Stocks Deflate Following Fed Hinting Additional Hikes

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as stocks deflate following Fed hinting additional hikes. 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 stocks set to open relatively flat ahead of Fed rate decision

U.S. stock index futures fluctuated ahead of Wednesday’s open, as investors switched focus to the U.S. central bank. Around 5:55 a.m. ET, Dow futures rose 31 points, indicating a positive open of 16.27 points. The Nasdaq and the S&P 500 futures indicated a flat to upbeat start to the session for their respective markets.

The S&P 500 (SPY) dropped -0.40% today. Sector decliners led advancers 9 to 2 as shown below in the sector graph. Real estate (XLRE) led decliners down with a loss of 2.23%. Materials (XLB) fell back -1.08% on the day. Consumer staples (XLP), energy (XLE), financials (XLF), industrials (XLI), technology (XLK) and utilities (XLU) each had minor losses of less than 1%. Consumer discretionary (XLY) and healthcare (XLV) each came away with small gains on the day of less than 1%.

The Dow Jones index gave back 119 points (-0.47%) to finish at 25,201. The Nasdaq closed just below the flatline, losing 8 points (-0.11%) to settle at 7,695.

Stocks Deflate Following Fed Hinting Additional Hikes

The Federal Reserve raised interest rates 25 basis points as widely expected but hinted at 2 more hikes in 2018, one more than expected. Majority of media companies were up on the session following a judge’s decision to approve the AT&T Time Warner merger.

Key takeaways…

I took the following CNBC screenshots this morning regarding market leaders, market movers and the Fed watch:

Stocks Deflate Following Fed Hinting Additional Hikes

Stocks Deflate Following Fed Hinting Additional Hikes

Stocks Deflate Following Fed Hinting Additional Hikes

Notable S&P movers…

I’ve highlighted below the 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.

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6/13/18

S&P 500 Sector Graph

Stocks Deflate Following Fed Hinting Additional Hikes

S&P 500 (SPY)

Stocks Deflate Following Fed Hinting Additional Hikes

Consumer Discretionary (XLY)

Stocks Deflate Following Fed Hinting Additional Hikes

Consumer Staples (XLP)

Stocks Deflate Following Fed Hinting Additional Hikes

Energy (XLE)

Stocks Deflate Following Fed Hinting Additional Hikes

Financials (XLF)

Stocks Deflate Following Fed Hinting Additional Hikes

Real Estate (XLRE)

Stocks Deflate Following Fed Hinting Additional Hikes

Healthcare (XLV)

Stocks Deflate Following Fed Hinting Additional Hikes

Industrials (XLI)

Stocks Deflate Following Fed Hinting Additional Hikes

Materials (XLB)

Stocks Deflate Following Fed Hinting Additional Hikes

Technology (XLK)

Stocks Deflate Following Fed Hinting Additional Hikes

Utilities (XLU)

Stocks Deflate Following Fed Hinting Additional Hikes

S&P 500 Sector Heat Map

Stocks Deflate Following Fed Hinting Additional Hikes

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