Jobs Plus Fed Comments Shoot Stocks Higher

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as jobs plus Fed comments shoot stocks higher. 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:

Wall Street futures move higher on US-China trade talks; nonfarm payrolls in focus

U.S. stock index futures rose slightly ahead of Friday’s open on news surrounding U.S.-China trade talks. At around 3:40 a.m. ET, Dow futures were up by 195 points, indicating a positive open of 189.78 points. Futures on the S&P 500 were also pointing to a positive open of 22.71, and Nasdaq futures followed the same trend, up by 76.12 points.

The S&P 500 (SPY) climbed +3.43% today. All 11 sectors finished deep in the green as shown below in the sector graph. Communication services (XLC) and technology (XLK) led the market higher with 4+% gains. Consumer discretionary (XLY), energy (XLE), financials (XLF), industrials (XLI) and materials (XLB) each added 3+%. Consumer staples (XLP) and healthcare (XLV) each jumped 2+%. Real estate (XLRE) and utilities (XLU) each drove 1+% higher.

The Dow Jones index shot up +746 points (+3.29%) to close at 23,433. The Nasdaq advanced +275 points (+4.26%) to settle at 6,738.

Jobs Plus Fed Comments Shoot Stocks Higher

A stellar jobs report alongside dovish comments from Fed Chair Powell regarding monetary policy catapulted stocks on Friday. The US economy added 312,000 jobs in December versus an expectation of 176,000. Fed Chair Powell sent stocks even higher when he hinted the FOMC could pause rate hikes and “we will be patient as we watch to see how the economy evolves.”

Key Takeaway…

I took the following CNBC screenshot this morning regarding what’s moving markets:

Jobs Plus Fed Comments Shoot Stocks Higher

Notable S&P 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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1/4/19

S&P 500 Sector Graph

Jobs Plus Fed Comments Shoot Stocks Higher

S&P 500 (SPY)

Jobs Plus Fed Comments Shoot Stocks Higher

Communication Services (XLC)

Jobs Plus Fed Comments Shoot Stocks Higher

Consumer Discretionary (XLY)

Jobs Plus Fed Comments Shoot Stocks Higher

Consumer Staples (XLP)

Jobs Plus Fed Comments Shoot Stocks Higher

Energy (XLE)

Jobs Plus Fed Comments Shoot Stocks Higher

Financials (XLF)

Jobs Plus Fed Comments Shoot Stocks Higher

Real Estate (XLRE)

Jobs Plus Fed Comments Shoot Stocks Higher

Healthcare (XLV)

Jobs Plus Fed Comments Shoot Stocks Higher

Industrials (XLI)

Jobs Plus Fed Comments Shoot Stocks Higher

Materials (XLB)

Jobs Plus Fed Comments Shoot Stocks Higher

Technology (XLK)

Jobs Plus Fed Comments Shoot Stocks Higher

Utilities (XLU)

Jobs Plus Fed Comments Shoot Stocks Higher

S&P 500 Sector Heat Map

Jobs Plus Fed Comments Shoot Stocks Higher

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