Stocks Volatile Amidst Inflation Remaining Key
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after stocks volatile amidst inflation remaining key. 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:
Brendan McDermid | Reuters The major averages gave up sharp gains on Wednesday after a summary from the Federal Reserve’s January meeting sent the benchmark 10-year U.S. note yield to its highest level in four years. The Dow closed 166 points lower, having risen as much as 303 points.
The S&P 500 (SPY) gained 0.41% today as stocks volatile amidst inflation remaining key. Sector advancers beat decliners by 9 to 1 as shown in the sector graph. Real estate (XLRE) led the pack with a 1.14% gain on the day. Consumer discretionary (XLY), consumer staples (XLP), energy (XLE), healthcare (XLV), industrials (XLI), materials (XLB), technology (XLK) and utilities (XLU) all had minimal gains of less than 1%. Financials (XLF) was the only sector that settled in the red by less than 1%.
The Dow Jones index added 164 points to close at 24,962. The Nasdaq finished right below the flatline giving back 8 points ending at 7,210.
The Dow and S&P 500 had another volatile session as both indexes had a wide trading range. The Dow rose as much as 358 points only to settle 164 points higher at the close. The S&P had a similar result in the final hour of trading, giving up most of its gains while being up as much as 1% earlier in the day. The tech heavy Nasdaq extended a 4 day losing streak helped by declines in Alphabet and Netflix. The 10 year bond yield retreated from its 4 year high settling at 2.92%. The Fed meeting minutes, which were released on Wednesday indicated that inflation was on the minds at the Federal Reserve. Investors believe the Fed is on course to raise rates by 0.25 point 4 times in 2018. St. Louis Fed President James Bullard gave an interview on CNBC regarding rates.
Some notable S&P 500 movers…
- XOM +1%
- MCD +1%
- NFLX -1%
- BA +1%
- MMM +1%
- UTX +3%
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