Stocks Turn Deaf Ear Toward Washington Chaos
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Stocks Turn Deaf Ear Toward Washington Chaos. 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:
The S&P 500 (SPY) fell 0.07% (flat) today as Stocks Turn Deaf Ear Toward Washington Chaos. S&P sector decliners led advancers by 7 to 3. Sector decliners that dropped less than 1% included consumer discretionary (XLY), consumer staples (XLP), energy (XLE), healthcare (XLV), industrials (XLI), real estate (XLRE) and utilities (XLU). Three sectors gained less than 1%… financials (XLF), materials (XLB) and technology (XLK).
The S&P and Nasdaq have managed record highs recently despite an array of mixed news coming out of Washington. (CNBC) “On balance, we’ve got a market that seems impervious to what’s going on in Washington,” said Art Hogan, chief market strategist at Wunderlich Securities. “I think the market’s keying on Washington’s ability to push tax reform.” (CNBC) The Dow Jones industrial average closed flat, with IBM contributing the most gains and UnitedHealth the most losses. (CNBC)
Home Depot also contributed gains on the Dow after reporting first-quarter earnings of $1.67 a share on revenue of $23.89 billion. Analysts polled by Reuters expected a profit of $1.62 per share on sales of $23.74 billion. Home Depot’s stock rose about 1.5 percent. (CNBC) “HD continues to set the pace in home improvement retail. While a rising tide in the category is benefitting the company, HD continues to execute at the top of its game, driving market share gains and posting record results,” Wedbush analyst Seth Basham said in a note.(CNBC)
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.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map