Retail Earnings Miss Send Stocks Lower
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Retail Earnings Miss Send Stocks Lower. 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:
The S&P 500 (SPY) dropped 0.22% today as Retail Earnings Miss Send Stocks Lower. S&P sector decliners led advancers by 7 to 3. All seven declining sectors fell less than 1%… consumer discretionary (XLY), energy (XLE), financials (XLF), industrials (XLI), materials (XLB), real estate (XLRE) and technology (XLK). Consumer staples (XLP), healthcare (XLV) and utilities (XLU) are the three sectors that closed positive less than 1%.
U.S. equities closed lower on Thursday as retail stocks fell sharply on the back of Macy’s weak quarterly results. (CNBC) The S&P 500 declined 0.2 percent with Macy’s and Nordstrom dragging the index lower. The SPDR S&P Retail ETF (XRT) shed 2.7 percent as Macy’s shares tanked by 17 percent. (CNBC) The retailer’s stock has been under pressure all year. Entering Thursday’s session, it was down 18.07 percent. (CNBC) “The latest trend in retailing is not a surprise to investors this year,” said Jack Ablin, chief investment officer at BMO Private Bank, in a Thursday note. “Consumers, increasingly comfortable with buying a wider selection of goods online, have opted for price and convenience of the Internet.” (CNBC)
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.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map