US Consumer Spending Remains Strong

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as US consumer spending remains strong. 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 fall 60 points at open as sell-off triggered by bond recession signal drags on

Stocks are set for another down day after the Dow Jones Industrial Average suffered its worst day of the year amid a recession signal from the bond market. Dow futures opened down about 70 points Wednesday evening, while futures on the S&P 500 and the Nasdaq Composite are also lower.

The S&P 500 (SPY) rose +0.25% today. Sector advancers led decliners 7 to 4 as shown below in the sector graph. Consumer staples (XLP), real estate (XLRE) and utilities (XLU) led advancers higher with gains of more than 1%. Communication services (XLF), financials (XLF), healthcare (XLV) and materials (XLB) each had small gains of less than 1%. Consumer discretionary (XLY), energy (XLE), industrials (XLI) and technology (XLK) suffered minor losses of less than 1%.

The Dow Jones index added +99 points (+0.39%) to close at 25,579. The Nasdaq gave back 7 points (-0.09%) to settle at 7,766.

US Consumer Spending Remains Strong

Stocks gained on Thursday as consumer spending remains strong given Walmart earnings and retail sales numbers. 

Retail sales rose solidly in July and beat expectations, the Commerce Department said Thursday. Consumers spent more at stores and restaurants last month, a sign that fears of a global slowdown that have roiled financial markets haven’t soured consumer optimism.

Key Takeaways…

I took the following CNBC screenshots today regarding mixed messages:

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

US Consumer Spending Remains Strong

S&P 500 (SPY)

US Consumer Spending Remains Strong

Communication Services (XLC)

US Consumer Spending Remains Strong

Consumer Discretionary (XLY)

US Consumer Spending Remains Strong

Consumer Staples (XLP)

US Consumer Spending Remains Strong

Energy (XLE)

US Consumer Spending Remains Strong

Financials (XLF)

US Consumer Spending Remains Strong

Real Estate (XLRE)

US Consumer Spending Remains Strong

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map


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