Hong Kong Ruling Raises China Tensions

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Hong Kong ruling raises China tensions. 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 falls for the first time in 3 days, drops 100 points on U.S.-China tensions

Stocks closed lower on Thursday, erasing solid gains from earlier in the day, after President Donald Trump said he would be giving a news conference Friday regarding China. The Dow Jones Industrial Average fell 147.63 points, or 0.6%, to 25,400.64. At its session high, the Dow was up 210 points.

The S&P 500 (SPY) slipped -0.21% today. Sector decliners led advancers 6 to 5 as shown below in the sector graph. Losses ranged from -2.80% to less than 1%. Gains ranged from +2.96% to less than 1%, check the sector graph for specifics.

The Dow Jones index dropped -147 points (-0.58%) to close at 25,400. The Nasdaq gave back -43 points (-0.46%) to settle at 9,368.

Hong Kong Ruling Raises China Tensions

Stocks lost ground Thursday as President Trump will be holding a press conference Friday regarding China as US China tensions rise.

Trump’s announcement came after China’s National People’s Congress approved a national security bill for Hong Kong. The bill will bypass Hong Kong’s legislature, raising concerns over the longevity of Hong Kong’s “one party, two systems” principle, which allows additional freedoms mainland China does not have.

Stocks traded higher for most of the session as the latest unemployment data signaled the worst of the economic damage from the coronavirus pandemic may be over.

The Labor Department said Thursday another 2.1 million Americans filed for unemployment benefits last week. That’s more than a Dow Jones estimate of 2.05 million. To be sure, the pace of new filings has dropped from previous weeks. Continuing claims, which represent a better unemployment picture, plunged by nearly 4 million in their first decline since the coronavirus outbreak.

Key Takeaway…

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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5/28/20

S&P 500 Sector Graph

Hong Kong Ruling Raises China Tensions

S&P 500 (SPY)

Hong Kong Ruling Raises China Tensions

Communication Services (XLC)

Hong Kong Ruling Raises China Tensions

Consumer Discretionary (XLY)

Hong Kong Ruling Raises China Tensions

Consumer Staples (XLP)

Hong Kong Ruling Raises China Tensions

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).

Energy (XLE)

Hong Kong Ruling Raises China Tensions

Financials (XLF)

Hong Kong Ruling Raises China Tensions

Real Estate (XLRE)

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)

Hong Kong Ruling Raises China Tensions

Utilities (XLU)

S&P 500 Sector Heat Map

 

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