Tech Recuperates Alongside Oversold Conditions

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as tech recuperates alongside oversold conditions. 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:

Dow rises more than 150 points as tech tries to ebb slide

Brendan McDermid | Reuters While Facebook have since come out to apologize and try to rectify the matter, concerns remain over data use. In the latest surrounding the debacle, Facebook unveiled new tools on Wednesday designed to make it easier for users to look at and access the data that the social media giant has on each user.

The S&P 500 (SPY) rallied +1.38% today as tech recuperates alongside oversold conditions. Sector advancers led decliners 9 to 1 as shown in the sector graph below. Energy (XLE) led advancers with a +2.11% gain. Consumer discretionary (XLY), financials (XLF), industrials (XLI), materials (XLB) and technology (XLK) each added +1% or more. Consumer staples (XLP), healthcare (XLV) and utilities (XLU) each had small gains of less than 1%. Real estate (XLRE) had a minor loss of less than 1%.

The Dow Jones index jumped +254 points (+1.07%) to close at 24,103. The Nasdaq climbed +114 points (+1.64%) to settle at 7,063.

Tech stocks rallied +2%, rebounded from oversold conditions and lifted the overall market. However, technology (XLK) ended the month -4% lower amid Facebook’s data scandal and Amazon’s recent decline after the President’s comments regarding its tax treatment. Thursday marked the end of the 1st quarter. The Dow and S&P ended the quarter -2.3% and -1.2% respectively, ending a 9 quarter winning streak. The Nasdaq gained +2.3% on the quarter.

Notable S&P movers…

  • MSFT +2.10%
  • AMZN +1.11%
  • JPM +1.82%
  • FB +4.42%
  • XOM +2.47%
  • GOOGL +3.18%
  • HD +1.99%
  • NFLX +3.35%
  • V +2.25%
  • CSCO +2.57%
  • BA +2.46%

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.

3/29/18

S&P 500 Sector Graph

Tech Recuperates Alongside Oversold Conditions

S&P 500 (SPY)

Tech Recuperates Alongside Oversold Conditions

Consumer Discretionary (XLY)

Tech Recuperates Alongside Oversold Conditions

Consumer Staples (XLP)

Tech Recuperates Alongside Oversold Conditions

Energy (XLE)

Tech Recuperates Alongside Oversold Conditions

Financials (XLF)

Tech Recuperates Alongside Oversold Conditions

Real Estate (XLRE)

Tech Recuperates Alongside Oversold Conditions

Healthcare (XLV)

Tech Recuperates Alongside Oversold Conditions

Industrials (XLI)

Tech Recuperates Alongside Oversold Conditions

Materials (XLB)

Tech Recuperates Alongside Oversold Conditions

Technology (XLK)

Tech Recuperates Alongside Oversold Conditions

Utilities (XLU)

Tech Recuperates Alongside Oversold Conditions

S&P 500 Sector Heat Map

Tech Recuperates Alongside Oversold Conditions

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