US Economy Reopening Pushes Stocks Positive

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as US economy reopening pushes stocks positive. 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 slightly in overnight trading as investors focus on reopening of economy

Stock futures rose slightly in overnight trading on Monday as investors remained focused on the reopening of the U.S. economy after the worst of the coronavirus pandemic appears to be over. Futures on the Dow Jones Industrial Average climbed about 50 points. The S&P 500 and Nasdaq futures both rose about 0.1%.

The S&P 500 (SPY) rose +0.90% today. Sector advancers led decliners 10 to 1 as shown below in the sector graph. Gains ranged from +2.17% to less than 1%. Financials (XLF) lost less than 1%.

The Dow Jones index added +133 points (+0.56%) to close at 23,883. The Nasdaq advanced +98 points (+1.13%) to settle at 8,809.

US Economy Reopening Pushes Stocks Positive

Stocks ended in the green Tuesday as investors see hope in the economy reopening soon.

Investors weighed fears of a second wave of coronavirus cases against efforts to reopen businesses and loosen restrictions. California Gov. Gavin Newsom said Monday some of the state’s retailers will be allowed to offer curb-side pickup starting Friday.

“Markets are increasingly looking toward this reopening and the gradual relaxation to some of the rules the lead people start economic activity again,” said Eric Winograd, senior economist for fixed income at AllianceBernstein.  But “the recovery is going to be much more gradual, because it is going to be different paces in different places.”

Tuesday’s rally followed modest gains on on Monday. Strength in the biggest U.S. technology companies including Microsoft, Apple, Amazon, and Netflix lifted the broad market out of negative territory.

Key Takeaways…

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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5/5/20

S&P 500 Sector Graph

US Economy Reopening Pushes Stocks Positive

S&P 500 (SPY)

US Economy Reopening Pushes Stocks Positive

Communication Services (XLC)

US Economy Reopening Pushes Stocks Positive

Consumer Discretionary (XLY)

US Economy Reopening Pushes Stocks Positive

Consumer Staples (XLP)

US Economy Reopening Pushes Stocks Positive

Energy (XLE)

US Economy Reopening Pushes Stocks Positive

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

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Financials (XLF)

US Economy Reopening Pushes Stocks Positive

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

US Economy Reopening Pushes Stocks Positive

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Utilities (XLU)

S&P 500 Sector Heat Map

 

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