Tech Outweighs Energy Losses
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Tech Outweighs Energy Losses in today’s session. 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) closed higher by 0.15% today as Tech Outweighs Energy Losses. S&P sector decliners led advancers by 6 to 4. Leading the decliners to the downside was energy (XLE) -2.03%. Consumer discretionary (XLY), consumer staples (XLP), materials (XLB), real estate (XLRE) and utilities (XLU) all fell less than 1%. Tech (XLK) +0.99% led the advancers. Financials (XLF), healthcare (XLV) and industrials (XLI) all gained less than 1%.
U.S. stocks closed mostly higher on Wednesday tech snapped a three-day losing streak. (CNBC) The Nasdaq composite rose 0.7 percent, with Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all closing higher. (CNBC) The Dow Jones industrial average, however, closed around breakeven, with IBM contributing the most losses and Boeing the most gains. The 30-stock index remained around those levels after the Federal Reserve released the minutes from its June meeting. (CNBC)
“Tech has been a strong performer for a very long time, so it’s not that surprising to see some weakness every now and then,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab. “I think people are also warming up to the idea that interest rates may be going higher, so you’ve seen a move into financials.” (CNBC) Energy stocks tumbled on Wednesday as oil fell 3% to $45.62 a barrel and raised uncertainty on OPEC production cuts.
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. Photo Credit: Amazon.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