Investors Cautiously Optimistic Regarding Economy

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as investors cautiously optimistic regarding economy. 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:

U.S. stock futures are little changed after the S&P 500’s first close above 3,400

U.S. stock futures were flat on Monday night after another record-setting session on Wall Street. Dow Jones Industrial Average futures traded just below the flatline along with S&P 500 and Nasdaq 100 futures. During regular trading, the S&P 500 climbed 1% and closed above 3,400 for the first time.

The S&P 500 (SPY) rose +0.36% today. Sector advancers led decliners 6 to 5 as shown below in the sector graph. 6 sectors had gains of less than 1%. Losses ranged from -1.40% to less than 1%, check the sector graph for specifics.

The Dow Jones index declined -60 points (-0.21%) to close at 28,248. The Nasdaq added +86 points (+0.76%) to settle at 11,466.

Investors Cautiously Optimistic Regarding Economy

Stocks closed mostly higher on Tuesday as plenty of headlines fought for investors attention.

Earlier on Tuesday, U.S. Census reported a 36% surge in sales of newly built homes in July. However, the Conference Board’s consumer confidence index fell for a second straight month.

The number of newly confirmed coronavirus infections in the U.S. has dropped. Data compiled by Johns Hopkins University showed new cases fell to around 38,000 and have been below 50,000 since mid-August.

“Equity investors continue to express cautious optimism on the direction of the economy and progress with the virus,” said Mark Hackett, chief of investment research at Nationwide.

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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8/25/20

S&P 500 Sector Graph

Investors Cautiously Optimistic Regarding Economy

S&P 500 (SPY)

Investors Cautiously Optimistic Regarding Economy

Communication Services (XLC)

Investors Cautiously Optimistic Regarding Economy

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Investors Cautiously Optimistic Regarding Economy

Consumer Staples (XLP)

Investors Cautiously Optimistic Regarding Economy

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Investors Cautiously Optimistic Regarding Economy

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Investors Cautiously Optimistic Regarding Economy

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Investors Cautiously Optimistic Regarding Economy

Utilities (XLU)

S&P 500 Sector Heat Map

 

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