US Manufacturing Data Shrinks For First Time

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as US manufacturing data shrinks for first time. 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 more than 200 points after new US-China trade tariffs take effect

U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods. At around 03:20 a.m. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. Futures on the S&P and Nasdaq were both lower.

The S&P 500 (SPY) lost -0.69% today. Sector decliners led advancers 8 to 3 as shown below in the sector graph. Financials (XLF), industrials (XLI) and technology (XLK) led the market lower, each losing more than 1%. Communication services (XLC), consumer discretionary (XLY), energy (XLE), healthcare (XLV) and materials (XLB) each suffered minor losses of less than 1%. Utilities (XLU) and real estate (XLRE) enjoyed gains of more than 1%. Consumer staples (XLP) had a small gain of less than 1%.

The Dow Jones index dropped -285 points (-1.08%) to close at 26,118. The Nasdaq gave back -88 points (-1.11%) to settle at 7,874.

US Manufacturing Data Shrinks For First Time

Stocks ended in negative territory on Tuesday as US manufacturing data shrunk for the first time in years as the US China trade war hit the economy.

The Institute for Supply Management said U.S. manufacturing activity contracted last month for the first time since early 2016. The Dow lost as much as 1.6%, or 425.06 points. The S&P 500 and Nasdaq briefly dropped 1.2% and 1.5%, respectively.

The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from Sept. 1. It marked the latest escalation in their long-running trade war.

The 30-year Treasury bond yield traded at 1.95% after hitting an all-time low last week. The 10-year note yield fell to 1.47%. Bank stocks fell on the declining rates. Bank of America slid 1.7% while J.P. Morgan Chase fell 1.2%. Citigroup dropped 1.5%.

Key Takeaways…

I took the following CNBC screenshots today regarding index performance YTD, summertime performance, August laggards 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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9/3/19

S&P 500 Sector Graph

US Manufacturing Data Shrinks For First Time

S&P 500 (SPY)

US Manufacturing Data Shrinks For First Time

Communication Services (XLC)

US Manufacturing Data Shrinks For First Time

Consumer Discretionary (XLY)

US Manufacturing Data Shrinks For First Time

Consumer Staples (XLP)

US Manufacturing Data Shrinks For First Time

Energy (XLE)

US Manufacturing Data Shrinks For First Time

Financials (XLF)

US Manufacturing Data Shrinks For First Time

Real Estate (XLRE)

US Manufacturing Data Shrinks For First Time

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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