Sector Rotation Crushing Tech Stocks

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after sector rotation crushing tech stocks. 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:

US futures point to a weak open as tech stocks come under pressure

U.S. stock index futures fell into the red ahead of Wednesday’s open, as investors turned their attention to the corporate and political space. Around 5:30 a.m. ET, Dow futures slipped 50 points, indicating a drop of 38.71 points at the open. The Nasdaq and the S&P 500 futures also indicated a negative open for their respective markets.

The S&P 500 (SPY) closed lower by -0.29% today as sector rotation crushing tech stocks. Sector decliners led advancers by 6 to 4 as shown in the sector graph below. Energy (XLE), materials (XLB) and consumer discretionary (XLY) each had declines of -1% or more. Industrials (XLI), technology (XLK) and utilities (XLU) each had minor losses of less than 1%. Consumer staples (XLP) and real estate (XLRE) had gains of 1% or more. Financials (XLF) and healthcare (XLV) had minor advancements of less than 1%.

The Dow Jones index finished right below the flatline, losing -9 points (-0.04%) to close at 23,848. The Nasdaq lost -0.85% on the session, giving back -59 points to settle at 6,949.

Tech stocks continued to take a beating bringing the overall market down with them. Amazon fell -4% on a report that said President Trump has talked about using anti-trust law to rein in the power of the company. Apple fell on the day as Goldman Sachs predicted lower iPhone sales than forecasted. Sector rotation is taking place, out of tech into more fairly/undervalued stocks.

Notable S&P movers…

  • AAPL -1.10%
  • AMZN -4.38%
  • XOM -1.21%
  • NFLX -4.96%
  • NKE -1%
  • ABBV +2.46%
  • INTC -3%
  • CSCO -2.39%

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.

3/28/18

S&P 500 Sector Graph

Sector Rotation Crushing Tech Stocks

S&P 500 (SPY)

Sector Rotation Crushing Tech Stocks

Consumer Discretionary (XLY)

Sector Rotation Crushing Tech Stocks

Consumer Staples (XLP)

Sector Rotation Crushing Tech Stocks

Energy (XLE)

Sector Rotation Crushing Tech Stocks

Financials (XLF)

Sector Rotation Crushing Tech Stocks

Real Estate (XLRE)

Sector Rotation Crushing Tech Stocks

Healthcare (XLV)

Sector Rotation Crushing Tech Stocks

Industrials (XLI)

Sector Rotation Crushing Tech Stocks

Materials (XLB)

Sector Rotation Crushing Tech Stocks

Technology (XLK)

Sector Rotation Crushing Tech Stocks

Utilities (XLU)

Sector Rotation Crushing Tech Stocks

S&P 500 Sector Heat Map

Sector Rotation Crushing Tech Stocks

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