Group of Stocks Pushing Bullish Sentiment

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as a group of stocks pushing bullish 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:

Stock futures rise slightly in overnight trading as market looks to extend record-setting rally

Stock futures climbed sightly higher in overnight trading on Sunday as Wall Street tries to build on a record-setting week. Futures on the Dow Jones Industrial Average rose about 50 points. The S&P 500 futures and the Nasdaq 100 futures gained 0.1% each.

The S&P 500 (SPY) rose +1% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Gains ranged from +2.75% to less than 1%. Healthcare (XLV) suffered a minor loss of less than 1%.

The Dow Jones index jumped +378 points (+1.35%) to close at 28,308. The Nasdaq added +67 points (+0.60%) to settle at 11,379.

Group of Stocks Pushing Bullish Sentiment

Stocks finished higher on Monday as headlines on coronavirus treatment helped investors build on stocks gains from last week.

On Sunday, the U.S. Food and Drug Administration issued an emergency use authorization of convalescent plasma for hospitalized Covid-19 patients, a treatment that uses blood plasma donated by people who’ve recovered from the virus.

Wall Street was coming off a banner week as a seemingly unstoppable rally in major technology shares pushed the S&P 500 to levels above its previous record set before the pandemic. The broad equity benchmark posted its fourth straight positive week and closed at a fresh record on Friday.

Those tech gains were largely driven by Apple ahead of its 4-for-1 stock split. Apple’s massive gains this year — along with those of Facebook, Amazon, Netflix, Alphabet and Microsoft.

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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8/24/20

S&P 500 Sector Graph

Group of Stocks Pushing Bullish Sentiment

S&P 500 (SPY)

Group of Stocks Pushing Bullish Sentiment

Communication Services (XLC)

Group of Stocks Pushing Bullish Sentiment

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Consumer Discretionary (XLY)

Group of Stocks Pushing Bullish Sentiment

Consumer Staples (XLP)

Group of Stocks Pushing Bullish Sentiment

Energy (XLE)

Group of Stocks Pushing Bullish Sentiment

Financials (XLF)

Group of Stocks Pushing Bullish Sentiment

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

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Technology (XLK)

Group of Stocks Pushing Bullish Sentiment

Utilities (XLU)

S&P 500 Sector Heat Map

 

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