Tech Sector Draws Attention Following Declining Month
Here is a weekly recap of the S&P 500 broken down by sector (holding weightings %, YTD % and % in top 10 holdings) followed by sector heat map after tech sector draws attention following declining month. 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 this week’s action on Wall Street provided by CNBC:
Kim Jong-un visits China, President Trump blasts Amazon and Stormy Daniels goes on the record about an alleged affair with President Trump.
The S&P 500 (SPY) dropped just below the flatline, falling -0.11% for the week as the tech sector draws attention following declining month. Sector advancers beat decliners 6 to 4 for the week as shown below in the sector graph. Consumer staples (XLP) led gainers with a +2.19% gain for the week. Real estate (XLRE) and utilities (XLU) each had +1% or more advances. Energy (XLE), healthcare (XLV) and industrials (XLI) each added less than 1% on the week. Consumer discretionary (XLY), financials (XLF), materials (XLB) and technology (XLK) each had minor losses of less than 1% on the week.
The Dow Jones index finished the week looking like it barely moved, adding +0.85% this week. The tech heavy Nasdaq lost -1.64% on the week.
Stocks surged +2% or more on Monday as trade tensions between the U.S. and China seem to be cooling after Treasury Secretary Steven Mnuchin said negotiations were going on to see if we can reach an agreement. A tech selloff on Tuesday pulled stocks down. Shares of Facebook and Nvidia helped the Nasdaq almost lose -3%. Tech continued taking a beating on Wednesday, taking the whole market down. Amazon fell -4% after President Trump’s comments regarding its tax treatment. Tech stocks finally rebounded and rallied +2% on Thursday to recover from recent oversold conditions. However, technology (XLK) ended the month lower by -4% amid Facebook’s data scandal and Amazon’s recent decline.
Weekly performance of the SPY’s (S&P 500) top 10 holdings…
- AAPL -0.63%
- MSFT +1.65%
- AMZN -6.32%
- BRK.B +0.94%
- FB -3%
- JPM +0.02%
- JNJ +0.60%
- XOM +1.51%
- GOOG -1.65%
- GOOGL -1.52%
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