Jobs Report Shows Economic Durability

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as jobs report shows economic durability. 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 jumps 250 points, S&P 500 hits fresh record after strong October jobs data

Stocks rose on Friday as investor sentiment got a lift from much stronger-than-expected U.S. jobs data.

The S&P 500 (SPY) added +0.97% today. Sector advancers led decliners 8 to 3as shown below in the sector graph. Energy (XLE), financials (XLF), industrials (XLI), materials (XLB) and technology (XLK) led advancers higher with gains of more than 1%. Communication services (XLC), consumer discretionary (XLY) and healthcare (XLV) each had small gains of less than 1%. Consumer staples (XLP), real estate (XLRE) and utilities (XLU) each had minor losses of less than 1%.

The Dow Jones index jumped +301 points (+1.11%) to close at 27,347. The Nasdaq climbed +94 points (+1.13%) to settle at 8,386.

Jobs Report Shows Economic Durability

Stocks got a jolt higher Friday as the October jobs report produced much more jobs than expected.

The U.S. economy added 128,000 jobs in October, the Labor Department said Friday. Economists polled by Dow Jones expected a gain of 75,000 jobs for the previous month. October jobs growth easily beat estimates despite a decline of 42,000 jobs in the autos sector due to a General Motors strike that has now been settled.

Jobs growth data for September and August was also revised substantially higher. September’s number was revised up to 180,000 from 136,000. August jobs growth was revised to 219,000 from 168,000.

China said Friday it reached a consensus in principle with the U.S. during trade talks this week. The U.S. Trade Representative’s office also said Robert Lighthizer and Treasury Secretary Steven Mnuchin made “progress in a variety of areas and are in the process of resolving outstanding issues.”

Around 70% of S&P 500 companies have reported quarterly numbers thus far, according to FactSet. Of those companies 75% have reported better-than-expected earnings.

Key Takeaways…

I took the following CNBC screenshots today regarding October jobs report, where the jobs are and 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

Jobs Report Shows Economic Durability

S&P 500 (SPY)

Jobs Report Shows Economic Durability

Communication Services (XLC)

Jobs Report Shows Economic Durability

Consumer Discretionary (XLY)

Jobs Report Shows Economic Durability

Consumer Staples (XLP)

Jobs Report Shows Economic Durability

Energy (XLE)

Jobs Report Shows Economic Durability

Financials (XLF)

Jobs Report Shows Economic Durability

Real Estate (XLRE)

Jobs Report Shows Economic Durability

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map


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