Oil Prices Swell Following Saudi Attack

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as oil prices swell following Saudi Attack. 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:

Dow falls 160 points to its low of the day on fears spiking oil will slow the global economy

Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.

The S&P 500 (SPY) dropped -0.31% today. Sector decliners led advancers 8 to 3 as shown below in the sector graph. Materials (XLB) and consumer discretionary (XLY) led decliners down with losses of more than 1%. Communication services (XLC), consumer staples (XLP), financials (XLF), healthcare (XLV), industrials (XLI) and technology (XLK) each suffered minor losses of less than 1%. Energy (XLE) popped +3.36% to lead advancers. Real estate (XLRE) also had a gain of more than 1%. Utilities (XLU) enjoyed a small gain of less than 1%.

The Dow Jones index gave up -142 points (-0.52%) to close at 27,076. The Nasdaq subtracted -23 points (-0.28%) to settle at 8,153.

Oil Prices Swell Following Saudi Attack

Stocks ended in the red Monday as an attack in Saudi Arabia saw oil prices pop higher, spooking investors about global growth.

West Texas Intermediate futures jumped more than 14%, notching its biggest one-day gain since 2008. WTI briefly rose more than 15% overnight. The sharp move higher comes after a series of drone strikes on Saturday knocked out about half of Saudi Arabia’s daily crude production. Iranian President Hassan Rouhani said Monday that the attack was a reciprocal response to attacks in Yemen.

Key Takeaways…

I took the following CNBC screenshots today regarding market’s key issues, recent downgrades and driving the action:

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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9/16/19

S&P 500 Sector Graph

Oil Prices Swell Following Saudi Attack

S&P 500 (SPY)

Oil Prices Swell Following Saudi Attack

Communication Services (XLC)

Oil Prices Swell Following Saudi Attack

Consumer Discretionary (XLY)

Oil Prices Swell Following Saudi Attack

Consumer Staples (XLP)

Oil Prices Swell Following Saudi Attack

Energy (XLE)

Oil Prices Swell Following Saudi Attack

Financials (XLF)

Oil Prices Swell Following Saudi Attack

Real Estate (XLRE)

Oil Prices Swell Following Saudi Attack

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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