China Trade Tweet Attack Discourage Investors

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as China trade tweet attack discourage investors. 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 higher as investors look ahead to Fed meeting, Apple earnings

U.S. stock index futures indexes were slightly higher Tuesday morning, ahead of a key meeting by the Federal Reserve. At around 01:30 a.m. ET, Dow futures rose 35 points, indicating a higher open of more than 41 points. Futures on the S&P and Nasdaq were both marginally higher.

The S&P 500 (SPY) lost -0.26% today. Sector decliners led advancers 6 to 5 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), financials (XLF), healthcare (XLV), technology (XLK) and utilities (XLU) each suffered small losses of less than 1%. Energy (XLE) +1.13% led advancers higher. Consumer staples (XLP), industrials (XLI), materials (XLB) and real estate (XLRE) each enjoyed minor gains of less than 1%.

The Dow Jones index dropped -23 points (-0.09%) to close at 27,198. The Nasdaq subtracted -19 points (-0.24%) to settle at 8,273.

China Trade Tweet Attack Discourage Investors

Stocks slid lower Tuesday as a China trade tweet attack discouraged investors. President Trump accused the Chinese of not keeping their promise of buying US agricultural products.

Investors will also look for clues from Powell about potential rate cuts later this year. Currently, traders are pricing in at least two rate cuts of 25 basis points before the end of the year, according to the CME Group’s FedWatch tool.

More than 52% of S&P 500 companies have reported quarterly results thus far. FactSet data shows 75% of those companies have posted a better-than-forecast profit.

Apple (AAPL) reported earnings after the close, as the company beat EPS and revenue estimates as it returned to revenue growth after slumping for two quarters.

Key Takeaways…

I took the following CNBC screenshots today regarding S&P earnings growth, earnings at the halfway mark, 2019 earnings update, domestic earnings growth and driving the action:

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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7/30/19

S&P 500 Sector Graph

China Trade Tweet Attack Discourage Investors

S&P 500 (SPY)

China Trade Tweet Attack Discourage Investors

Communication Services (XLC)

China Trade Tweet Attack Discourage Investors

Consumer Discretionary (XLY)

China Trade Tweet Attack Discourage Investors

Consumer Staples (XLP)

China Trade Tweet Attack Discourage Investors

Energy (XLE)

China Trade Tweet Attack Discourage Investors

Financials (XLF)

China Trade Tweet Attack Discourage Investors

Real Estate (XLRE)

China Trade Tweet Attack Discourage Investors

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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