Wall Street Applauds White House Stimulus

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Wall Street applauds White House stimulus. 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 rise 100 points after Wall Street suffers worst day since 1987 market crash

Stock futures traded higheron Monday night after Wall Street suffered massive losses earlier in the day amid concerns over the economic blow from the coronavirus outbreak. Dow Jones Industrial Average futures rose by 135 points, or about 0.6%. S&P 500 and Nasdaq 100 futures were also higher.

The S&P 500 (SPY) jumped +6% today. All 11 sectors finished in the green as shown below ij the sector graph. Utilities (XLU) led all sectors higher with a +12.79% gain. Consumer staples (XLP) had a 8% gain. Healthcare (XLV), materials (XLB), real estate (XLRE) and technology (XLK) each had 6% gains. Financials (XLF) had a 5% gain. Communication services (XLC) and industrials (XLI) each had 4% gains. Consumer discretionary (XLY) had a 3% gain. Energy (XLE) had a minor gain of less than 1%.

The Dow Jones index rocketed +1,048 points (+5.20%) to close at 21,237. The Nasdaq added +430 points (+6.23%) to settle at 7,334.

Wall Street Applauds White House Stimulus

Stocks climbed higher Tuesday as Wall Street applauded the White House stimulus plan that could inject $1trillion into the US economy to fight the coronavirus outbreak.

The Trump administration is weighing a fiscal stimulus package of more than $1 trillion that includes direct payments to Americans, according to a source familiar with the matter. Earlier, Treasury Secretary Steven Mnuchin told reporters the government is considering directly sending checks to Americans in the next two weeks. “Americans need cash now,” he said.

Mnuchin added corporations will be able to defer tax payments of up to $10 million while individuals could defer up to $1 million in payments to the Internal Revenue Service. Mnuchin also said President Donald Trump authorized the deferral of $300 billion in IRS payments.

Treasury yields jumped, with the 10-year U.S. rate breaking back above 1% on news of the big stimulus plan. Yields move inversely to prices. The iShares 20+Year Treasury Bond ETF (TLT) dropped more than 6% as investors fled bonds for stocks.

Key Takeaways…

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P 500 (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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3/17/20

S&P 500 Sector Graph

Wall Street Applauds White House Stimulus

S&P 500 (SPY)

Wall Street Applauds White House Stimulus

Communication Services (XLC)

Wall Street Applauds White House Stimulus

Consumer Discretionary (XLY)

Wall Street Applauds White House Stimulus

Consumer Staples (XLP)

Wall Street Applauds White House Stimulus

Energy (XLE)

Wall Street Applauds White House Stimulus

Financials (XLF)

Wall Street Applauds White House Stimulus

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.

Real Estate (XLRE)

Wall Street Applauds White House Stimulus

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

 

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