US Payrolls Show Record Job Losses

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as US payrolls show record job losses. 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 falls for the first time in 3 days, drops more than 200 points

The Dow Jones Industrial Average and S&P 500 fell for the first time in three days on Wednesday as investors weighed the prospects of reopening the economy along with a dismal report on U.S. payrolls. The 30-stock Dow was down 200 points, or 0.8%, reaching its session low with less than one hour left of trading.

The S&P 500 (SPY) dropped -0.70% today. Sector decliners led advancers 10 to 1 as shown below in the sector graph. Losses ranged from -3.40% to less than 1%, check the sector graph for specifics. Technology (XLK) squeezed out a minor gain of less than 1%.

The Dow Jones index slipped -218 points (-0.91%) to close at 23,664. The Nasdaq advanced +45 points (+0.51%) to settle at 8,854.

US Payrolls Show Record Job Losses

Stocks finished mixed Wednesday as ADP payrolls show record job losses.

Recent economic data continues to show the economic damage being dealt by the virus and the shutdown of the economy. A report from ADP and Moody’s Analytics showed private payrolls were cut by 20.2 million last month. That was the worst report in the data series’ history. Still, it was not as bad as a Dow Jones estimate of 22 million job losses.

the Nasdaq Composite rose 0.7% to 8,854.39 as big tech stocks built on their recent gains.

“You’re seeing growth quickly reassert itself as leadership,” said Keith Lerner, chief market strategist at Truist/SunTrust Advisory, noting a comeback in value stocks “seemingly came and went in less than a week.” Lerner added the market has been “transitioning more into a trading range” after the wild moves seen earlier in the year.

The fast-spreading coronavirus — which has inflected at least 1.2 million Americans and killed more than 70,000, according to Johns Hopkins University — has seen a leveling off of news cases in the U.S.

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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5/6/20

S&P 500 Sector Graph

US Payrolls Show Record Job Losses

S&P 500 (SPY)

US Payrolls Show Record Job Losses

Communication Services (XLC)

US Payrolls Show Record Job Losses

Consumer Discretionary (XLY)

US Payrolls Show Record Job Losses

Consumer Staples (XLP)

US Payrolls Show Record Job Losses

Energy (XLE)

US Payrolls Show Record Job Losses

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).

Financials (XLF)

US Payrolls Show Record Job Losses

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

US Payrolls Show Record Job Losses

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.

Utilities (XLU)

S&P 500 Sector Heat Map

 

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