Vaccine Optimism Boost Investor Sentiment

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as vaccine optimism boost investor sentiment. 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 tick higher after Fed’s Powell says economy could ‘recover steadily’ later this year

Futures contracts tied to the major U.S. stock indexes inched higherat the start of the overnight session Sunday evening as investors awaited comments on the state of the American economy from Federal Reserve Chairman Jerome Powell. Dow Jones Industrial Average futures rose 50 points, implying an opening loss of about 40 points.

The S&P 500 (SPY) rose +3.15% today. All 11 sectors landed in the green as shown below in the sector graph. Gains ranged from +8.17% to less than 1%, check the sector graph for specifics.

The Dow Jones index jumped +911 points (+3.85%) to close at 24,597. The Nasdaq climbed +220 points (+2.44%) to settle at 9,234.

Vaccine Optimism Boost Investor Sentiment

Stocks rallied Monday as a Moderna vaccine trial spurred hope across Wall Street.

Moderna shares rallied 20% after the company reported “positive” phase one results for a potential coronavirus vaccine. The company said that after two doses all 45 trial participants had developed coronavirus antibodies.

Comments from the Federal Reserve chief also added to the bullish sentiment.

Federal Reserve Chairman Jerome Powell said to CBS’ “60 Minutes” that “there’s a lot more we can do” to help the economy. “We’ve done what we can as we go. But I will say that we’re not out of ammunition by a long shot. No, there’s really no limit to what we can do with these lending programs that we have.”

The central bank leader also said he’s “highly confident” the U.S. economy will claw its way back from the current pullback, but warned that it may not fully recover until a Covid-19 vaccine is complete.

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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5/18/20

S&P 500 Sector Graph

Vaccine Optimism Boost Investor Sentiment

S&P 500 (SPY)

Vaccine Optimism Boost Investor Sentiment

Communication Services (XLC)

Vaccine Optimism Boost Investor Sentiment

Consumer Discretionary (XLY)

Vaccine Optimism Boost Investor Sentiment

Consumer Staples (XLP)

Vaccine Optimism Boost Investor Sentiment

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

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Energy (XLE)

Vaccine Optimism Boost Investor Sentiment

Financials (XLF)

Vaccine Optimism Boost Investor Sentiment

Real Estate (XLRE)

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

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Technology (XLK)

Vaccine Optimism Boost Investor Sentiment

Utilities (XLU)

S&P 500 Sector Heat Map

 

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