Stocks Close Mixed Against Tech Continued Gains
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after stocks close mixed against tech continued gains. 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:
But the Senate’s bill is different than another one passed by the House. Now both chambers have to work on and pass a new bill before sending it to the White House. “We’re still in the rumor stage since nothing is final yet,” said Nick Raich, CEO of The Earnings Scout.
The S&P 500 (SPY) lost 0.01% today (barely moved) as stocks close mixed against tech continued gains. S&P sector advancers tied decliners by 5 to 5. All 5 sector advancers gained less than 1%…consumer staples (XLP), industrials (XLI), real estate (XLRE), technology (XLK) and utilities (XLU). Decliners were led by energy (XLE) -1.30%. These sector decliners fell less than 1%…consumer discretionary (XLY), financials (XLF), healthcare (XLV) and materials (XLB).
The Dow Jones index lost ground by 39 points closing at 24,140. The Nasdaq was the only index to gain on the day adding 14 points ending at 6,776.
Here are some focal points coming from today’s session. Tech (XLK) posted consecutive gains after falling over the past week. Tech’s gains were led by Facebook today. Washington leaders from both the House and Senate work on the tax bill. Both chambers will have to pass a bill before sending it to the White House for the President’s signature.
Facebook led the standouts today as it popped nearly 2% on an upgrade to outperform. The upgrade mentioned Facebook will lead the FANG stocks (Facebook, Amazon, Netflix and Google) next year. Blue chip stocks like JNJ, MSFT and GOOGL also found 1% gains. Energy (XLE) took it on the chin today falling 1.30% after all 10 of its top 10 holdings were in the red for the day.
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