Strong Economic Data Lifts Stocks
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Strong Economic Data Lifts 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:
The S&P 500 (SPY) inched up 0.12% today after Strong Economic Data Lifts Stocks. S&P sector advancers led decliners by 6 to 4. Leading the advancers was utilities (XLU) +1%. Consumer discretionary (XLY), consumer staples (XLP), healthcare (XLV), materials (XLB) and real estate (XLRE) all were positive less than 1%. Energy (XLE), financials (XLF), industrials (XLI) and technology (XLK) all slipped less than 1%.
The Dow Jones index rose 20 points closing at 22,661. The Nasdaq gained 3 points finishing at 6,534.
Then main focal point from today’s session was the release of some strong economic data. ISM non manufacturing index hit 59.8 beating the estimate of 55.5. According to Investopedia, “By monitoring the ISM Non-Manufacturing Index, investors are able to better understand national economic conditions. When this index is increasing, investors can assume that the stock markets should increase because of higher corporate profits.”
Some bright spots and standouts from today’s action included Netflix (NFLX) surging almost 3% on a price target raise by a research firm. Interest rate sensitive ETFs such as the XLRE (real estate) and XLU (utilities) caught a bid today, gaining almost 1% and 1% respectively.
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. Quote taken from investopedia.com.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map