Target Earnings Lift Retail Stocks Sentiment

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Target earnings lift retail stocks sentiment. 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:

Stock rise slightly as Wall Street shakes off renewed legal worries for Trump

Michael Nagle | Bloomberg | Getty Images Michael Cohen, Trump’s former personal lawyer, pleaded guilty to eight counts related to tax fraud, campaign contributions, making false statements to a financial institution, and unlawful corporate contributions. Cohen also admitted to making payments to two women at the direction of Trump.

The S&P 500 (SPY) slipped -0.04% today. Sector decliners led advancers 8 to 4 as shown below in the sector graph. Communication services (XLC), consumer staples (XLP), financials (XLF), industrials (XLI), materials (XLB), real estate (XLRE) and utilities (XLU) each had small losses of less than 1%. Energy (XLE) +1.20% led advancers. Consumer discretionary (XLY), healthcare (XLV) and technology (XLK) each had minor gains of less than 1%.

The Dow Jones index subtracted 88 points (-0.34%) to close at 25,733. The Nasdaq was in the green by +29 points (+0.38%) to settle at 7,889.

Target Earnings Lift Retail Stocks Sentiment

Strong earnings from retailer Target (TGT) helped lift investor sentiment as Wall Street digest more White House legal woes. Target reported robust earnings, same store growth of 13% as the company has been focusing and spending $7 billion in updating its e-commerce platform. When reading the above CNBC article, I came across this quote that best describes today’s market sentiment, “The political disruptions being caused by Trump are creating a lot of noise in the market,” said Janet Johnston, a portfolio manager at TrimTabs Asset Management. “But the underlying fundamentals remain strong.”

Key Takeaways…

I took the following CNBC screenshots this morning regarding market positioning, retail bright spots, the global story, political impact and what’s driving the market:

Target Earnings Lift Retail Stocks Sentiment

Target Earnings Lift Retail Stocks Sentiment

Target Earnings Lift Retail Stocks Sentiment

Target Earnings Lift Retail Stocks Sentiment

Target Earnings Lift Retail Stocks Sentiment

Notable S&P 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. Photo Credit: corporate.target.com Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

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8/22/18

S&P 500 Sector Graph

Target Earnings Lift Retail Stocks Sentiment

S&P 500 (SPY)

Target Earnings Lift Retail Stocks Sentiment

Communication Services (XLC)

Target Earnings Lift Retail Stocks Sentiment

Consumer Discretionary (XLY)

Target Earnings Lift Retail Stocks Sentiment

Consumer Staples (XLP)

Target Earnings Lift Retail Stocks Sentiment

Energy (XLE)

Target Earnings Lift Retail Stocks Sentiment

Financials (XLF)

Target Earnings Lift Retail Stocks Sentiment

Real Estate (XLRE)

Target Earnings Lift Retail Stocks Sentiment

Healthcare (XLV)

Target Earnings Lift Retail Stocks Sentiment

Industrials (XLI)

Target Earnings Lift Retail Stocks Sentiment

Materials (XLB)

Target Earnings Lift Retail Stocks Sentiment

Technology (XLK)

Target Earnings Lift Retail Stocks Sentiment

Utilities (XLU)

Target Earnings Lift Retail Stocks Sentiment

S&P 500 Sector Heat Map

Target Earnings Lift Retail Stocks Sentiment

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