Strong Jobs Report Produces Index Record Highs
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after strong jobs report produces index record highs. 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 “It was another solid report, but wages were a disappointing factor,” said Craig Bishop, vice president of U.S. fixed income at RBC Wealth Management. Average hourly earnings – a closely watched component of the report – rose 0.2 percent for November and 2.5 percent for the year.
The S&P 500 (SPY) rose by 0.55% as strong jobs report produces index record highs. S&P sector advancers led decliners by 10 to 0. Healthcare (XLV) led the charge with a 1.12% gain. The 9 remaining sectors had a gain of less than 1%.
The Dow Jones index advanced 117 points closing at a record high of 24,329. The Nasdaq joined the rally party by closing at 6,840 by adding 27 points.
Some focal points from today’s session included a stronger than expected jobs report gave stocks a boost on the last trading day of the week. The workforce added 228,000 jobs versus an estimation of 200,000 given by Reuters. The unemployment rate remains at 4.1%.
Some standouts on a rather bullish day included MSFT popping 2% on an analyst upgrade. In the financial sector, JPM found a strong bid of +1%. Netflix advanced 1% in consumer discretionary. Consumer staples stock Costco was +1%. Insurer UnitedHealth helped XLV with a 1% gain. Finally, aircraft giant Boeing jumped 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