Technology Rebounds Following Huawei Easing

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as technology rebounds following Huawei easing. 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 futures slightly higher after US eases trade restrictions on Huawei

U.S. stock index futures were slightly higher Tuesday morning, as market participants continue to monitor trade developments between the world’s two largest economies. At around 03:00 a.m. ET, Dow futures rose 89 points, indicating a positive open of more than 109 points. Futures on the S&P and Nasdaq were both seen slightly higher.

The S&P 500 (SPY) added +0.85% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Technology (XLK), materials (XLB), industrials (XLI), financials (XLF), energy (XLE) and communication services (XLC) reach had gains of over 1%. Consumer discretionary (XLY), healthcare (XLV), real estate (XLRE) and utilities (XLU) each had minor gains of less than 1%. Consumer staples (XLP) slipped -0.21%.

The Dow Jones index jumped +197 points (+0.77%) to close at 25,877. The Nasdaq advanced +83 points (+1.08%) to settle at 7,785.

Technology Rebounds Following Huawei Easing

The tech sector rebounded on Tuesday from losses on Monday as the US reverses course and eases Huawei restrictions. The Commerce Department announced on Monday night it will allow Huawei to purchase American made goods in order to maintain existing networks and provide software updates thru August 19th. Micron, Xilinx, Qualcomm, Nvidia and Lam Research each rallied as much as 4.6%.

Key Takeaway…

I took the following CNBC screenshot this morning regarding China trade deal:

Technology Rebounds Following Huawei Easing

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. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

Download our new Handy ETF Guide

Subscribe to get our free weekly newsletter by email.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

5/21/19

S&P 500 Sector Graph

Technology Rebounds Following Huawei Easing

S&P 500 (SPY)

Technology Rebounds Following Huawei Easing

Communication Services (XLC)

Technology Rebounds Following Huawei Easing

Consumer Discretionary (XLY)

Technology Rebounds Following Huawei Easing

Consumer Staples (XLP)

Technology Rebounds Following Huawei Easing

Energy (XLE)

Technology Rebounds Following Huawei Easing

Financials (XLF)

Technology Rebounds Following Huawei Easing

Real Estate (XLRE)

Technology Rebounds Following Huawei Easing

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

Leave a Reply

Your email address will not be published. Required fields are marked *