Flight to Safety Jolt Stocks

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as flight to safety jolt stocks. 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 bounce slightly in overnight trading following the Dow’s 1,000 point rout

Stock futures bounced a bit on Monday evening following the market’s worst decline in two years on coronavirus fears. Futures on the Dow Jones Industrial Average were up by 34 points, while S&P 500 futures were higher by 0.2%.

The S&P 500 (SPY) dropped -3.03% today. All 11 sectors fell by at least 1%. Energy (XLE), industrials (XLI) and materials (XLB) led all sectors down with losses of 4%. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), financials (XLF), healthcare (XLV), real estate (XLRE), technology (XLK) and utilities (XLU) all ranged from losing 1% to 3%.

The Dow Jones index plummeted -879 points (-3.15%) to close at 27,081. The Nasdaq landed in the red by -255 points (-2.77%) to settle at 8,965.

Flight to Safety Jolt Stocks

Stocks continued their recent losses Tuesday as a flight to safety to US treasuries & US officials comments regarding a possible outbreak of the coronavirus in the US worried investors.

A combination of factors spooked investors and caused the Dow to turn negative after starting the session in positive territory, including a decline in the 10-year Treasury yield to a record low and comments from health officials warning of a possible outbreak in the U.S.

U.S. equities dropped as Centers for Disease Control and Prevention (CDC) officials briefed the U.S. on how to get ready if the coronavirus outbreak worsens domestically.

“We are asking the American public to work with us to prepare in the expectation that this could be bad,” Dr. Nancy Messonnier, a top official at CDC, told reporters on a conference call.

Stocks fell even as top White House economic advisor Larry Kudlow maintained that the coronavirus was contained so far in the U.S. and that economic growth had yet to be significantly affected.

Traders were unnerved by the bond market, which pointed to slower economic growth around the world. The 10-year Treasury yield traded at 1.33%, hitting an all-time low. The 30-year U.S. bond yield also reached a record low. Bond prices move inversely to yields.

Key Takeaways…

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 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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S&P 500 Sector Graph

Flight to Safety Jolt Stocks

S&P 500 (SPY)

Flight to Safety Jolt Stocks

Communication Services (XLC)

Flight to Safety Jolt Stocks

Consumer Discretionary (XLY)

Flight to Safety Jolt Stocks

Consumer Staples (XLP)

Flight to Safety Jolt Stocks

Energy (XLE)

Flight to Safety Jolt Stocks

Financials (XLF)

Flight to Safety Jolt Stocks

Real Estate (XLRE)

Flight to Safety Jolt Stocks

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

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