Why Buy Market Dips Mentality Remains

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as why buy market dips mentality remains. 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:

US futures fluctuate ahead of the open, but trade uncertainty weighs

U.S. stock index futures wavered ahead of Thursday’s open, as investors turned their attention to fresh economic data. Around 5:40 a.m. ET, Dow futures slipped 4 points, indicating a positive open of 22.41 points. The Nasdaq and the S&P 500 futures indicated a flat to upbeat start to their respective trading session.

The S&P 500 (SPY) rose +0.62% today. Sector advancers led decliners 10 to 2 as shown below in the sector graph. Technology (XLK) +1.22% & communication services (XLC) led advancers. Consumer discretionary (XLY), consumer staples (XLP), financials (XLF), healthcare (XLV), industrials (XLI), materials (XLB) and real estate (XLRE) each had minor gains of less than 1%. Energy (XLE) and utilities (XLU) each had small losses of less than 1%.

The Dow Jones index enjoyed a positive return of +98 points (+0.41%) to close at 24,216. The Nasdaq was lifted by the tech rebound, adding +58 points (+0.79%) to settle at 7,503.

Why Buy Market Dips Mentality Remains

Gains from the tech and financial sectors helped lift stocks Thursday. Financials (XLF) snapped a 13 day losing streak Financials (XLF) gained just below 1% today. Nasdaq was led higher by a 2+% gain in Amazon (AMZN) as the online retailer is buying an online pharmacy.  The title, “Why Buy Market Dips Mentality Remains” came to mind today because if you look at the tech sector (XLK) it had a loss of -1.36% yesterday yet had a nice rebound of +1.22% today. Yesterday gave you an opportunity to buy.

Key takeaway…

While browsing CNBC.com, I ran across this informative article that closely examines the second half of the year:

Stocks cling to gains for the year into a second half that could get much worse

Drew Angerer | Getty Images Confused yet? Stocks have been a mess this week. The S&P 500 is up only 1.6 percent so far this year, its worst first half showing since 2015. Sectors that were market leaders through most of the quarter – small caps, FAANG stocks, semiconductors – have weakened as the quarter is closing.

Notable S&P movers…

Below I’ve highlighted the 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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6/28/18

S&P 500 Sector Graph

Why Buy Market Dips Mentality Remains

S&P 500 (SPY)

Why Buy Market Dips Mentality Remains

Communication Services (XLC)

Why Buy Market Dips Mentality Remains

Consumer Discretionary (XLY)

Why Buy Market Dips Mentality Remains

Consumer Staples (XLP)

Why Buy Market Dips Mentality Remains

Energy (XLE)

Why Buy Market Dips Mentality Remains

Financials (XLF)

Why Buy Market Dips Mentality Remains

Real Estate (XLRE)

Why Buy Market Dips Mentality Remains

Healthcare (XLV)

Why Buy Market Dips Mentality Remains

Industrials (XLI)

Why Buy Market Dips Mentality Remains

Materials (XLB)

Why Buy Market Dips Mentality Remains

Technology (XLK)

Why Buy Market Dips Mentality Remains

Utilities (XLU)

Why Buy Market Dips Mentality Remains

S&P 500 Sector Heat Map

Why Buy Market Dips Mentality Remains

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