New Bull Market Rips Higher

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as the new bull market rips 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:

Stock futures flat after S&P notches another record close

U.S. stock futures were flat in overnight trading on Tuesday after the S&P 500 closed at a new record high. Dow futures rose 5 points. The S&P 500 and Nasdaq 100 futures rose 0.04% and 0.1%, respectively. Software company Salesforce reported blowout earnings after the bell on Tuesday.

The S&P 500 (SPY) popped +1.02% higher today. Sector advancers led decliners 6 to 5 as shown below in the sector graph. Gains ranged from +3.42% to less than 1%. Losses ranged from -2.11% to less than 1%, check the sector graph for specifics.

The Dow Jones index rose +62 points (+0.22%) to close at 28,310. The Nasdaq added +198 points (+1.73%) to settle at 11,665.

New Bull Market Rips Higher

Stocks climbed to new record highs on Wednesday as many tech names had gains over 1% boosted by stronger than expected earnings.

“When you’re coming off a major low, the first phase of the bull market is really strong, and you tend to get very extended,” said Keith Lerner, chief market strategist at Truist/SunTrust Advisory. Lerner noted, however, that this “tends to be a period where historically you would start to consolidate some of the gains.”

Shares of Salesforce surged 26% — their biggest one-day gain ever — after the software company posted blowout earnings after the bell on Tuesday.  Salesforce will be added to the Dow at the end of August.

Facebook and Netflix jumped 8.2% and 11.6%, respectively. Amazon advanced nearly 3% while Alphabet and Microsoft gained 2.4% and 2.2%, respectively. Apple rose 1.4%.

Fed Chair Speech Tomorrow

On Thursday, the Federal Reserve will hold its annual symposium on monetary policy. Wall Street will look for clues on further stimulus and where the economy is headed out of the event. Investors will be looking specifically for Powell’s comments on inflation and its impact on the dollar.

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.

Download our new Handy ETF Guide

Subscribe to get our free weekly newsletter by email.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

8/26/20

S&P 500 Sector Graph

New Bull Market Rips Higher

S&P 500 (SPY)

New Bull Market Rips Higher

Communication Services (XLC)

New Bull Market Rips Higher

Episode 1: Basic Investment Strategy – Simply Stock Info: The Podcast

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).

Consumer Discretionary (XLY)

New Bull Market Rips Higher

Consumer Staples (XLP)

New Bull Market Rips Higher

Energy (XLE)

New Bull Market Rips Higher

Episode 2: Building a Diversified Portfolio – Simply Stock Info: The Podcast

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.

Financials (XLF)

New Bull Market Rips Higher

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Episode 3: 6 Investing Rules for Individual Investors – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 3: 6 Investing Rules for Individual Investors In this episode I discuss 6 investing rules for the individual investor that is in charge of their own retirement account.

Technology (XLK)

New Bull Market Rips Higher

Utilities (XLU)

S&P 500 Sector Heat Map

 

Leave a Reply

Your email address will not be published. Required fields are marked *