Strong Earnings Plus Good News Powering Stocks

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as strong earnings plus good news powering 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:

US futures point to mixed open

The moves in pre-market trade come amid heightened concerns about the health of the world’s largest economy.

The S&P 500 (SPY) rose +0.28% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), real estate (XLRE), healthcare (XLV), industrials (XLI), materials (XLB) and utilities (XLU) each enjoyed minor gains of less than 1%. Technology (XLK) suffered a small loss of less than 1%.

The Dow Jones index added +23 points (+0.09%) to close at 27,025. The Nasdaq advanced +32 points (+0.40%) to settle at 8,156.

Strong Earnings Plus Good News Powering Stocks

Stocks ended in the green Thursday as a strong start to earnings season continued.

Netflix shares rose 2.5% after the video streamer posted earnings that topped analyst expectations. The company reported a bigger-than-expected increase in international paid subscribers, which mitigated a big miss in domestic subscriber adds.

Overall, the corporate earnings season is off to a solid start. More than 78% of the S&P 500 companies that have reported have topped analyst earnings expectations, according to FactSet.

Stocks also rose after U.K. Prime Minister Boris Johnson said “we have a great new Brexit deal” via Twitter. He called on British lawmakers to back the deal when it’s put before Parliament on Saturday. Meanwhile, European Commission President Jean-Claude Juncker tweeted that the deal was a “fair and balanced” one.

This is not a done deal, however. The U.K. Parliament has to approve the deal before it can be implemented.

Key Takeaway…

I took the following CNBC screenshot today regarding big banks’ results:

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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10/17/19

S&P 500 Sector Graph

Strong Earnings Plus Good News Powering Stocks

S&P 500 (SPY)

Strong Earnings Plus Good News Powering Stocks

Communication Services (XLC)

Strong Earnings Plus Good News Powering Stocks

Consumer Discretionary (XLY)

Strong Earnings Plus Good News Powering Stocks

Consumer Staples (XLP)

Strong Earnings Plus Good News Powering Stocks

Energy (XLE)

Strong Earnings Plus Good News Powering Stocks

Financials (XLF)

Strong Earnings Plus Good News Powering Stocks

Real Estate (XLRE)

Strong Earnings Plus Good News Powering Stocks

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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