Positive Resolution Giving Stocks Momentum

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as positive resolution giving stocks momentum. 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 rises 100 points to kick off the holiday week, Boeing shares lead the gains

Stocks climbed on Monday to start the holiday week after China said it will cut import tariffs on a wide range of goods. The Dow Jones Industrial Average was trading about 104 points higher, while the S&P 500 and Nasdaq rose 0.1% and 0.2%, respectively.

The S&P 500 (SPY) inched up +0.09% today. Sector decliners led advancers 6 to 5 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), financials (XLF), real estate (XLRE) and utilities (XLU) each suffered small losses of less than 1%. Energy (XLE) led advancers with a +1.03% gain. Healthcare (XLV), industrials (XLI), materials (XLB) and technology (XLK) each enjoyed minor gains of less than 1%.

The Dow Jones index added +96 points (+0.34%) to close at 28,551. The Nasdaq rose by +20 points (+0.23%) to settle at 8,945.

Positive Resolution Giving Stocks Momentum

Stocks continued their December rally as positive resolution to several key issues have given stocks momentum going into year end.

Shares of Boeing led the gains, jumping 2.9% after the company ousted CEO Dennis Muilenburg amid the 737 Max crisis.

Investors cheered the news that China will cut import tariffs on a wide range of goods. China’s finance ministry announced starting January 1, it will lower import tariffs on over 850 products ranging from frozen pork to some types of semiconductors. China is making efforts to boost imports amid a slowing economy and a trade war with the U.S.

“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal, a dovish Fed, economic data that isn’t getting worse and Brexit resolution,” Tom Essaye, founder of Sevens Report, said in a note on Monday.

The S&P 500 was up more than 1.5% last week and posted its fourth consecutive weekly gain. The benchmark has risen for the eighth time in the past nine sessions and rallied 28.6% for 2019 through Monday’s close.

Key Takeaways…

I took the following CNBC screenshots today regarding S&P 500 this time last year, why new highs, S&P 500 this year, S&P 500: the big five and driving the action:

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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12/23/19

S&P 500 Sector Graph

Positive Resolution Giving Stocks Momentum

S&P 500 (SPY)

Positive Resolution Giving Stocks Momentum

Communication Services (XLC)

Positive Resolution Giving Stocks Momentum

Consumer Discretionary (XLY)

Positive Resolution Giving Stocks Momentum

Consumer Staples (XLP)

Positive Resolution Giving Stocks Momentum

Energy (XLE)

Positive Resolution Giving Stocks Momentum

Financials (XLF)

Positive Resolution Giving Stocks Momentum

Real Estate (XLRE)

Positive Resolution Giving Stocks Momentum

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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