Mega Cap Momentum Powers Nasdaq

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as mega cap momentum powers Nasdaq. 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 stock futures fall following back-to-back rallies

U.S. stock futures fell on Sunday night after Wall Street posted consecutive rallies to end last week amid the prospects of the global economy reopening soon. Dow Jones Industrial Average futures traded 89 points lower, or 0.4%. S&P 500 and Nasdaq 100 futures also slipped 0.4% each.

The S&P 500 (SPY) gained a minimal +0.01% today. Sector decliners led advancers 7 to 4 as shown below in the sector graph. Losses ranged from -1.93% to less than 1%. Gains ranged from +1.72% to less than 1%, check the sector graph for specifics.

The Dow Jones index fell -109 points (-0.45%) to close 24,221. The Nasdaq climbed +71 points (+0.78%) to settle at 9,192.

Mega Cap Momentum Powers Nasdaq

Stocks ended mixed Monday after the Nasdaq continued a 6 day winning streak on the backs of Mega Cap technology momentum stocks.

The Nasdaq Composite climbed for a sixth straight session on Monday as shares of major technology companies added to their comeback rally.

Amazon, Apple and Microsoft all rose more than 1%, posting their sixth consecutive day of gains. Netflix jumped 1.4%, while Google parent Alphabet climbed 1.4%.

“The COVID-19 pandemic has reinforced the essential role that technology plays for businesses and consumers, and stoked expectations that the recession could see many of the largest growth companies become even more dominant,” said Salvatore Ruscitti, U.S. equities strategist at MRB Partners.

However, investors remained jittery about reopening the economy too soon, capping the broader market’s upside momentum.

Key Takeaways…

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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5/11/20

S&P 500 Sector Graph

Mega Cap Momentum Powers Nasdaq

S&P 500 (SPY)

Mega Cap Momentum Powers Nasdaq

Communication Services (XLC)

Mega Cap Momentum Powers Nasdaq

Consumer Discretionary (XLY)

Mega Cap Momentum Powers Nasdaq

Consumer Staples (XLP)

Mega Cap Momentum Powers Nasdaq

Energy (XLE)

Mega Cap Momentum Powers Nasdaq

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Financials (XLF)

Mega Cap Momentum Powers Nasdaq

Real Estate (XLRE)

Healthcare (XLV)

Mega Cap Momentum Powers Nasdaq

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Mega Cap Momentum Powers Nasdaq

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Utilities (XLU)

S&P 500 Sector Heat Map

 

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