Walmart Earnings Pressure Stocks Lower
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Walmart earnings pressure stocks lower. 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:
BRYAN R. SMITH | AFP | Getty Images U.S. stock index futures fell into the red ahead of Tuesday’s open. At around 5:00 a.m. ET, Dow futures were down 200 points, indicating a fall of 170.38 points at the open. The Nasdaq and S&P 500 futures also pointed to a negative open for their respective markets.
The S&P 500 (SPY) dropped 0.58% today as Walmart earnings pressure stocks lower. S&P sector decliners led advancers 9 to 1. Consumer staples (XLP) led decliners to the downside with a 2.27% loss on the day. Healthcare (XLV), industrials (XLI), real estate (XLRE) and utilities (XLU) all had 1% or more declines. Consumer discretionary (XLY), energy (XLE), financials (XLF) and materials (XLB) all had minimal losses of less than 1%. Technology (XLK) was the only sector to finish in the green today by adding less than 1%.
The Dow Jones index lost 254 points (-1%) today finishing below 25k at 24,964. The Nasdaq fell right below the flatline giving back 5 points settling at 7,234.
Both the Dow and the S&P 500 snapped a six day win streak as Walmart dropped 10% on disappointing earnings, pressuring both indexes lower. The 10 year bond yield also contributed to stocks seeing red, rising to 2.88% after hitting a multi year high last week. Inflation remains a concern for investors as higher inflation might lead the Fed to tighten monetary policy (raise rates) faster than expected.
Some notable movers in the S&P 500…
- AMZN +1%
- JNJ -1%
- XOM -1%
- WMT -10%
- PG -1%
- COST -1%
- Consumer Staples (XLP) had 9 out of its top 10 holdings lose 1% or more
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