Financials Plus Tech Drag Stocks Lower

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after financials plus tech drag stocks lower. 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 drop ahead of the open, as trade, oil tensions ratchet up another gear

Michael Nagle | Bloomberg | Getty Images Markets around the world have been on a rollercoaster ride in recent weeks as fears around trade tensions between the U.S. and other major economies escalate. Not only is the U.S. in a tit-for-tat war of words with China on tariffs, but now the European Union is involved.

The S&P 500 (SPY) gave back -0.86% today. Sector decliners led advancers 10 to 2 as shown below in the sector graph. Technology (XLK) -1.36%, consumer discretionary (XLY) -1.29% and financials (XLF) -1.27% led decliners down. Communication services (XLC), consumer staples (XLP), healthcare (XLV), industrials (XLI), materials (XLB) and real estate (XLRE) each had minor losses of less than 1%. Energy (XLE) +1.34% was the top advancer. Utilities (XLU) had a small gain of less than 1%.

The Dow Jones index slipped -0.68%, dropping 165 points to close at 24,117. The tech heavy Nasdaq faltered 116 points (-1.54%) to settle at 7,445.

Financials Plus Tech Drag Stocks Lower

Both the financial and tech sector pushed stocks lower on Wednesday as both sectors each lost more than 1%, canceling out some good news regarding trade policy. The Dow was up more than 200 points in the morning before closing 165 points lower. Financials (XLF) has a current losing streak of 13 days and is down more than 4% in the past month. Amazon, Facebook, Google and Netflix each were lower by at least 1%.

Key takeaways…

The following is a CNBC screenshot displaying the financials recent underperformance and a video clip with veteran NYSE trader Art Cashin explaining why markets are rebalancing as the month comes to an end:

Financials Plus Tech Drag Stocks Lower

Markets rebalancing as end of month nears, says Art Cashin

Art Cashin of UBS talks about uncertainty in the markets as the end of the quarter approaches and investors reweight portfolios.

Notable S&P movers…

I’ve highlighted below 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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6/27/18

S&P 500 Sector Graph

Financials Plus Tech Drag Stocks Lower

S&P 500 (SPY)

Financials Plus Tech Drag Stocks Lower

Communication Services (XLC)

Financials Plus Tech Drag Stocks Lower

Consumer Discretionary (XLY)

Financials Plus Tech Drag Stocks Lower

Consumer Staples (XLP)

Financials Plus Tech Drag Stocks Lower

Energy (XLE)

Financials Plus Tech Drag Stocks Lower

Financials (XLF)

Financials Plus Tech Drag Stocks Lower

Real Estate (XLRE)

Financials Plus Tech Drag Stocks Lower

Healthcare (XLV)

Financials Plus Tech Drag Stocks Lower

Industrials (XLI)

Financials Plus Tech Drag Stocks Lower

Materials (XLB)

Financials Plus Tech Drag Stocks Lower

Technology (XLK)

Financials Plus Tech Drag Stocks Lower

Utilities (XLU)

Financials Plus Tech Drag Stocks Lower

S&P 500 Sector Heat Map

Financials Plus Tech Drag Stocks Lower

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