Market Cheers Biden Treasury Secretary Pick

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as the market cheers Biden Treasury Secretary pick. 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 futures fall slightly to kick off week amid rising coronavirus cases

Dow Jones Industrial average futures fell slightly in overnight trading on Sunday as a rising number of Covid-19 cases continued to weigh on markets. Futures contracts tied to the Dow fell 66 points, or 0.2%. The move indicated an opening decline of about 50 points.

The S&P 500 (SPY) rose +0.56% today. Sector advancers led decliners 8 to 3 as shown below in the sector graph. Gains ranged from +7.07% to less than 1%. Healthcare (XLV), real estate (XLRE) and technology (XLK) suffered minor losses of less than 1%.

The Dow Jones index jumped +327 points (+1.12%) to close at 29,591. The Nasdaq added +25 points (+0.22%) to settle at 11,880.

Market Cheers Biden Treasury Secretary Pick

Stocks went higher on Monday on more positive vaccine news, this time from AstraZenca as it becomes the 3rd vaccine that showed to be effective.

Market applauded the news of Janet Yellen becoming Biden’s pick for Treasury Secretary.

AstraZeneca said interim analysis showed its vaccine has an average efficacy of 70% with one dosing regimen showing effectiveness of 90%, while the other demonstrating 62% efficacy. This follows late-stage trial data from Pfizer-BioNTech and Moderna showing that their respective Covid-19 vaccines were around 95% effective.

Key Takeaway…

Biden to nominate Janet Yellen for Treasury secretary: Dow Jones

CNBC’s Wilfred Frost reports on former Federal Reserve chair Janet Yellen being nominated to Treasury Secretary in President-elect Joe Biden’s cabinet, according to Dow Jones.

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 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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11/23/20

S&P 500 Sector Graph

Market Cheers Biden Treasury Secretary Pick

S&P 500 (SPY)

Market Cheers Biden Treasury Secretary Pick

Communication Services (XLC)

Market Cheers Biden Treasury Secretary Pick

Consumer Discretionary (XLY)

Market Cheers Biden Treasury Secretary Pick

Episode 1: Basic Investment Strategy – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 1: Basic Investment Strategy Episode 1 goes over my basic investment strategy for individual investors (from years of watching and learning from CNBC).

Consumer Staples (XLP)

Market Cheers Biden Treasury Secretary Pick

Energy (XLE)

Market Cheers Biden Treasury Secretary Pick

Financials (XLF)

Market Cheers Biden Treasury Secretary Pick

Real Estate (XLRE)

Market Cheers Biden Treasury Secretary Pick

Episode 2: Building a Diversified Portfolio – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 2: Building a Diversified Portfolio In this episode, I go over 5 stocks to build a diversified portfolio on. These are 5 stocks to hold for the long term in a retirement account such as a Roth or traditional IRA account.

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Episode 3: 6 Investing Rules for Individual Investors – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 3: 6 Investing Rules for Individual Investors In this episode I discuss 6 investing rules for the individual investor that is in charge of their own retirement account.

Technology (XLK)

Market Cheers Biden Treasury Secretary Pick

Utilities (XLU)

S&P 500 Sector Heat Map

 

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