Major Averages Rebound Despite Boeing Decline

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as major averages rebound despite Boeing decline. 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 briefly turns positive, pares 200-point loss as Apple gains offset Boeing decline

Drew Angerer | Getty Images Monday’s moves come after the major indexes posted their worst weekly performances of 2019 amid growing concerns of a possible economic slowdown around the world. “The most recent economic data fits with our 2019 outlook that suggests economic growth is likely to slow this year but recession prospects remain very low,” said Bruce Bittles, chief investment strategist at Baird, in a note.

The S&P 500 (SPY) jumped +1.47% today. All 11 sectors finished in the green. Technology (XLK) +2.15% led all sectors higher. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), healthcare (XLV), materials (XLB) and real estate (XLRE) each enjoyed gains of over 1%. Industrials (XLI) and utilities (XLU) each had minor gains of less than 1%.

The Dow Jones index advanced +200 points (+0.79%) to close at 25,650. The Nasdaq added +149 points (+2.02%) to settle at 7,558.

Major Averages Rebound Despite Boeing Decline

Major averages snapped a 5 day losing streak as big gains in the Nasdaq helped cancel out Boeing’s big decline. Boeing (BA) fell more than 5% after a plane crash involving the 737 MAX 8 jet. This is the model’s second crash in less than 6 months. Apple (AAPL) climbed more than 3% as Bank of America upgraded the stock to a buy. Fed Chair Jerome Powell said in an interview on Sunday, “that he thinks the US economy ┬áis still strong.”

Key Takeaways…

I took the following CNBC screenshots this morning regarding oversold groups, global growth & earnings, 20th anniversary of QQQ, largest holdings of QQQ and SPY vs QQQ comparison:

Major Averages Rebound Despite Boeing Decline

Major Averages Rebound Despite Boeing Decline

Major Averages Rebound Despite Boeing Decline

Major Averages Rebound Despite Boeing Decline

Major Averages Rebound Despite Boeing Decline

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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3/11/19

S&P 500 Sector Graph

Major Averages Rebound Despite Boeing Decline

S&P 500 (SPY)

Major Averages Rebound Despite Boeing Decline

Communication Services (XLC)

Major Averages Rebound Despite Boeing Decline

Consumer Discretionary (XLY)

Major Averages Rebound Despite Boeing Decline

Consumer Staples (XLP)

Major Averages Rebound Despite Boeing Decline

Energy (XLE)

Major Averages Rebound Despite Boeing Decline

Financials (XLF)

Major Averages Rebound Despite Boeing Decline

Real Estate (XLRE)

Major Averages Rebound Despite Boeing Decline

Healthcare (XLV)

Major Averages Rebound Despite Boeing Decline

Industrials (XLI)

Major Averages Rebound Despite Boeing Decline

Materials (XLB)

Major Averages Rebound Despite Boeing Decline

Technology (XLK)

Major Averages Rebound Despite Boeing Decline

Utilities (XLU)

Major Averages Rebound Despite Boeing Decline

S&P 500 Sector Heat Map

Major Averages Rebound Despite Boeing Decline

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