Stocks Rebound Amidst Fed Meeting Watched Closely

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after stocks rebound amidst Fed meeting watched closely. 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 stocks set for a positive open ahead of Fed meeting

U.S. stock index futures were lower on Tuesday, but pointed to slight gains at the open, after U.S. equities pulled back in the previous session led by a sell-off of Facebook shares. Dow Jones industrial average futures fell 17 points, but indicated a rise of 45.09 points at the open.

The S&P 500 (SPY) inched up +0.15% today as stocks rebound amidst Fed meeting watched closely. Sector advancers tied decliners 5 to 5 as seen in the sector graph below. Consumer discretionary (XLY), energy (XLE), financials (XLF), healthcare (XLV) and industrials (XLI) each closed higher by less than 1%. Consumer staples (XLP), materials (XLB), real estate (XLRE), technology (XLK) and utilities (XLU) each lost less than 1% on the session.

The Dow Jones index added +116 points (+0.47%) closing at 24,727. The Nasdaq gained +20 points (+0.27%) settling at 7,364.

Stocks rebounded today from a tech selloff as investors shifted their focus towards the ongoing Fed meeting concluding on Wednesday with Fed Chair Powell’s first news conference. Wall Street’s expectations for a March rate hike stand at 94%. Investors will also look for clues if the FOMC stays on track for 3 hikes this year or tighten monetary policy faster by adding a 4th hike. The 10 year bond yield rose to 2.88% before the Fed announcement. Facebook (FB) dropped additional -2.50% today after the company lost -7% yesterday after an analytics firm that worked with Facebook was able to collect data on 50 million people’s profiles without their consent.

Notable S&P movers…

  • AMZN +2.69%
  • FB -2.56%
  • NFLX +1.28%
  • NKE +1.66%
  • BA +1.77%
  • CAT +1.26%
  • V +1.38%

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.

3/20/18

S&P 500 Sector Graph

Stocks Rebound Amidst Fed Meeting Watched Closely

S&P 500 (SPY)

Stocks Rebound Amidst Fed Meeting Watched Closely

Consumer Discretionary (XLY)

Stocks Rebound Amidst Fed Meeting Watched Closely

Consumer Staples (XLP)

Stocks Rebound Amidst Fed Meeting Watched Closely

Energy (XLE)

Stocks Rebound Amidst Fed Meeting Watched Closely

Financials (XLF)

Stocks Rebound Amidst Fed Meeting Watched Closely

Real Estate (XLRE)

Stocks Rebound Amidst Fed Meeting Watched Closely

Healthcare (XLV)

Stocks Rebound Amidst Fed Meeting Watched Closely

Industrials (XLI)

Stocks Rebound Amidst Fed Meeting Watched Closely

Materials (XLB)

Stocks Rebound Amidst Fed Meeting Watched Closely

Technology (XLK)

Stocks Rebound Amidst Fed Meeting Watched Closely

Utilities (XLU)

Stocks Rebound Amidst Fed Meeting Watched Closely

S&P 500 Sector Heat Map

Stocks Rebound Amidst Fed Meeting Watched Closely

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