Receding Risks Drive Stocks Higher

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as receding risks drive stocks higher. 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 point to a modest open as investors await Federal Reserve meeting

U.S. stock index futures were higher on Monday morning, as investors monitor the start of a two-day Federal Reserve policy meeting this week. At around 02:53 a.m. ET, Dow futures rose 21 points, indicating a positive open of more than 42 points. Futures on the S&P and Nasdaq were both seen slightly higher.

The S&P 500 (SPY) rose by +0.37% today. Sector advancers led decliners 7 to 4 as shown below in the sector graph. Energy (XLE) +1.39% and financials (XLF) +1.01% led market higher. Consumer discretionary (XLY), consumer staples (XLP), industrials (XLI), materials (XLB) and technology (XLK) each had small gains of less than 1%. Communication services (XLC), healthcare (XLV), real estate (XLRE) and utilities (XLU) each had minor losses of less than 1%.

The Dow Jones index climbed +65 points (+0.25%) to close at 25,914. The Nasdaq added +25 points (+0.34%) to settle at 7,714.

Receding Risks Drive Stocks Higher

Stocks rose on Monday as advancers outweighed the laggards. Investors found strength in Microsoft (MSFT), Apple (AAPL) and Amazon (AMZN) while Boeing (BA) continued its recent downslide as more news develops from the recent 737 Max plane crashes. Facebook (FB) also finished in the red resulting from a downgrade stating the possibility of more regulatory scrutiny. I found the following quote from the above CNBC article informative regarding S&P 500 sentiment, Jonathan Golub, chief U.S. equity strategist at Credit Suisse, hiked his 2019 target on the S&P 500 to 3,025 from 2,925. The strategist cited “receding” risks will drive stocks higher, noting: “Less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher.”

Key Takeaways…

I took the following CNBC screenshots this morning regarding technical breakout, can the rally roll on and earnings stabilizing:

Receding Risks Drive Stocks Higher

Receding Risks Drive Stocks Higher

Receding Risks Drive Stocks Higher

Notable S&P 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.

Download our new Handy ETF Guide

Subscribe to get our free weekly newsletter by email.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

3/18/19

S&P 500 Sector Graph

Receding Risks Drive Stocks Higher

S&P 500 (SPY)

Receding Risks Drive Stocks Higher

Communication Services (XLC)

Receding Risks Drive Stocks Higher

Consumer Discretionary (XLY)

Receding Risks Drive Stocks Higher

Consumer Staples (XLP)

Receding Risks Drive Stocks Higher

Energy (XLE)

Receding Risks Drive Stocks Higher

Financials (XLF)

Receding Risks Drive Stocks Higher

Real Estate (XLRE)

Receding Risks Drive Stocks Higher

Healthcare (XLV)

Receding Risks Drive Stocks Higher

Industrials (XLI)

Receding Risks Drive Stocks Higher

Materials (XLB)

Receding Risks Drive Stocks Higher

Technology (XLK)

Receding Risks Drive Stocks Higher

Utilities (XLU)

Receding Risks Drive Stocks Higher

S&P 500 Sector Heat Map

Receding Risks Drive Stocks Higher

Leave a Reply

Your email address will not be published. Required fields are marked *