Warren Buffett Supports Current Stock Valuations
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Warren Buffett Supports Current Stock Valuations. 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:
The S&P 500 (SPY) raised 0.22% today after Warren Buffett Supports Current Stock Valuations. S&P sector advancers led decliners by 6 to 4. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF), industrials (XLI), materials (XLB) and technology (XLK) all were in the green today by less than 1%. Energy (XLE), healthcare (XLV), real estate (XLRE) and utilities (XLU) all slipped by less than 1%.
The Dow Jones index rose by 84 points finishing at 22,641. The Nasdaq gained 15 points closing at 6,531.
The main focal point from today’s session was Warren Buffett’s comments on current stock valuations. The Oracle of Omaha said equity valuations made sense given where interest rates are and have been a “powerful factor” in equity values.
Some bright spots and standouts from today’s action included the consumer discretionary favorite Netflix (NFLX) popping more than 1%. Materials stock Sherwin Williams (SHW) surged more than 4% as the company released strong sales and revenue outlook. Once again, the top 10 holdings of the XLF (financial ETF) keep inching up in a rising rate and inflationary environment.
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.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map