Hong Kong Pressures Ease

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map. 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 more than 200 points

U.S. stock index futures were higher Wednesday morning. At around 03:00 a.m. ET, Dow futures rose 204 points, indicating a positive open of more than 203 points. Futures on the S&P and Nasdaq were both higher.

The S&P 500 (SPY) rose +1.08% today. All 11 sectors landed in positive territory as shown below in the sector graph. Communication services (XLC), energy (XLE), industrials (XLI), materials (XLB) and technology (XLK) led the market higher, each with gains of more than 1%. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF), healthcare (XLV), real estate (XLRE) and utilities (XLU) each had small gains of less than 1%.

The Dow Jones index jumped +237 points (+0.91%) to close at 26,355. The Nasdaq climbed +102 points (+1.30%) to settle at 7,976.

Hong Kong Pressures Ease

Stocks popped higher on Wednesday as tensions in Hong Kong between the government and protesters eased.

Hong Kong leader Carrie Lam said that she will withdraw a contentious extradition bill that has sparked months of mass protests. The Hang Seng index in Hong Kong soared around 4% on reports overnight that the withdrawal of the bill was imminent. The iShares MSCI Hong Kong ETF (EWH) gained 4.5% and posted its biggest one-day rise since Sept. 8, 2015 when it rose 5.4%.

The bill’s withdrawal is seen as a positive because protest escalation was seen as a potential disruptor to the global economy. Some investors feared the protests could hinder U.S.-China trade talks.

Key Takeaways…

I took the following CNBC screenshot today regarding driving the action:

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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S&P 500 Sector Graph

Hong Kong Pressures Ease

S&P 500 (SPY)

Hong Kong Pressures Ease

Communication Services (XLC)

Hong Kong Pressures Ease

Consumer Discretionary (XLY)

Hong Kong Pressures Ease

Consumer Staples (XLP)

Hong Kong Pressures Ease

Energy (XLE)

Hong Kong Pressures Ease

Financials (XLF)

Hong Kong Pressures Ease

Real Estate (XLRE)

Hong Kong Pressures Ease

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map


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