Easing Bank Regulations Turn Stocks Green

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as easing bank regulations turn stocks green. 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 flat after a sharp sell-off on Wall Street amid rising virus fears

Stocks futures opened flat in overnight trading on Wednesday, following a steep market sell-off triggered by intensifying worries about a coronavirus resurgence. Futures on the Dow Jones Industrial Average rose about 20 points. The S&P futures and the Nasdaq 100 futures were little changed. Trading volumes were thin.

The S&P 500 (SPY) rose +1.10% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Gains ranged from +2.65% to less than 1%. Utilities (XLU) fell -.1.24%.

The Dow Jones index added +299 points (+1.18%) to close at 25,745. The Nasdaq climbed +107 points (+1.09%) to settle at 10,017.

Easing Bank Regulations Turn Stocks Green

Stocks ended higher Thursday as the financial sector led the S&P higher as investors applauded easing banking regulations.

The Federal Deposit Insurance Commission said it would allow banks to more easily make large investments into funds such as venture capital funds. Also, banks will not have to set aside cash for derivatives traders between different affiliates of the same firm, potentially freeing up more capital.

Shares of the major banks jumped to their highs of the day in the final hour of trading as investors looked ahead to the Federal Reserve releasing stress-test results for the major banks. Those results are set for release after the close.

Fed puts restrictions on bank dividends after test finds some banks could be stressed in pandemic

The Federal Reserve put new restrictions on the U.S. banking industry Thursday after its annual stress test found that several banks could get uncomfortably close to minimum capital levels in scenarios tied to the coronavirus pandemic.

Florida reported on Thursday 5,004 additional coronavirus cases. That’s slightly down from the state’s single-day record of 5,508, which was reported Wednesday. In Arizona, cases jumped by 5.1%, topping the state’s seven-day average of 2.3%. Meanwhile, Texas Gov. Greg Abbott said the state would pause its reopening plans given the recent spike in cases and hospitalizations.

This recent uptick comes after the U.S. suffered its single-biggest daily coronavirus cases surge on record. More than 45,000 new coronavirus cases were confirmed on Wednesday, a record that surpassed the previous April 26 peak by over 9,000 cases, according to an NBC News tally.

An additional 1.48 million Americans filed for unemployment benefits last week, the Labor Department said. Economists polled by Dow Jones expected a print of 1.35 million. This marks the second straight week that U.S. jobless claims data was worse than expected. However, continuing claims fell by more than 700,000 last week.

Key Takeaway…

An additional 1.48 million Americans filed for unemployment benefits last week, the Labor Department said. Economists polled by Dow Jones expected a print of 1.35 million. This marks the second straight week that U.S. jobless claims data was worse than expected. However, continuing claims fell by more than 700,000 last week.

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.

Download our new Handy ETF Guide

Subscribe to get our free weekly newsletter by email.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

6/25/20

S&P 500 Sector Graph

Easing Bank Regulations Turn Stocks Green

S&P 500 (SPY)

Easing Bank Regulations Turn Stocks Green

Communication Services (XLC)

Easing Bank Regulations Turn Stocks Green

Consumer Discretionary (XLY)

Easing Bank Regulations Turn Stocks Green

Consumer Staples (XLP)

Easing Bank Regulations Turn Stocks Green

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).

Energy (XLE)

Easing Bank Regulations Turn Stocks Green

Financials (XLF)

Easing Bank Regulations Turn Stocks Green

Real Estate (XLRE)

Easing Bank Regulations Turn Stocks Green

Healthcare (XLV)

Easing Bank Regulations Turn Stocks Green

Industrials (XLI)

Easing Bank Regulations Turn Stocks Green

Materials (XLB)

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.

Technology (XLK)

Easing Bank Regulations Turn Stocks Green

Utilities (XLU)

S&P 500 Sector Heat Map

 

Leave a Reply

Your email address will not be published. Required fields are marked *