Conciliatory Tone Regarding Trade Spark Bullishness

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as a conciliatory tone regarding trade spark bullishness. 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:

US futures point to slightly lower open

U.S. stock index futures were slightly lower Thursday morning.

The S&P 500 (SPY) rose by +0.08% today. Sector advancers led decliners 8 to 3 as shown below in the sector graph. Real estate (XLRE) led advancers higher with a gain of 1%. Communication services (XLC), consumer discretionary (XLY), financials (XLF), healthcare (XLV), industrials (XLI), materials (XLB) and utilities (XLU) each enjoyed small gains of less than 1%. Consumer staples (XLP), energy (XLE) and technology (XLK) each suffered minor losses of less than 1%.

The Dow Jones index ended just below the flatline, losing -1 point (-0.01%) to close at 27,781. The Nasdaq did the same, dropping -3 points (-0.04%) to settle at 8,479.

Conciliatory Tone Regarding Trade Spark Bullishness

Stocks finished mixed Thursday as trade questions and varied earnings limit gains.

Cisco Systems dropped 7.3% on disappointing guidance while Walmart dropped 0.3% after hitting an all-time high.

“The run-up was fueled by signs of a more conciliatory tone around trade,” said Keith Buchanan, portfolio manager at GLOBALT. “The news flow over the past week has turned a bit more normal and the market really hasn’t come off its highs in any meaningful way.”

Talks between the U.S. and China are thought to have hit a snag over agricultural purchases. The Wall Street Journal reported on Wednesday that Beijing is resisting requests from the White House to curb tech transfers as well as enforcement mechanisms. China is also reportedly wary about committing to specific farm purchases from the U.S.

Chinese Ministry of Commerce spokesman Gao Feng said overnight that both countries are holding “in-depth” discussions about a phase one deal, but noted that the rolling back of some tariffs is key to reaching an agreement.

Key Takeaways…

I took the following CNBC screenshots today regarding retail winners 2019, retail trends, explosion of optimism, retail investor, breakout of bullishness 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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11/14/19

S&P 500 Sector Graph

Conciliatory Tone Regarding Trade Spark Bullishness

S&P 500 (SPY)

Conciliatory Tone Regarding Trade Spark Bullishness

Communication Services (XLC)

Conciliatory Tone Regarding Trade Spark Bullishness

Consumer Discretionary (XLY)

Conciliatory Tone Regarding Trade Spark Bullishness

Consumer Staples (XLP)

Conciliatory Tone Regarding Trade Spark Bullishness

Energy (XLE)

Conciliatory Tone Regarding Trade Spark Bullishness

Financials (XLF)

Conciliatory Tone Regarding Trade Spark Bullishness

Real Estate (XLRE)

Conciliatory Tone Regarding Trade Spark Bullishness

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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