Strong Black Friday Sales Lift Stocks
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after strong black Friday sales lift stocks. 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 Dow Jones industrial average rose 22.79 points to close at 23,580.78 points higher, just missing a record close. However, the index did manage to hit an intraday record of 23,638.92. The S&P 500 fell 0.04 percent to close at 2,601.42, as a 6.7 percent pullback in Western Digital offset a 4 percent gain in L Brands.
The S&P 500 dropped 0.04% (flat) today as Strong Black Friday Sales Lift Stocks. S&P sector advancers led decliners by 6 to 4. Consumer discretionary (XLY), consumer staples (XLP), healthcare (XLV), industrials (XLI), technology (XLK) and utilities (XLU) all gained less than 1%. Energy (XLE) led decliners down by losing 1.02%. Financials (XLF), materials (XLB) and real estate (XLRE) all lost ground today by less than 1%.
The Dow Jones index added 22 points closing at 23,580. The Nasdaq slipped 10 points ending at 6,878.
The main focal point from today’s session was the strong sales that came from Black Friday. Adobe analytics showed online Black Friday sales rose 17% from last year. The Senate is also expected to vote on a tax reform bill this week.
Some bright spots and standouts from today’s action included retailers Home Depot (HD) and Amazon (AMZN) having modest gains today on the backs of strong Black Friday sales. Verizon (VZ) popped more than 1% today and utilities (XLU) received a strong bid as its top 10 holdings all were up.
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