Rates Rise Helping Stocks Delete Loses

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as rates rise helping stocks delete loses. 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:

Stocks rally, pushing S&P 500 into positive territory for the wild week

Stocks rose on Thursday, erasing most of the steep losses from earlier in the week, as global bond yields rebounded while investors digested better-than-expected trade data out of China. The Dow Jones Industrial Average closed 371.12 points higher, or 1.4% to 26,378.19. The S&P 500 advanced 1.9% to 2,938.09 while the Nasdaq Composite surged 2.2% to 8,039.16.

The S&P 500 (SPY) rose +1.88% today. All 11 sectors finished in the green. Technology (XLK), communication services (XLC) and energy (XLE) led the market higher with gains of +2% or more. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF0, healthcare (XLV), industrials (XLI), materials (XLB), real estate (XLRE) and utilities (XLU) each enjoyed gains of more than 1%.

The Dow Jones index popped +371 points (+1.43%) to close at 26,378. The Nasdaq added +176 points (+2.24%) to settle at 8,039.

Rates Rise Helping Stocks Delete Loses

Stocks rebounded and recovered from earlier in the week losses on Thursday. Thru Thursday close, the S&P 500 and the Nasdaq were up +0.20% and +0.40% respectively on the week. The Dow is down -0.40% for the week.

The US 10 year bond yield traded at 1.72% after dropping to 1.6% in yesterday’s session.

Key Takeaways…

I took the following CNBC screenshots today regarding market themes, risk of recession, defensive winners and utilities…the crowded trade:

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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8/8/19

S&P 500 Sector Graph

Rates Rise Helping Stocks Delete Loses

S&P 500 (SPY)

Rates Rise Helping Stocks Delete Loses

Communication Services (XLC)

Rates Rise Helping Stocks Delete Loses

Discretionary (XLY)

Rates Rise Helping Stocks Delete Loses

Consumer Staples (XLP)

Rates Rise Helping Stocks Delete Loses

Energy (XLE)

Rates Rise Helping Stocks Delete Loses

Financials (XLF)

Rates Rise Helping Stocks Delete Loses

Real Estate (XLRE)

Rates Rise Helping Stocks Delete Loses

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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