China Considering Cash Infusions to Support Economy

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as China considering cash infusions to support economy. 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:

S&P 500 rises to an all-time high as tech shares lead, Dow gains 150 points

The S&P 500 and Nasdaq Composite rose to record highs on Wednesday as tech shares outperformed while investors continued to weigh the coronavirus’ impact on the global economy. The broad index traded 0.6% higher, breaking above a previous all-time high of 3,385.09, while the Nasdaq gained 0.9%.

The S&P 500 (SPY) rose +0.47% today. Sector advancers led decliners 7 to 4 as shown below in the sector graph. Energy (XLE) and technology (XLK) led advancers higher with gains of more than 1%. Communication services (XLC), consumer discretionary (XLY), financials (XLF), healthcare (XLV) and materials (XLB) each enjoyed minor gains of less than 1%. Real estate (XLRE) and utilities (XLU) led decliners down with losses of more than 1%. Consumer staples (XLP) and industrials (XLI) each suffered a small loss of less than 1%.

The Dow Jones index added +115 points (+0.40%) to close at 29,348. The Nasdaq climbed +84 points (+0.87%) to settle at 9,817.

China Considering Cash Infusions to Support Economy

Stocks ended in the green Wednesday as both the S&P 500 and Nasdaq hit record highs despite lingering coronavirus worries.

China’s National Health Commission on Wednesday reported an additional 1,749 cases of the coronavirus nationwide. That’s the lowest number of newly confirmed cases since late January.

Bloomberg News reported, citing people familiar with the matter, that China is considering the use of cash infusions and mergers to bail out its airline industry, which has been hit by the coronavirus.

Key Takeaways…

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 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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2/19/20

S&P 500 Sector Graph

China Considering Cash Infusions to Support Economy

S&P 500 (SPY)

China Considering Cash Infusions to Support Economy

Communication Services (XLC)

China Considering Cash Infusions to Support Economy

Consumer Discretionary (XLY)

China Considering Cash Infusions to Support Economy

Consumer Staples (XLP)

China Considering Cash Infusions to Support Economy

Energy (XLE)

China Considering Cash Infusions to Support Economy

Financials (XLF)

China Considering Cash Infusions to Support Economy

Real Estate (XLRE)

China Considering Cash Infusions to Support Economy

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

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