Stocks Pullback Alongside Tech Slide
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after stocks pullback alongside tech slide. 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:
The S&P 500 (SPY) dropped 0.22% today, as stocks pullback alongside tech slide. S&P sector advancers led decliners by 6 to 4. Leading the advancers to the upside was energy (XLE) +1.47%. Consumer staples (XLP), industrials (XLI), materials (XLB), real estate (XLRE) and utilities (XLU) all were positive by less than 1%. Technology (XLK) slid 1.18% today. Consumer discretionary (XLY), financials (XLF) and healthcare (XLV) all were red by less than 1%.
The Dow Jones index lost 53 points on the session falling to 22,296. The NASDAQ fell 56 points closing at 6,370.
There were a couple focal points from today’s action. First, investors became uneasy in the morning when North Korea’s Foreign Minister said President Trump’s latest comments are equivalent to declaring war on the country and has the right to shoot down any US bombers. Second, gains in the energy sector (XLE) were basically cancelled out by losses in the technology sector (XLK).
Some bright spots and standouts from today’s session included Facebook (FB) falling 4.5%, as investors lowered their growth stock exposure. Exxon Mobil (XOM) popped 1.3%, as oil rallied 3% today. The utility sector (XLU) nearly gained 1%, as North Korea’s latest comments spooked some investors into safe haven stocks such as utilities.
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