Manufacturing Shrinks For Second Consecutive Month

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as manufacturing shrinks for second consecutive month. 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:

US futures point to a higher open on Wall Street

U.S. stock index futures were trading higher on Tuesday morning.

The S&P 500 (SPY) lost -1.23% today. All 11 sectors ended in negative territory. Communication services (XLC), energy (XLE), financials (XLF), industrials (XLI) and materials (XLB) led decliners down with losses of 1% or more. Consumer discretionary (XLY), consumer staples (XLP), healthcare (XLV), real estate (XLRE), technology (XLK) and utilities (XLU) each suffered small losses of less than 1%.

The Dow Jones index sank -343 points (-1.28%) to close at 26,573. The Nasdaq subtracted -90 points (-1.13%) to settle at 7,908.

Manufacturing Shrinks For Second Consecutive Month

Stocks dropped Tuesday as disappointing manufacturing data had Wall Street worrying about the US economy.

The Institute for Supply Management said U.S. manufacturing activity contracted to its worst level since June 2009. The ISM report follows the release of weak manufacturing data from Europe.

“The manufacturing side is telling us something. It’s a combination of global growth and we’ve got a trade war that’s been going on for a year and a half,” said Christian Fromhertz, CEO of The Tribeca Trade Group. “That’s been freezing things up. The longer this trade war keeps going, the more damage it does.”

Key Takeaways…

I took the following CNBC screenshots today regarding sector snapshot 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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10/1/19

S&P 500 Sector Graph

Manufacturing Shrinks For Second Consecutive Month

S&P 500 (SPY)

Manufacturing Shrinks For Second Consecutive Month

Communication Services (XLC)

Manufacturing Shrinks For Second Consecutive Month

Consumer Discretionary (XLY)

Manufacturing Shrinks For Second Consecutive Month

Consumer Staples (XLP)

Manufacturing Shrinks For Second Consecutive Month

Energy (XLE)

Manufacturing Shrinks For Second Consecutive Month

Financials (XLF)

Manufacturing Shrinks For Second Consecutive Month

Real Estate (XLRE)

Manufacturing Shrinks For Second Consecutive Month

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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