market Sell Off

Slowing retail sales growth in Macy’s earnings report triggered the stock to plummet and leading to an overall market selloff. The US listed Chinese tech giant Tencent reported its slowest revenue growth rate since 2015 in its earnings report. Major US tech companies such as Google, Facebook and Apple fell in response. Energy (XLE) fell 3.54% as crude oil sank more than 3% as the US sees a big rise in crude inventory.

Key Takeaways…

I took the following CNBC screenshots this morning regarding market issues, commodities drop, country ETFs YTD and sector laggards:

Retail Sales Growth Slowing Forces Market Sell Off

Retail Sales Growth Slowing Forces Market Sell Off

Retail Sales Growth Slowing Forces Market Sell Off

Retail Sales Growth Slowing Forces Market Sell Off

Notable S&P Movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

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. Photo Credit: Macysinc.com

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8/15/18

S&P 500 Sector Graph

Retail Sales Growth Slowing Forces Market Sell Off

S&P 500 (SPY)

Retail Sales Growth Slowing Forces Market Sell Off

Communication Services (XLC)

Retail Sales Growth Slowing Forces Market Sell Off

Consumer Discretionary (XLY)

Retail Sales Growth Slowing Forces Market Sell Off

Consumer Staples (XLP)

Retail Sales Growth Slowing Forces Market Sell Off

Energy (XLE)

Retail Sales Growth Slowing Forces Market Sell Off

Financials (XLF)

Retail Sales Growth Slowing Forces Market Sell Off

Real Estate (XLRE)

Retail Sales Growth Slowing Forces Market Sell Off

Healthcare (XLV)

Retail Sales Growth Slowing Forces Market Sell Off

Industrials (XLI)

Retail Sales Growth Slowing Forces Market Sell Off

Materials (XLB)

Retail Sales Growth Slowing Forces Market Sell Off

Technology (XLK)

Retail Sales Growth Slowing Forces Market Sell Off

Utilities (XLU)

Retail Sales Growth Slowing Forces Market Sell Off

S&P 500 Sector Heat Map

Retail Sales Growth Slowing Forces Market Sell Off

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