Possible Coronavirus Resurgence Spooks Stocks

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as possible coronavirus resurgence spooks stocks. 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:

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Dow futures fall 100 points after rally in the previous session

U.S. stock futures moved lower in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy. Dow futures fell 130 points, indicating a loss of 0.5% at the open on Wednesday.

The S&P 500 (SPY) slipped -0.36% today. Sector decliners led advancers 10 to 1 as shown below in the sector graph. Losses ranged from -3.41% to less than 1%. Consumer staples (XLP) managed a minor gain of less than 1%.

The Dow Jones index lost -170 points (-0.65%) to close at 26,119. The Nasdaq added +14 points (+0.15%) to settle at 9,910.

Possible Coronavirus Resurgence Spooks Stocks

Stocks ended mixed Wednesday as a possible resurgence in the coronavirus worries investors.

Wednesday’s losses came amid lingering concerns over the coronavirus. Beijing has also canceled several domestic flights in order to curb the spread. On Tuesday, multiple report said China’s capital city shut down all schools amid a resurgence in coronavirus cases. In the U.S., more than 2.1 million cases have been confirmed, with states such as Arizona and Texas reporting a spike in cases.

Stocks were coming off sharp gains on Tuesday, helped by a bevy of bullish news, including a historic jump in retail sales. The U.S. government reported a record 17.7% increase in retail sales for May.

Federal Reserve Chairman Jerome Powell testified before House members on Wednesday, noting the central bank will move away from corporate bond ETFs in favor of direct corporate-bond purchases. “It’s a better tool for supporting liquidity and market functioning,” he said.

In front of the Senate Banking Committee on Tuesday, Powell warned of “significant uncertainty” about the economic recovery, adding small businesses are at risk following the pandemic.

Key Takeaways…

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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6/17/20

S&P 500 Sector Graph

Possible Coronavirus Resurgence Spooks Stocks

S&P 500 (SPY)

Possible Coronavirus Resurgence Spooks Stocks

Communication Services (XLC)

Possible Coronavirus Resurgence Spooks Stocks

Consumer Discretionary (XLY)

Possible Coronavirus Resurgence Spooks Stocks

Consumer Staples (XLP)

Possible Coronavirus Resurgence Spooks Stocks

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).

Energy (XLE)

Possible Coronavirus Resurgence Spooks Stocks

Financials (XLF)

Possible Coronavirus Resurgence Spooks Stocks

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

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.

Technology (XLK)

Possible Coronavirus Resurgence Spooks Stocks

Utilities (XLU)

S&P 500 Sector Heat Map

 

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