Big Tech Proving Coronavirus Immunity

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as big tech proving Coronavirus immunity. 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:

Stock futures steady as Wall Street awaits latest jobless claims figures

Futures contracts tied to the major U.S. stock indexes held steady at the start of the overnight session Wednesday evening, suggesting investors may be waiting to pore over the latest jobless claims data on Thursday. Dow Jones Industrial Average futures rose 25 points, implying an opening loss of about 12 points.

The S&P 500 (SPY) jumped +1.15% today. Sector advancers led decliners 9 to 2 as shown below in the sector graph. Gains ranged from +2.60% to less than 1%, check the sector graph for specifics. Consumer staples (XLP) and healthcare (XLV) slipped less than 1%.

The Dow Jones index climbed +211 points (+0.89%) to close at 23,875. The Nasdaq advanced +125 points to settle at 8,979.

Big Tech Proving Coronavirus Immunity

Stocks ended higher Thursday as big tech mounted a continued comeback as the economy begins to reopen soon.

The Nasdaq’s rebound was led in large part by sharp gains in big tech stocks such as Facebook, Amazon, Apple, Netflix and Alphabet. Those stocks are all up at least 15.8% this quarter and are positive for 2020. Microsoft, another major tech stock, has rallied more than 16% this year and for the quarter.

“While we have all become even more dependent on the products and services provided by the FAANGMs during the Great Virus Crisis, they might have become more immune to government regulation,” wrote Ed Yardeni, president and chief investment strategist at Yardeni Research. “They have great balance sheets and generate lots of cash flow.”

Thursday’s gains came even as another 3.17 million Americans filed for unemployment benefits last week, bringing the seven-week total to 33.5 million. But while jobless claims continue to rise, last week’s tally was the lowest since shortly after the coronavirus was declared a pandemic.

Key Takeaways…

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 movers (both winners & 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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5/7/20

S&P 500 Sector Graph

Big Tech Proving Coronavirus Immunity

S&P 500 (SPY)

Big Tech Proving Coronavirus Immunity

Communication Services (XLC)

Big Tech Proving Coronavirus Immunity

Consumer Discretionary (XLY)

Big Tech Proving Coronavirus Immunity

Consumer Staples (XLP)

Big Tech Proving Coronavirus Immunity

Energy (XLE)

Big Tech Proving Coronavirus Immunity

Financials (XLF)

Big Tech Proving Coronavirus Immunity

Episode 1: Basic Investment Strategy – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 1: Basic Investment Strategy Episode 1 goes over my basic investment strategy for individual investors (from years of watching and learning from CNBC).

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Episode 2: Building a Diversified Portfolio – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 2: Building a Diversified Portfolio In this episode, I go over 5 stocks to build a diversified portfolio on. These are 5 stocks to hold for the long term in a retirement account such as a Roth or traditional IRA account.

Utilities (XLU)

S&P 500 Sector Heat Map

 

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