Possible Monetary Easing Prompts Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as possible monetary easing prompts rally. 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 futures slightly higher after Fed chief signals a rate cut

U.S. stock index futures were slightly higher on Thursday morning, on the back of fresh comments by Fed Chairman Jerome Powell. At around 04:49 a.m. ET, Dow futures rose 49 points, indicating a positive open of more than 55 points. Futures on the S&P and Nasdaq were both seen slightly higher.

The S&P 500 (SPY) added +0.23% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), healthcare (XLV), industrials (XLI), materials (XLB), technology (XLK) and utilities (XLU) each found small gains of less than 1%. Real estate (XLRE) was the only sector to finish negative on the day, losing 1.28%.

The Dow Jones index jumped +227 points (+0.85%) to close at 27,088. The Nasdaq slipped 6 points (-0.08%) to settle at 8,196.

Possible Monetary Easing Prompts Rally

Stocks rallied on Thursday, with the Dow blowing past 27,000 for the first time after further Fed Chair Powell testimony supported future monetary easing.

The Dow’s Path to 27,000

The Dow reached the 27,000 level on Thursday after reaching 26,000 in January 2018.

Microsoft has been the best-performing Dow stock since the index’s first close above 26,000, surging around 50% in that time. Visa, Cisco Systems and Nike are also up sharply since then.

Key Takeaways…

I took the following CNBC screenshots today regarding trade talks, the road to 3,000, from 2k to 3k, tech dominating and the road to 27,000:

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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S&P 500 Sector Graph

Possible Monetary Easing Prompts Rally

S&P 500 (SPY)

Possible Monetary Easing Prompts Rally

Communication Services (XLC)

Possible Monetary Easing Prompts Rally

Consumer Discretionary (XLY)

Possible Monetary Easing Prompts Rally

Consumer Staples (XLP)

Possible Monetary Easing Prompts Rally

Energy (XLE)

Possible Monetary Easing Prompts Rally

Financials (XLF)

Possible Monetary Easing Prompts Rally

Real Estate (XLRE)

Possible Monetary Easing Prompts Rally

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map


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