Latest Earnings Support Current Valuations
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after latest earnings support current valuations. 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:
Spencer Platt | Getty Images News | Getty Images “The main driver for the stock market right now is earnings,” said Ernie Cecilia, CIO at Bryn Mawr Trust. “In terms of earnings, the numbers have been pretty good.” News related to the two biggest central banks also dominated Wall Street.
The S&P 500 (SPY) gained 0.13% today after latest earnings support current valuations. S&P sector advancers led decliners by 8 to 2. Materials (XLB) led advancers with a 1.33% pop on the day. Consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), industrials (XLI), technology (XLK) and utilities (XLU) all were in the green by less than 1%. Healthcare (XLV) and real estate (XLRE) lost ground by losing less than 1% each.
The Dow Jones index was positive by 71 points finishing at 23,400. The Nasdaq lost 7 points ending at 6,556.
The main focal points that came from today’s action were after the closing bell. A flurry of big tech companies reported after the bell with outstanding earnings results. Amazon (AMZN) blew out earnings with a reported EPS of $0.52 vs an expected estimate of $0.03. The stock is up 7% after hours. Alphabet (GOOGL) surged over 3% after beating earnings with an EPS of $9.57 versus an estimate of $8.33. Microsoft (MSFT) also came ahead in earnings, posting an EPS of $0.84 versus an estimate of $0.72 and is in the green by more than 4% in after hours.
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.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map