Stark Data Plus China Tensions Push Stocks Red

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as stark data plus China tensions push stocks red. 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:

U.S. stock futures tick higher as Wall Street looks to extend week’s rally

Futures contracts tied to the major U.S. stock indexes inched higher at the start of the overnight session Wednesday evening as investors looked to extend Wall Street’s robust gains so far this week. Dow Jones Industrial Average futures ticked up 20 points, indicating an opening gain of just 30 points when regular trading resumes on Thursday.

The S&P 500 (SPY) dropped -0.78% today. Sector decliners led advancers 9 to 2 as shown below in the sector graph. Losses ranged from -1.60% to less than 1%, check the sector graph for specifics. Consumer discretionary (XLY) and industrials (XLI) squeezed out minor gains of less than 1%.

The Dow Jones index fell -101 points (-0.41%) to close at 24,474. The Nasdaq gave back -90 points (-0.97%) to settle at 9,284.

Stark Data Plus China Tensions Push Stocks Red

Stocks fell Thursday as the stock market and economy don’t match but states reopening & potential vaccines are driving optimism.

The Labor Department reported Thursday another 2.4 million people filed for unemployment benefits last week. Thursday’s report brings the total number of filings during the pandemic to more than 38 million. The number of continuing claims was at 25.07 million, its highest level on record.

Rising tensions between China and the U.S. tempered market sentiment on Thursday. On Wednesday, the Senate passed a bill that could ban Chinese companies such as Alibaba and Baidu from listing on U.S. exchanges.

That measure was passed after President Donald Trump said in a tweet that the “incompetence of China” caused “this mass Worldwide killing,” referring to the coronavirus.

“The broad market has taken some support from positive treatment and vaccine headlines as a complement to a generally more optimistic economic reopening,” LPL Research wrote Wednesday.

Key Takeaways…

Jablonski: The markets and economy don’t really match, but news of states reopening and potential vaccines are driving optimism

Sylvia Jablonski of Direxion says with markets closing in on all-time highs, even amid the pandemic, it’s important now more than ever to have a diversified portfolio, take a small percentage and look for short-term opportunities.

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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5/21/20

S&P 500 Sector Graph

Stark Data Plus China Tensions Push Stocks Red

S&P 500 (SPY)

Stark Data Plus China Tensions Push Stocks Red

Communication Services (XLC)

Stark Data Plus China Tensions Push Stocks Red

Consumer Discretionary (XLY)

Stark Data Plus China Tensions Push Stocks Red

Consumer Staples (XLP)

Stark Data Plus China Tensions Push Stocks Red

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).

Energy (XLE)

Financials (XLF)

Stark Data Plus China Tensions Push Stocks Red

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)

Stark Data Plus China Tensions Push Stocks Red

Utilities (XLU)

S&P 500 Sector Heat Map

 

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