Trade Deal Optimism Spark Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after trade deal optimism spark rally. 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:

Wall Street set to open higher as US-Canada trade talks resume

U.S. stock index futures posted gains ahead of Wednesday’s open, as investors awaited news surrounding trade talks between the States, Mexico and Canada. Around 6:00 a.m. ET, Dow futures rose 6 points, indicating a positive open of 24.98 points, with the S&P 500 and Nasdaq futures pointing to an upbeat start to the day.

The S&P 500 (SPY) rose +0.57% today. Sector advancers led decliners 10 to 2. Consumer discretionary (XLY) +1.12% led advancers. Communication services (XLC), consumer staples (XLP), energy (XLE), healthcare (XLV), industrials (XLI), materials (XLB), technology (XLK) and utilities (XLU) each had small gains of less than 1%. Financials (XLF) and real estate (XLRE) each had minor losses of less than 1%.

The Dow Jones index was in the green by +60 points (+0.23%) to close at 26,124. The Nasdaq climbed +79 points (+0.99%) to settle at 8,109.

Trade Deal Optimism Spark Rally

Stocks continued their recent rally as trade deal optimism rises after the US and Canada have resumed trade talks. President Trump said today, “He was optimistic that Canada will join the US Mexico trade deal. Amazon (AMZN) jumped more than 3% after Morgan Stanley raised its price target to $2,500 from $1,850. At $2,500, Amazon would be valued at $1.2 trillion. Morgan Stanley also raised its price target on Alphabet (GOOGL) to $1,515 citing its driverless car division, Waymo had not been fully incorporated into expectations.

Key Takeaways…

I took the following CNBC screenshots today regarding auto stocks rev up and biggest Nasdaq 100 gainers:

Trade Deal Optimism Spark Rally

Trade Deal Optimism Spark Rally

Notable S&P Movers…

Below I’ve highlighted some notable S&P movers (both winners and losers).

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.

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8/29/18

S&P 500 Sector Graph

Trade Deal Optimism Spark Rally

S&P 500 (SPY)

Trade Deal Optimism Spark Rally

Communication Services (XLC)

Trade Deal Optimism Spark Rally

Consumer Discretionary (XLY)

Trade Deal Optimism Spark Rally

Consumer Staples (XLP)

Trade Deal Optimism Spark Rally

Energy (XLE)

Trade Deal Optimism Spark Rally

Financials (XLF)

Trade Deal Optimism Spark Rally

Real Estate (XLRE)

Trade Deal Optimism Spark Rally

Healthcare (XLV)

Trade Deal Optimism Spark Rally

Industrials (XLI)

Trade Deal Optimism Spark Rally

Materials (XLB)

Trade Deal Optimism Spark Rally

Technology (XLK)

Trade Deal Optimism Spark Rally

Utilities (XLU)

Trade Deal Optimism Spark Rally

S&P 500 Sector Heat Map

Trade Deal Optimism Spark Rally

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