Investors Worry Virus Resurgence Effects Recovery

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as investors worry virus resurgence effects recovery. 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 drops more than 400 points as rising virus cases raise concerns about economy to end 2020

Stocks fell on Thursday as an increasing number of U.S. coronavirus cases raised concerns over the health of the economy heading into year-end. The Dow Jones Industrial Average traded 460 points lower, or 1.6%. The S&P 500 slid 1.4%, and the Nasdaq Composite dropped 0.8%.

The S&P 500 (SPY) dropped -1% today. All 11 sectors finished negative on the day. Losses ranged from -2.11% to less than 1%.

The Dow Jones index fell -317 points (-1.08%) to close at 29,080. The Nasdaq lost -76 points (-0.65%) to settle at 11,709.

Investors Worry Virus Resurgence Effects Recovery

Stocks dropped on Thursday as investors raised concerns over the resurgence of the coronavirus and the economic recovery.

The major averages turned sharply lower after Federal Reserve Chairman Jerome Powell said the U.S. economic outlook remained uncertain even after this week’s positive vaccine news.

“From our standpoint, it’s just too soon to assess with any confidence the implications of the news for the path of the economy, especially in the near term,” Powell said regarding the vaccine. “With the virus spreading, the next few months could be challenging.”

Thursday’s moves came as the number of coronavirus cases continues to rise. On Wednesday alone, a record of more than 144,000 infections were confirmed in the U.S., bringing the nationwide tally to more than 10 million. Chicago issued a stay-at-home advisory Thursday aimed to curb the spread, while New York has imposed a new curfew on restaurants, bars and gyms.

Key Takeaway…

Here are the things that scare Jerome Powell the most about the economy right now

Federal Reserve Chairman Jerome Powell said Thursday he worries about women, children and business owners who face long-term consequences from the coronavirus pandemic. Asked to name his chief concerns as the world tries to recover from the Covid-19 crisis, Powell said it’s “the risk that there is some longer-run damage to the productive capacity of the economy and to people’s lives who have been disrupted by the pandemic.”

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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11/12/20

S&P 500 Sector Graph

Investors Worry Virus Resurgence Effects Recovery

S&P 500 (SPY)

Investors Worry Virus Resurgence Effects Recovery

Communication Services (XLC)

Investors Worry Virus Resurgence Effects Recovery

Consumer Discretionary (XLY)

Investors Worry Virus Resurgence Effects Recovery

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)

Investors Worry Virus Resurgence Effects Recovery

Energy (XLE)

Investors Worry Virus Resurgence Effects Recovery

Financials (XLF)

Investors Worry Virus Resurgence Effects Recovery

Real Estate (XLRE)

Investors Worry Virus Resurgence Effects Recovery

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.

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Episode 3: 6 Investing Rules for Individual Investors – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 3: 6 Investing Rules for Individual Investors In this episode I discuss 6 investing rules for the individual investor that is in charge of their own retirement account.

Technology (XLK)

Investors Worry Virus Resurgence Effects Recovery

Utilities (XLU)

S&P 500 Sector Heat Map

 

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