Goldman Alongside Vaccine News Lift Sentiment

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Goldman alongside vaccine news lift sentiment. 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:

Dow futures jump 300 points after Moderna says its vaccine produces antibodies to coronavirus

Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery. Futures on the Dow Jones Industrial Average jumped 300 points, pointing to a 270-point gain at Wednesday’s open.

The S&P 500 (SPY) rose +0.91% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Gains ranged from +2.55% to less than 1%. Utilities (XLU) suffered a minor loss of less than 1%.

The Dow Jones index climbed +227 points (+0.85%) to close at 26,870. The Nasdaq added +61 points (+0.59%) to settle at 10,550.

Goldman Alongside Vaccine News Lift Sentiment

Stocks found positive gains Wednesday as Moderna’s coronavirus vaccine provided promising data.

Data published by the New England Journal of Medicine showed Moderna’s coronavirus vaccine produced a “robust” immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial.

“A COVID-19 cure/vaccine is a binary event for markets, and there are many ‘shots on goal’ on the healthcare side and only one needs to be successful,” said Tom Lee, founder and head of research at Fundstrat Global Advisors, in a note.

Several states, including California, have had to roll back reopening measures as coronavirus cases continue to rise. Confirmed cases in the U.S. total more than 3.4 million and deaths have surpassed 136,000, according to Johns Hopkins University.

Goldman’s Trading Revenue Drives Strong Earnings Beat

Earnings season continued and Goldman Sachs reported quarterly numbers that easily beat analyst expectations. The company’s results were driven by a 93% surge in trading revenue.

Apple contributed to the gains Wednesday, rising 0.7% after a European Union court annulled a 2016 European Commission order for the tech giant to pay $15 billion in taxes.

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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7/15/20

S&P 500 Sector Graph

Goldman Alongside Vaccine News Lift Sentiment

S&P 500 (SPY)

Goldman Alongside Vaccine News Lift Sentiment

Communication Services (XLC)

Goldman Alongside Vaccine News Lift Sentiment

Consumer Discretionary (XLY)

Goldman Alongside Vaccine News Lift Sentiment

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Consumer Staples (XLP)

Goldman Alongside Vaccine News Lift Sentiment

Energy (XLE)

Goldman Alongside Vaccine News Lift Sentiment

Financials (XLF)

Goldman Alongside Vaccine News Lift Sentiment

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Goldman Alongside Vaccine News Lift Sentiment

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Utilities (XLU)

S&P 500 Sector Heat Map

 

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