Meaningful Progress Toward Trade Deal Sparks Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after meaningful progress toward trade deal sparks rally. 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 is set to leap more than 200 points at the open after US-China trade war is placed ‘on hold’

U.S. stock index futures pointed to triple-digit gains at the open Monday morning, after Treasury Secretary Steven Mnuchin said the prospect of a trade war was “on hold” following an agreement to suspend tariff threats. At around 04:45 a.m. ET, Dow futures rose 208 points, indicating a higher implied open of 220 points.

The S&P 500 (SPY) rose +0.74% today. All 11 sectors were in the green today. Industrials (XLI) led all sectors with a +1.51% gain. Both energy (XLE) and real estate (XLRE) each had gains of +1.01%. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF), healthcare (XLV), materials (XLB), technology (XLK) and utilities (XLU) each had minor gains of less than 1%.

The Dow Jones index jumped +298 points (+1.21%) to close above 25k at 25,013. The Nasdaq advanced +39 points (+0.54%) to settle at 7,394.

Meaningful Progress Toward Trade Deal Sparks Rally

Treasury Secretary Steven Mnuchin’s comments of “very meaningful progress” with China on trade matters sparked a rally on Wall Street on Monday. Progress was made on Saturday as the world’s two biggest economies said they would continue talking about a deal in which China would import more energy and agricultural products from the US to bring the $335 billion trade deficit closer together. President Trump tweeted about the progress Monday:

Meaningful Progress Toward Trade Deal Sparks Rally

Key takeaways…

I took these CNBC screenshots this morning regarding revenue exposure to China, market sentiment and earnings season:

Meaningful Progress Toward Trade Deal Sparks Rally

Meaningful Progress Toward Trade Deal Sparks Rally

Meaningful Progress Toward Trade Deal Sparks Rally

Meaningful Progress Toward Trade Deal Sparks Rally

Notable S&P movers…

  • MSFT +1.29%
  • XOM +1.21%
  • GOOGL +1.34%
  • HD +1.26%
  • NFLX +2.36%
  • CVX +1.18%
  • WFC +1.56%
  • UNH +1.33%
  • BA +3.61%
  • INTC +1.53%
  • CSCO +1.25%

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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5/21/18

S&P 500 Sector Graph

Meaningful Progress Toward Trade Deal Sparks Rally

S&P 500 (SPY)

Meaningful Progress Toward Trade Deal Sparks Rally

Consumer Discretionary (XLY)

Meaningful Progress Toward Trade Deal Sparks Rally

Consumer Staples (XLP)

Meaningful Progress Toward Trade Deal Sparks Rally

Energy (XLE)

Meaningful Progress Toward Trade Deal Sparks Rally

Financials (XLF)

Meaningful Progress Toward Trade Deal Sparks Rally

Real Estate (XLRE)

Meaningful Progress Toward Trade Deal Sparks Rally

Healthcare (XLV)

Meaningful Progress Toward Trade Deal Sparks Rally

Industrials (XLI)

Meaningful Progress Toward Trade Deal Sparks Rally

Materials (XLB)

Meaningful Progress Toward Trade Deal Sparks Rally

Technology (XLK)

Meaningful Progress Toward Trade Deal Sparks Rally

Utilities (XLU)

Meaningful Progress Toward Trade Deal Sparks Rally

S&P 500 Sector Heat Map

Meaningful Progress Toward Trade Deal Sparks Rally

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