Market Still Hopeful on Stimulus Deal

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as the market still hopeful on stimulus deal. 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:

Stock futures flat as investors brace for final quarter of 2020

U.S. stock futures were flat in overnight trading, as investors braced for the start of the fourth quarter with hopes of fiscal stimulus. Dow futures rose 45 points. S&P 500 futures and Nasdaq 100 futures ticked up 0.18% and 0.12%, respectively.

The S&P 500 (SPY) rose 0.53% today. Sector advancers led decliners 7 to 4 as shown below in the sector graph. Gains ranged from +1.64% to less than 1%. Losses ranged from -3.07% to less than 1%.

The Dow Jones index added +35 points (+0.13%) to close at 27,816. The Nasdaq climbed +159 points (+1.42%) to settle at 11,326.

Market Still Hopeful on Stimulus Deal

Stocks ended with marginal gains Thursday as all eyes turn to Washington as both political parties try to hash out a stimulus deal before the presidential election.

Major technology shares provided the broader market with some support as Amazon, Microsoft, Alphabet and Facebook all jumped at least 1%. Netflix popped 5.5%.

The House, which aimed to pass a $2.2 trillion Democratic bill Wednesday night, had delayed a vote to allow more time for House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin to hash out a bipartisan plan.

Pelosi and Mnuchin held a phone call Thursday after they failed to strike a deal during a Wednesday meeting.

The weekly jobless claims report came in better than expected, however. The Labor Department said first-time filers for unemployment benefits tallied 837,000 in the week ending Sept. 26. Economists polled by Dow Jones expected a total of 850,000.

Key Takeaway…

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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10/1/20

S&P 500 Sector Graph

Market Still Hopeful on Stimulus Deal

S&P 500 (SPY)

Market Still Hopeful on Stimulus Deal

Communication Services (XLC)

Market Still Hopeful on Stimulus Deal

Consumer Discretionary (XLY)

Market Still Hopeful on Stimulus Deal

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Consumer Staples (XLP)

Market Still Hopeful on Stimulus Deal

Energy (XLE)

Market Still Hopeful on Stimulus Deal

Financials (XLF)

Market Still Hopeful on Stimulus Deal

Real Estate (XLRE)

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Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Market Still Hopeful on Stimulus Deal

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Utilities (XLU)

S&P 500 Sector Heat Map

 

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