Trade Rhetoric Produce Profit Taking

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as trade rhetoric produce profit taking. 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:

Dow drops 300 points as Trump reportedly plans to curb Chinese investments in US tech

Drew Angerer | Getty Images News | Getty Images Peter Boockvar, chief investment officer at Bleakley Advisory Group, said in a note there are three goals the administration wants to complete with these tariffs: to protect tech companies from Chinese theft, to lower trade barriers set by other countries relative to the U.S.

The S&P 500 (SPY) dropped -1.37% today. Sector decliners led advancers 10 to 2 as shown below in the sector graph. Consumer discretionary (XLY) -2.17%, technology (XLK) -2.08%, communication services (XLC) -2.06% and energy (XLE) -2.01% led the market lower. Materials (XLB) -1.56%, industrials (XLI) -1.27% and financials (XLF) -1.07% also added to the losses. Healthcare (XLV) and real estate (XLRE) each had minor losses of less than 1%. Utilities (XLU) +1.66% led advancers. Consumer staples (XLP) had a small gain of less than 1%.

The Dow Jones index continued its recent downturn, losing 328 points (-1.33%) to close at 24,252. The tech heavy Nasdaq plummeted 160 points (-2.09%) to settle at 7,532.

Trade Rhetoric Produce Profit Taking

All 3 major averages lost more than 1% as more trade rhetoric produce profit taking. The Dow rebounded in the last hour of trade as Peter Navarro, top trade advisor for President Trump said on CNBC that investment restrictions against China and other countries were not immediately forthcoming and the market was overreacting.

Key takeaway…

The following video clip CNBC discusses trade war stocks and the effects on the market:

These stocks are getting slammed as the trade war hits a fever pitch

The “Fast Money” traders weigh in on Tuesday’s market action and growing fears of a trade war between the U.S. and China.

Notable S&P movers…

Below I’ve highlighted the 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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6/25/18

S&P 500 Sector Graph

Trade Rhetoric Produce Profit Taking

S&P 500 (SPY)

Trade Rhetoric Produce Profit Taking

Communication Services (XLC)

Trade Rhetoric Produce Profit Taking

Consumer Discretionary (XLY)

Trade Rhetoric Produce Profit Taking

Consumer Staples (XLP)

Trade Rhetoric Produce Profit Taking

Energy (XLE)

Trade Rhetoric Produce Profit Taking

Financials (XLF)

Trade Rhetoric Produce Profit Taking

Real Estate (XLRE)

Trade Rhetoric Produce Profit Taking

Healthcare (XLV)

Trade Rhetoric Produce Profit Taking

Industrials (XLI)

Trade Rhetoric Produce Profit Taking

Materials (XLB)

Trade Rhetoric Produce Profit Taking

Technology (XLK)

Trade Rhetoric Produce Profit Taking

Utilities (XLU)

Trade Rhetoric Produce Profit Taking

S&P 500 Sector Heat Map

Trade Rhetoric Produce Profit Taking

One thought on “Trade Rhetoric Produce Profit Taking”

  1. Mike Link says:

    Good job!

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