Economy Alongside Trade Provide Roller Coaster

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as the economy alongside trade provide roller coaster. 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 a slightly higher open

U.S. stock index futures were slightly higher on Tuesday morning. At around 01:30 a.m. ET, Dow futures rose 33 points, indicating a positive open of more than 19 points. Futures on the S&P and Nasdaq were both slightly higher. Wall Street rose sharply on Monday as a rebound in bond yields continued, easing ongoing recession fears.

The S&P 500 (SPY) dropped -0.79% today. 10 out 11 sectors finished in the red as shown below in the sector graph. Consumer staples (XLP), financials (XLF) and materials (XLB) led the market lower each losing more than 1%. Communication services (XLC), energy (XLE), healthcare (XLV), industrials (XLI), real estate (XLRE), technology (XLK) and utilities (XLU) each suffered minor losses of less than 1%. Consumer discretionary (XLY) was the only sector to squeeze out a small gain of less than 1%.

The Dow Jones index subtracted -173 points (-0.66%) to close at 25,962. The Nasdaq gave back -54 points (-0.68%) to settle at 7,948.

Economy Alongside Trade Provide Roller Coaster

All 3 major averages finished lower on Tuesday as yields fall as well as stocks. “When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started,” said Brian Nick, chief investment strategist at Nuveen, noting the market is back where it was a year ago. “We haven’t gone much of anywhere because the economy is moving ahead, but the trade war is setting up these intermittent potholes and the global economy keeps slowing in the background.”

The benchmark 10-year yield fell about 5 basis points on Tuesday, or 0.05 percentage points, to 1.54%.

Key Takeaways…

I took the following CNBC screenshots today regarding recent rally, cyclical rally and the bull case:

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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8/20/19

S&P 500 Sector Graph

Economy Alongside Trade Provide Roller Coaster

S&P 500 (SPY)

Economy Alongside Trade Provide Roller Coaster

Communication Services (XLC)

Economy Alongside Trade Provide Roller Coaster

Consumer Discretionary (XLY)

Economy Alongside Trade Provide Roller Coaster

Consumer Staples (XLP)

Economy Alongside Trade Provide Roller Coaster

Energy (XLE)

Economy Alongside Trade Provide Roller Coaster

Financials (XLF)

Economy Alongside Trade Provide Roller Coaster

Real Estate (XLRE)

Economy Alongside Trade Provide Roller Coaster

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

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