China Rethinking US Economic Ties

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as China rethinking US economic ties. 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 futures slightly lower amid ongoing trade anxiety

U.S. stock index futures were slightly lower Wednesday morning, as market participants continue to monitor an intensifying trade war between the world’s two largest economies. At around 03:15 a.m. ET, Dow futures slipped 33 points, indicating a negative open of more than 29 points. Futures on the S&P and Nasdaq were both seen slightly lower.

The S&P 500 (SPY) slipped -0.28% today. Sector decliners led advancers 7 to 4 as shown below in the sector graph. Energy (XLE) led decliners down with a loss of 1.55%. Consumer discretionary (XLY) also had a loss of more than 1%. Communication services (XLC), financials (XLF), industrials (XLI), materials (XLB) and technology (XLK) each had small losses of less than 1%. Consumer staples (XLP), healthcare (XLV), real estate (XLRE) and utilities (XLU) each had minor gains of less than 1%.

The Dow Jones index was in the red by 100 points (-0.39%) to close at 25,776. The Nasdaq subtracted 34 points (-0.45%) to settle at 7,750.

China Rethinking US Economic Ties

Stocks dropped on Wednesday as trade worries lingered after the South China Morning Post reported China is considering dropping purchases of natural gas. In 2017 the Chinese bought $6.3 billion worth of US crude and liquified natural gas. May’s Federal Reserve Minutes revealed the central bank will not make any moves regarding rates “for some time.” 

Key Takeaway…

I took the following CNBC screenshot this morning regarding bracing for tariff troubles:

China Rethinking US Economic Ties

Notable S&P 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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5/22/19

S&P 500 Sector Graph

China Rethinking US Economic Ties

S&P 500 (SPY)

China Rethinking US Economic Ties

Communication Services (XLC)

China Rethinking US Economic Ties

Consumer Discretionary (XLY)

China Rethinking US Economic Ties

Consumer Staples (XLP)

China Rethinking US Economic Ties

Energy (XLE)

China Rethinking US Economic Ties

Financials (XLF)

China Rethinking US Economic Ties

Real Estate (XLRE)

China Rethinking US Economic Ties

Healthcare (XLV)

China Rethinking US Economic Ties

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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