Stocks Rebound Against Correction Lows
Here is a weekly recap of the S&P 500 broken down by sector (YTD %, holding weighting and % of portfolio in top 10 holdings) followed by sector heat map after stocks rebound against correction lows. 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 week in review provided by CNBC:
President Trump addresses the nation after 17 die in school shooting, 13 Russian nationals charged with committing federal crimes, and Chloe Kim discusses winning the gold.
The S&P 500 (SPY) rose 4.3% this week as stocks rebound against correction lows. Every sector gained at least 1% this week. Technology (XLK) led the pack with a 5.75% weekly advancement. Sectors that gained 4% this week included financials (XLF), healthcare (XLV) and industrials (XLI). Consumer discretionary (XLY), consumer staples (XLP), materials (XLB) and utilities (XLU) all had 3% weekly gains. Energy (XLE) added 2% on the week and real estate (XLRE) barely missed a 2% gain on the week (+1.96%).
The Dow Jones index also added 4% this week. However, the Nasdaq led the 3 major averages with a 5% addition for the week.
The week started with stocks coming back from the correction lows of last week. The 10 year bond yield continued to a big factor this week as it remained close to multi year highs. The consumer price index (CPI), which measures inflation data, came in stronger than expected. Inflation leads to higher interest rates. Investors started getting used to higher rates as both interest rates and stocks went higher on Wednesday and Thursday. Both the Dow and the S&P finished the week with a six day winning streak as the 10 year bond yield fell back from its multi year highs.
Here is how the S&P 500’s top 10 holdings did this week…
- AAPL +10%
- MSFT +4%
- AMZN +8%
- FB +less than 1%
- JPM +4%
- BRK.B +4%
- JNJ +3%
- GOOGL +4%
- GOOG +4%
- XOM +1%
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