Nasdaq Hits Record 10K Level
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Nasdaq hits record 10k level. 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:
Futures contracts tied to the major U.S. stock indexesheld steady at the start of the overnight session Monday evening as investors hoped to extend the S&P 500’s gains after the index returned to positive territory for the year during the regular session.
The S&P 500 (SPY) slipped -0.78% today. Sectors decliners led advancers 10 to 1 as shown below in the sector graph. Losses ranged from -3.76% to less than 1%. Technology (XLK) squeezed out a minor gain of less than 1%.
The Dow Jones index fell into the red by -300 points (-1.09%) to close at 27,272. The Nasdaq advanced +29 points (+0.29%) to settle at 9,953.
Nasdaq Hits Record 10K Level
The Nasdaq briefly touched 10k on Tuesday.
The tech-heavy Nasdaq rose 0.29% to finish the day at a record close of 9,953.75, below its all-time intraday high north of 10,000 it hit earlier in the day. Amazon and Apple gained 3% and 3.1%, respectively, with each notching all-time highs during the session. Facebook advanced 3.1% higher and Netflix rose 3.47%. Google-parent Alphabet added 0.28%.
“Today’s all about giving back some of the sharp gains we’ve seen in those value names,” said Keith Buchanan, portfolio manager at GLOBALT. Buchanan said several factors — including last week’s record-setting jobs report — are signaling a much quicker-than-expected turnaround.”
The S&P 500 leaped 1.2% and turned positive for the year in the prior session in a quick about-face following the springtime fears over the virus. At one point this year, the S&P 500 was down more than 30% from its all-time highs. It was positive for 2020 by 0.05% by Monday’s close but Tuesday’s losses put it back down 0.6% year to date.
Notable S&P 500 Movers…
Below I’ve highlighted some notable S&P 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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S&P 500 Sector Graph
S&P 500 (SPY)
Communication Services (XLC)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
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).
Real Estate (XLRE)
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.
S&P 500 Sector Heat Map