More Effective Vaccines Fuel Stocks Higher

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as more effective vaccines fuel stocks higher. 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:

U.S. stock futures rise slightly after last week’s big market rotation

U.S. stock futures rose on Sunday night as traders assessed a sharp market rotation that led to a mixed weekly performance last week. Dow Jones Industrial Average futures were up by 71 points, or 0.2%. S&P 500 futures traded 0.3% higher and Nasdaq 100 futures advanced 0.5%.

The S&P 500 (SPY) rose +1.16% today. Sector advancers led decliners 10 to 1 as shown below in the sector map. Gains ranged from +6.58% to less than 1%. Healthcare (XLV) suffered a minor loss of less than 1%.

The Dow Jones index climbed +451 points (+1.53%) to close at 29,930. The Nasdaq added +94 points (+0.80%) to settle at 11,924.

More Effective Vaccines Fuel Stocks Higher

Stocks gained more ground on Monday as Moderna’s COVID-19 vaccine came back more than 94% effective.

Moderna said Monday that its coronavirus vaccine was more than 94% effective during a late-stage trial. The promising announcement makes the Massachusetts-based biotech firm the second drugmaker to say it has a potentially effective vaccine.

Similar trial results last week from Pfizer and BioNTech drove investors into underperforming names dependent on a vaccine reopening the economy. The companies said at the time that their candidate was more than 90% effective in preventing Covid-19 among participants.

Wall Street was coming off a mixed weekly performance in which beaten-down value names led the way higher at the expense of high-flying growth names. The Dow climbed 4% last week, and the S&P 500 notched a 2.2% one-week gain. The Nasdaq Composite lagged, however, sliding 0.6%.

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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11/16/20

S&P 500 Sector Graph

More Effective Vaccines Fuel Stocks Higher

S&P 500 (SPY)

More Effective Vaccines Fuel Stocks Higher

Communication Services (XLC)

More Effective Vaccines Fuel Stocks Higher

Consumer Discretionary (XLY)

More Effective Vaccines Fuel Stocks Higher

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Consumer Staples (XLP)

More Effective Vaccines Fuel Stocks Higher

Energy (XLE)

More Effective Vaccines Fuel Stocks Higher

Financials (XLF)

More Effective Vaccines Fuel Stocks Higher

Real Estate (XLRE)

More Effective Vaccines Fuel Stocks Higher

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Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

More Effective Vaccines Fuel Stocks Higher

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Utilities (XLU)

S&P 500 Sector Heat Map

 

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