Stocks Pullback From Highs Following Coronavirus

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as stocks pullback from highs following coronavirus. 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 sharply lower

U.S. stock index futures were sharply lower on Tuesday as concerns over a new strain of pneumonia in China spooked risk investment worldwide. At around 1:30 a.m. ET, Dow futures dropped 91 points, indicating an implied negative open of more than 120 points. Futures on the S&P 500 and Nasdaq were also lower.

The S&P 500 (SPY) dropped -0.27% today. Sector decliners led advancers 7 to 4 as shown below in the sector graph. Energy (XLE) led decliners down with a -1.79% loss followed by industrials (XLI) -1.10% and materials (XLB) -1.08%. Communication services (XLC), consumer discretionary (XLY), financials (XLF) and technology (XLK) each suffered minor losses of less than 1%. Real estate (XLRE) led advancers with gain of +1.01%. Consumer staples (XLP), healthcare (XLV) and utilities (XLU) each enjoyed small gains of less than 1%.

The Dow Jones index landed in negative territory by -152 points (0.52%) to close at 29,196. The Nasdaq was in the red by -18 points (-0.19%) to settle at 9,370.

Stocks Pullback From Highs Following Coronavirus

Stocks fell from recent highs Tuesday as the first case of the Coronavirus in the US was reported. 

The outbreak of the new coronavirus in China has killed four people with confirmed cases exceeding 200 ahead of the Lunar New Year holiday, during which hundreds of millions of people are expected to travel. Late on Monday, Chinese authorities confirmed that the virus is contagious.

Boeing shares added to the downturn, falling more than 3% on news the company doesn’t expect regulators to sign off on the beleaguered jet, the 737 Max, until June or July. The shares were briefly halted.

Key Takeaway…

I took the following CNBC screenshot regarding 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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1/21/19

S&P 500 Sector Graph

Stocks Pullback From Highs Following Coronavirus

S&P 500 (SPY)

Stocks Pullback From Highs Following Coronavirus

Communication Services (XLC)

Stocks Pullback From Highs Following Coronavirus

Consumer Discretionary (XLY)

Stocks Pullback From Highs Following Coronavirus

Consumer Staples (XLP)

Stocks Pullback From Highs Following Coronavirus

Energy (XLE)

Stocks Pullback From Highs Following Coronavirus

Financials (XLF)

Stocks Pullback From Highs Following Coronavirus

Real Estate (XLRE)

Stocks Pullback From Highs Following Coronavirus

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

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Episode 1 goes over my basic investment strategy for individual investors (from years of watching and learning from CNBC).

 

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