Regulation Fears Spark Tech Selloff

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as regulation fears spark tech selloff. 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 fall amid trade battles, Alphabet shares slide

Stocks traded lower on Monday, the first trading day of June, after China’s rhetoric on U.S. trade relationship intensified over the weekend. The Dow Jones Industrial Average dipped 18 points while the S&P 500 traded 0.2% lower. The Nasdaq Composite dropped 0.7%, dragged down by Alphabet and Facebook shares.

The S&P 500 (SPY) slipped -0.28% today. Sector advancers led decliners 8 to 3 as shown below in the sector graph. Materials (XLB) led advancers higher with a +3.15% gain. Consumer staples (XLP), energy (XLE) and utilities (XLU) each had gains of +1% or higher. Financials (XLF), healthcare (XLV), industrials (XLI) and real estate (XLRE) each had small gains of less than 1%. Communication services (XLC) led decliners down with a loss of 3.14%. Technology (XLK) also lost 1.75%. Consumer discretionary (XLY) had a minor loss of less than 1%.

The Dow Jones index inched up +4 points (+0.02%) to close at 24,819. The Nasdaq dropped 120 points (-1.61%) to settle at 7,333.

Regulation Fears Spark Tech Selloff

Tech stocks sank on Monday as reports surfaced the US government is planning to target big tech companies with anti trust probes. Alphabet, Amazon, Facebook and Apple each fell on the news of the anti trust probes into big tech companies.

Key Takeaways…

I took the following CNBC screenshots this morning regarding the big issues, Dow components and the right multiple:

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.

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6/3/19

S&P 500 Sector Graph

Regulation Fears Spark Tech Selloff

S&P 500 (SPY)

Regulation Fears Spark Tech Selloff

Communication Services (XLC)

Regulation Fears Spark Tech Selloff

Consumer Discretionary (XLY)

Regulation Fears Spark Tech Selloff

Consumer Staples (XLP)

Regulation Fears Spark Tech Selloff

Energy (XLE)

Regulation Fears Spark Tech Selloff

Financials (XLF)

Regulation Fears Spark Tech Selloff

Real Estate (XLRE)

Regulation Fears Spark Tech Selloff

Healthcare (XLV)

Regulation Fears Spark Tech Selloff

Industrials (XLI)

Regulation Fears Spark Tech Selloff

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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