Uncertainties Abound Spark Cash Raising Efforts

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as uncertainties abound spark cash raising efforts. 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:

Stock futures rise after S&P 500 breaks 4-day losing streak

U.S. stock futures rose in overnight trading and pointed to gains at the open on Wednesday as markets attempt to build on their previous session’s strength. Dow futures rose 80 points. S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.06%, respectively.

The S&P 500 (SPY) lost -2.37% today. All 11 sectors finished deep in the red as shown below in the sector graph. Losses ranged from -4.52% to -1.03%

The Dow Jones index dropped -525 points (-1.92%) to close at 26,763. The Nasdaq declined -330 points (-3.02%) to settle at 10,632.

Uncertainties Abound Spark Cash Raising Efforts

Stocks ended lower Wednesday as a number of uncertainties led investors to hit the sell button.

Shares of Amazon and Netflix dropped 4.1% and 4.2%, respectively, to lead Big Tech lower. Facebook slid 2.3%. Alphabet closed 3.5% lower. Apple ended the day down 4.2% and Microsoft dipped 3.3%.

The S&P 500 and Dow are down 7.5% and 5.9%, respectively, for the month. The Nasdaq has dropped 9.7% over that time period. Shares of Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft are all down at least 11% in September.

Investors have faced a slew of headwinds this month, including a rising number of global coronavirus cases and uncertainty around new U.S. fiscal stimulus.

On the stimulus front, lawmakers are still struggling to move forward with a new package. Federal Reserve Chairman Jerome Powell said before Congress on Wednesday that further fiscal stimulus is still needed for the U.S. economic recovery to continue.

“We’ve come a long way pretty quickly, and that’s great. But there’s a long way to go. So I just would say we need to stay with it, all of us. The recovery will go faster if there’s support coming both from Congress and from the Fed,” Powell said

Nike shares jumped 8.8% after the company said digital sales surged more than 80% last quarter. Earnings and sales blew past analysts expectations last quarter and the company gave a forecast for growth in the new fiscal year.

Key Takeaways…

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 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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9/23/20

S&P 500 Sector Graph

Uncertainties Abound Spark Cash Raising Efforts

S&P 500 (SPY)

Uncertainties Abound Spark Cash Raising Efforts

Communication Services (XLC)

Uncertainties Abound Spark Cash Raising Efforts

Consumer Discretionary (XLY)

Uncertainties Abound Spark Cash Raising Efforts

Episode 1: Basic Investment Strategy – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 1: Basic Investment Strategy Episode 1 goes over my basic investment strategy for individual investors (from years of watching and learning from CNBC).

Consumer Staples (XLP)

Uncertainties Abound Spark Cash Raising Efforts

Energy (XLE)

Uncertainties Abound Spark Cash Raising Efforts

Financials (XLF)

Uncertainties Abound Spark Cash Raising Efforts

Real Estate (XLRE)

Episode 2: Building a Diversified Portfolio – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 2: Building a Diversified Portfolio In this episode, I go over 5 stocks to build a diversified portfolio on. These are 5 stocks to hold for the long term in a retirement account such as a Roth or traditional IRA account.

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Episode 3: 6 Investing Rules for Individual Investors – Simply Stock Info: The Podcast

Simply Stock Info: The Podcast Episode 3: 6 Investing Rules for Individual Investors In this episode I discuss 6 investing rules for the individual investor that is in charge of their own retirement account.

Technology (XLK)

Uncertainties Abound Spark Cash Raising Efforts

Utilities (XLU)

S&P 500 Sector Heat Map

 

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