Trade Talks in October Spark Rally

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as trade talks in October spark 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 futures jump 200 points as China and US agree to meet for trade talks

U.S. futures jumped Wednesday evening on the back of news that the U.S. and China had agreed to meet in early October for another round of negotiations.

The S&P 500 (SPY) rose by +1.30% today. Sector advancers led decliners 8 to 3 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), energy (XLE), financials (XLF), industrials (XLI) and technology (XLK) led the market higher, each gaining more than 1%. Healthcare (XLV) and materials (XLB) each enjoyed minor gains of less than 1%. Utilities (XLU) led decliners down with a loss of more than 1%. Consumer staples (XLP) and real estate (XLRE) each suffered small losses of less than 1%.

The Dow Jones index popped higher by +372 points (+1.41%) to close at 26,728. The Nasdaq jumped +139 points (+1.75%) to settle at 8,116.

Trade Talks in October Spark Rally

All 3 major averages finished with sizable gains Thursday as the US and China agreed to return to the negotiating table in October for trade talks.

The two sides agreed to hold another round of trade negotiations in Washington, D.C., towards the beginning of next month, and consultations will be made in mid-September in preparation for the meeting, the statement said.

On the data front, private payrolls in the U.S. increased by 195,000, according to ADP and Moody’s Analytics. Economists polled by Dow Jones expected payrolls to grow by 140,000. The report from ADP and Moody’s Analytics is seen by investors as a preview to the U.S. government’s monthly nonfarm payrolls report, which is scheduled for release Friday morning.

Key Takeaways…

I took the following CNBC screenshots today regarding from record highs and driving the action:

Notable S&P 500 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.

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S&P 500 Sector Graph

Trade Talks in October Spark Rally

S&P 500 (SPY)

Trade Talks in October Spark Rally

Communication Services (XLC)

Trade Talks in October Spark Rally

Consumer Discretionary (XLY)

Trade Talks in October Spark Rally

Consumer Staples (XLP)

Trade Talks in October Spark Rally

Energy (XLE)

Trade Talks in October Spark Rally

Financials (XLF)

Trade Talks in October Spark Rally

Real Estate (XLRE)

Trade Talks in October Spark Rally

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map


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