Growth Stocks Still Home for Majority Market

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as growth stocks still home for majority market. 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 flat after the market notches its best quarter in decades

Stock futures were flat in overnight trading on Tuesday as the market is set to kick off a new quarter after a remarkable comeback. Futures on the Dow Jones Industrial Average fell about 25 points. The S&P 500 futures and the Nasdaq 100 futures were little changed. Trading volumes were thin.

The S&P 500 (SPY) rose +0.50% today. Sector advancers led decliners 8 to 3 as shown below in the sector graph. Gains ranged from +2.73% to less than 1%. Losses ranged from -2.43% to less than 1%, check the sector graph for specifics.

The Dow lost -77 points (-0.30%) to close at 25,734. The Nasdaq climbed +95 points (+0.95%) to settle at 10,154.

Growth Stocks Still Home for Majority Market

Big tech helped the Nasdaq and S&P 500 finish in the green Wednesday as investors cheered positive coronavirus vaccine news along with ADP jobs data.

A study of a coronavirus vaccine candidate being developed by Pfizer and BioNTech showed the drug created neutralizing antibodies. The results were released online, but have not been reviewed by a medical journal yet.

Pfizer and BioNTech’s news comes as more than 12 states have now paused or rolled back their reopenings, with cases in the U.S. jumping 40% over the past week to an average of about 39,750 on Monday, according to a CNBC analysis of data compiled by Johns Hopkins University.

Arizona on Wednesday reported nearly 4,900 additional coronavirus cases and 88 new deaths, a record-high single-day jump. California also reported a record spike in new coronavirus cases. Apple, meanwhile, erased earlier gains and closed 0.2% lower after announcing it will re-close 30 more stores do to the resurgence in virus cases.

White House health advisor Dr. Anthony Fauci warned Tuesday that if the outbreak continues at its current pace, daily new cases could surpass 100,000 new infections per day.

“We just see this ongoing push-and-pull between reopening [the economy] and the virus,” said Tom Hainlin, global investment strategist at Ascent Private Capital Management. “We got some positive early stage vaccine data from Pfizer, but you’ve got Google and Citigroup, among other companies, saying they’re going to slow down our process of getting people back to the office because of this resurgence.”

ADP and Moody’s Analytics said private payrolls jumped by 2.37 million in June. Payrolls for May were also revised to a gain of more than 3 million from a loss of 2.76 million.

Key Takeaways…

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.

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7/1/20

S&P 500 Sector Graph

Growth Stocks Still Home for Majority Market

S&P 500 (SPY)

Growth Stocks Still Home for Majority Market

Communication Services (XLC)

Growth Stocks Still Home for Majority Market

Consumer Discretionary (XLY)

Growth Stocks Still Home for Majority Market

Episode 1: Basic Investment Strategy – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 1: Basic Investment Strategy Episode 1 goes over my basic investment strategy for individual investors (from years of watching and learning from CNBC).

Consumer Staples (XLP)

Growth Stocks Still Home for Majority Market

Energy (XLE)

Growth Stocks Still Home for Majority Market

Financials (XLF)

Growth Stocks Still Home for Majority Market

Real Estate (XLRE)

Growth Stocks Still Home for Majority Market

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Episode 2: Building a Diversified Portfolio – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 2: Building a Diversified Portfolio In this episode, I go over 5 stocks to build a diversified portfolio on. These are 5 stocks to hold for the long term in a retirement account such as a Roth or traditional IRA account.

Technology (XLK)

Growth Stocks Still Home for Majority Market

Utilities (XLU)

S&P 500 Sector Heat Map

 

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