Reliable Growth Stocks Driving Momentum Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as reliable growth stocks driving momentum 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 rise 100 points as investors shake off a continued spike in coronavirus cases

Stock futures rose in overnight trading on Sunday as investors looked past a record spike in coronavirus cases in Florida. Futures on the Dow Jones Industrial Average gained about 130 points, pointing to a 160-point gain at Monday’s open. The S&P 500 futures and the Nasdaq 100 futures rose 0.5% and 0.4%, respectively.

The S&P 500 (SPY) slipped -0.94% today. Sector decliners led advancers 6 to 5 as shown below in the sector graph. Losses ranged from -2.06% to less than 1%. Financials (XLF), healthcare (XLV), industrials (XLI), materials (XLB) and utilities (XLU) each enjoyed minor gains of less than 1%.

The Dow Jones index had a minimal gain of +10 points (+0.04%) to close at 26,085. The Nasdaq sank -226 points (-2.13%) to settle at 10,390.

Reliable Growth Stocks Driving Momentum Rally

Stocks gave up a major rally Monday as momentum names gave up gains towards the close.

Facebook, Amazon, Netflix, and Alphabet all closed at least 1.7% lower. Apple fell 0.5% and Microsoft lost 3.1%. Earlier in the day, these stocks were broadly higher. These names are some of the market stalwarts this year, as investors keep betting they will perform well during the pandemic.

The Dow and the S&P 500 are coming off two consecutive weeks of gains, while the resilience in tech shares pushed the Nasdaq to a new record after three straight positive weeks.

Pfizer and German biotech BioNTech SE were granted fast track designation by the FDA for two of the companies’ four vaccine candidates against the coronavirus.

The news on BioNTech and Pfizer’s vaccine candidates came after Florida reported 15,299 new coronavirus cases on Sunday, the highest single day total for any U.S. state since the pandemic began. Meanwhile, the U.S. has reported more than 60,000 new cases daily for three days in a row now, bringing the national total to more than 3 million cases, according to data from Johns Hopkins University.

Key Takeaway…

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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7/13/20

S&P 500 Sector Graph

Reliable Growth Stocks Driving Momentum Rally

S&P 500 (SPY)

Reliable Growth Stocks Driving Momentum Rally

Communication Services (XLC)

Reliable Growth Stocks Driving Momentum Rally

Consumer Discretionary (XLY)

Reliable Growth Stocks Driving Momentum Rally

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).

Consumer Staples (XLP)

Reliable Growth Stocks Driving Momentum Rally

Energy (XLE)

Reliable Growth Stocks Driving Momentum Rally

Financials (XLF)

Reliable Growth Stocks Driving Momentum Rally

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)

Reliable Growth Stocks Driving Momentum Rally

Utilities (XLU)

S&P 500 Sector Heat Map

 

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