Strong Earnings Beats Power Stocks
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after strong earnings beats power stocks. 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 index futures are expected to post modest gains at Tuesday’s open, as the busiest week of the earnings season kicks up a notch. Corporate earnings are expected to be front and center of investors’ minds Tuesday as Wall Street gears up for financial figures from the likes of 3M, Biogen, Caterpillar, Eli Lilly, General Motors, Lockheed Martin, McDonald’s, United Technologies, Polaris Industries and JetBlue, ahead of the opening bell.
The S&P 500 (SPY) climbed 0.16% today as strong earnings beats power stocks. S&P sector advancers led decliners by 7 to 3. Consumer discretionary (XLY), energy (XLE), financials (XLF), industrials (XLI), materials (XLB), technology (XLK) and utilities (XLU) all were up on the day less than 1%. Consumer staples (XLP), healthcare (XLV) and real estate (XLRE) all ended lower by less than 1%.
The Dow Jones index roared 168-points higher closing at 23,441. The Nasdaq added 11-points ending at 6,598.
The main focal point from today’s session was the string of strong earnings beats reported this morning. 3M and Caterpillar both reported powerful earnings beats while raising future guidance. Both companies helped supply most of the Dow’s gains on the day.
Some bright spots and standouts from today’s action included JP Morgan Chase (JPM) jumping more than 1% as a majority of the financials ETF (XLF) top 10-holdings rose as the sector caught a strong bid today. Investors were taking profits in Johnson & Johnson (JNJ) today as the the stock faltered more than 1%. However the company is up 23% YTD.
UCredit: 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