Tech Sector Largely Deflates Stock Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after tech sector largely deflates stock rally. 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 150 points to record high on strong earnings

Stocks traded higher on Wednesday on the back of stronger-than-expected quarterly earnings results. The Dow Jones industrial average rose 150 points at the open, hitting a record high. The S&P 500 also reached an all-time high, climbing 0.3 percent. The Nasdaq composite also 0.1 percent and hit a record.

The S&P 500 (SPY) fell 0.06% today as the tech sector largely deflates stock rally. S&P sector advancers tied decliners 5 to 5. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF), healthcare (XLV) and materials (XLB) all posted small gains of less than 1%. Energy (XLE), industrials (XLI), real estate (XLRE), technology (XLK) and utilities (XLU) all landed in the red today by less than 1%.

The Dow Jones index ended an up and down day by gaining 41 points closing at 26,252. The Nasdaq wasn’t so lucky in finishing positive, falling 45 points ending at 7,415.

Stocks traded in a wide range today as the Dow gained 182 points at session highs and then dropping 104 points at session lows. Tech stocks were led lower by Apple, falling in the red by more than 1% after an analyst predicted Apple would have weak iPhone sales growth this spring. Major averages (Dow, S&P and Nasdaq) are up at least 6% YTD. Strong earnings and a lower corporate tax rate have been catalysts for a strong market and economy.

AAPL -1.5%, FB -1.49% and INTC -1% were standouts to lead tech lower. Financials (XLF) had a strong day today, 9 out of its top 10 holdings finished in the green with 6 of them finishing with 1% or more gains.

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.

1/24/18

S&P 500 Sector Graph

Tech Sector Largely Deflates Stock Rally

S&P 500 (SPY)

Tech Sector Largely Deflates Stock Rally

Consumer Discretionary (XLY)

Tech Sector Largely Deflates Stock Rally

Consumer Staples (XLP)

Tech Sector Largely Deflates Stock Rally

Energy (XLE)

Tech Sector Largely Deflates Stock Rally

Financials (XLF)

Tech Sector Largely Deflates Stock Rally

Real Estate (XLRE)

Tech Sector Largely Deflates Stock Rally

Healthcare (XLV)

Tech Sector Largely Deflates Stock Rally

Industrials (XLI)

Tech Sector Largely Deflates Stock Rally

Materials (XLB)

Tech Sector Largely Deflates Stock Rally

Technology (XLK)

Tech Sector Largely Deflates Stock Rally

Utilities (XLU)

Tech Sector Largely Deflates Stock Rally

S&P 500 Sector Heat Map

Tech Sector Largely Deflates Stock Rally

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