Fed Meeting Minutes Reveal No Likely Rate Changes

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Fed meeting minutes reveal no likely rate changes. 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:

S&P 500 rises as ‘majority’ of Fed sees no change in rates this year

The S&P 500 rose slightly on Wednesday, as the Federal Reserve reaffirmed that it would keep rates unchanged this year. The Dow Jones industrial average pared small early gains, ending the day 7 points higher. Boeing shares weighed on the Dow, falling 1.1%, while Goldman Sachs rose 1.1%, leading the index.

The S&P 500 (SPY) rose by +0.35% today. Sector advancers led decliners 8 to 3 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), healthcare (XLV), real estate (XLRE) and technology (XLK) each had small gains of less than 1%. Industrials (XLI), materials (XLB) and utilities (XLU) each suffered minor losses of less than 1%.

The Dow Jones index gained a minimal +6 points (+0.03%) to close at 26,157. The Nasdaq jumped +54 points (+0.69%) to settle at 7,964.

Fed Meeting Minutes Reveal No Likely Rate Changes

Stocks ended in positive territory on Wednesday as the March Federal Reserve meeting minutes revealed no likely rate changes this year. In a CNBC interview, Treasury Secretary Steven Mnuchin said that the US and China have “pretty much agreed on an enforcement mechanism.” Ensuring the details of a trade agreement are followed.

Key Takeaways…

CNBC reporter Steve Liesman goes over the details of the Federal Reserve’s March meeting minutes and veteran trader Art Cashin goes over the day’s market action:

FOMC majority believe rates should remain unchanged for 2019

The majority of members on the Federal Open Market Committee have said they thought it was best to leave interest rates unchanged for the rest of 2019. CNBC’s Steve Liesman reports.

Cashin: Market getting a little help from crude

CNBC’s Bob Pisani and Art Cashin, of UBS, discuss the morning’s market activity.

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. Photo Credit: federal reserve.gov

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4/10/19

S&P 500 Sector Graph

Fed Meeting Minutes Reveal No Likely Rate Changes

S&P 500 (SPY)

Fed Meeting Minutes Reveal No Likely Rate Changes

Communication Services (XLC)

Fed Meeting Minutes Reveal No Likely Rate Changes

Consumer Discretionary (XLY)

Fed Meeting Minutes Reveal No Likely Rate Changes

Consumer Staples (XLP)

Fed Meeting Minutes Reveal No Likely Rate Changes

Energy (XLE)

Fed Meeting Minutes Reveal No Likely Rate Changes

Financials (XLF)

Fed Meeting Minutes Reveal No Likely Rate Changes

Real Estate (XLRE)

Fed Meeting Minutes Reveal No Likely Rate Changes

Healthcare (XLV)

Fed Meeting Minutes Reveal No Likely Rate Changes

Industrials (XLI)

Fed Meeting Minutes Reveal No Likely Rate Changes

Materials (XLB)

Fed Meeting Minutes Reveal No Likely Rate Changes

Technology (XLK)

Fed Meeting Minutes Reveal No Likely Rate Changes

Utilities (XLU)

Fed Meeting Minutes Reveal No Likely Rate Changes

S&P 500 Sector Heat Map

Fed Meeting Minutes Reveal No Likely Rate Changes

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