Stocks Ascend High Despite Rise in China Tensions

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as stocks ascend higher despite rise in China tensions. 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:

https://www.cnbc.com/2020/05/14/stock-market-futures-open-to-close-news.html

The S&P 500 (SPY) rose +0.39% today. Sector advancers led decliners 6 to 5 as shown below in the sector graph. Gains ranged from +1.38% to less than 1%. Losses ranged from -1.33% to less than 1%, check the sector graph for specifics.

The Dow Jones index added +60 points (+0.25%) to close at 23,685. The Nasdaq advanced +70 points (+0.79%) to settle at 9,014.

Stocks Ascend High Despite Rise in China Tensions

Stocks gained ground Friday despite horrible economic data and rising US & China tensions.

The Trump administration moved to block semiconductor shipments to Chinese company Huawei. The Commerce Department said it would “strategically target Huawei’s acquisition of semiconductors that are the direct product of certain U.S. software and technology.”

Meanwhile, Hu Xijin, editor-in-chief of Chinese state-run publication Global Times, tweeted on Friday that China would “restrict or investigate” U.S. companies including Qualcomm, Cisco Systems and Apple if the U.S. takes further action to block Huawei’s supply chain. Hu’s Twitter account was closely followed last year by traders looking for insight on the U.S.-China trade war.

Key Takeaways…

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 movers.

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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S&P 500 Sector Graph

Stocks Ascend High Despite Rise in China Tensions

S&P 500 (SPY)

Stocks Ascend High Despite Rise in China Tensions

Communication Services (XLC)

Stocks Ascend High Despite Rise in China Tensions

Consumer Discretionary (XLY)

Stocks Ascend High Despite Rise in China Tensions

Consumer Staples (XLP)

Stocks Ascend High Despite Rise in China Tensions

Energy (XLE)

Stocks Ascend High Despite Rise in China Tensions

https://www.buzzsprout.com/731096/2393342

Financials (XLF)

Stocks Ascend High Despite Rise in China Tensions

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Stocks Ascend High Despite Rise in China Tensions

https://www.buzzsprout.com/731096/2788792

Utilities (XLU)

S&P 500 Sector Heat Map

 

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