North Korean Summit News Pushes Stocks Lower

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after North Korean summit news pushes stocks lower. 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 stocks set for a mixed open amid ongoing US-China trade talks

U.S. stock index futures pointed to a mixed open Thursday morning, as investors monitored a fresh batch of corporate earnings and economic data. At around 4:15 a.m. ET, Dow futures slipped 4 points, indicating a slightly downbeat implied open. The Nasdaq and S&P 500 futures pointed to a flat start to the session for their respective markets.

The S&P 500 (SPY) gave back -0.20% today. Sector decliners led advancers 7 to 3 as shown below in the sector graph. Energy (XLE) led decliners down with a -1.68% loss. Consumer staples (XLP), financials (XLF), healthcare (XLV), materials (XLB), real estate (XLRE) and technology (XLK) each had minor losses of less than 1%. Consumer discretionary (XLY), industrials (XLI) and utilities (XLU) each had minor gains of less than 1%.

The Dow Jones index shed 75 points (-0.30%) to fall to 24,811. The Nasdaq looked like it barely moved from the flatline, losing 1 point (-0.02%) closing at 7,424.

North Korean Summit News Pushes Stocks Lower

Stocks fell on the news that President Trump had cancelled the anticipated summit with North Korea. Trump sent North Korean leader Kim Jong Un a letter detailing the reasons for the cancellation but left the door open for a future meeting.

Key takeaway…

The following is an interview with veteran NYSE trader Art Cashin on several aspects of what’s moving the market today:

Veteran trader Art Cashin on what’s moving markets

Art Cashin, UBS’ director of floor operations, discusses Thursday’s market action with CNBC’s Seema Mody

Notable S&P movers…

  • JPM -1.12%
  • XOM -2.29%
  • NFLX +1.33%
  • NKE +1.18%
  • LOW +1.90%
  • CVX -1.62%
  • ABBV -2.33%

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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5/24/18

S&P 500 Sector Graph

North Korean Summit News Pushes Stocks Lower

S&P 500 (SPY)

North Korean Summit News Pushes Stocks Lower

Consumer Discretionary (XLY)

North Korean Summit News Pushes Stocks Lower

Consumer Staples (XLP)

North Korean Summit News Pushes Stocks Lower

Energy (XLE)

North Korean Summit News Pushes Stocks Lower

Financials (XLF)

North Korean Summit News Pushes Stocks Lower

Real Estate (XLRE)

North Korean Summit News Pushes Stocks Lower

Healthcare (XLV)

North Korean Summit News Pushes Stocks Lower

Industrials (XLI)

North Korean Summit News Pushes Stocks Lower

Materials (XLB)

North Korean Summit News Pushes Stocks Lower

Technology (XLK)

North Korean Summit News Pushes Stocks Lower

Utilities (XLU)

North Korean Summit News Pushes Stocks Lower

S&P 500 Sector Heat Map

North Korean Summit News Pushes Stocks Lower

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