September Jobs Report Hits Sweet Spot

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as September jobs report hits sweet spot. 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 slightly higher open

U.S. stock index futures indicated a slightly higher open on Wall Street Friday morning.

The S&P 500 (SPY) rose by +1.42% today. All 11 sectors landed in the green as shown below in the sector graph. Communication services (XLC), consumer staples (XLP), financials (XLF), healthcare (XLV), industrials (XLI), technology (XLK) and utilities (XLU) each had gains of more than 1%. Consumer discretionary (XLY), energy (XLE), materials (XLB) and real estate (XLRE) each enjoyed small gains of less than 1%.

The Dow Jones index jumped +372 points (+1.42%) to close at 26,573. The Nasdaq climbed +110 points (+1.40%) to settle at 7,982.

September Jobs Report Hits Sweet Spot

Stocks rebounded on Friday as investors cheered a September jobs report that hit the sweet spot.

The U.S. economy added 136,000 jobs in September, the Bureau of Labor Statistics said Friday. Economists polled by Dow Jones expected an increase of 145,000 jobs. However, the unemployment rate fell to 3.5%, a 50-year low.

Friday’s jobs report was solid enough to dampen recession fears, but lackluster enough to keep the Federal Reserve on track to cut rates again later this month. Expectations for a 25 basis-point rate cut were at 79% on Friday, according to the CME Group’s FedWatch tool.

Key Takeaways…

I took the following CNBC screenshots today regarding sectors this week, jobs report today, pulse of the consumer, trade talks, September jobs report, where the jobs are, Wall Street’s wild week and driving the action:

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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10/4/19

S&P 500 Sector Graph

September Jobs Report Hits Sweet Spot

S&P 500 (SPY)

September Jobs Report Hits Sweet Spot

Communication Services (XLC)

September Jobs Report Hits Sweet Spot

Consumer Discretionary (XLY)

September Jobs Report Hits Sweet Spot

Consumer Staples (XLP)

September Jobs Report Hits Sweet Spot

Energy (XLE)

September Jobs Report Hits Sweet Spot

Financials (XLF)

September Jobs Report Hits Sweet Spot

Real Estate (XLRE)

September Jobs Report Hits Sweet Spot

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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