Wild Ride on Wall Street

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as this week’s action provides a wild ride on Wall Street. 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:

Wall Street set to continue wild week as Dow futures point to more than 200 point opening drop

Futures on Thursday evening pointed to further declines for Wall Street on Friday as stocks stateside head toward the end of a turbulent trading week. As of 10:39 p.m. ET Thursday, Dow Jones Industrial Average futures fell 189 points, pointing to an implied drop of 225.28 points at Friday’s open.

 

The S&P 500 (SPY) dropped -1.71% today. All 11 sectors landed in the red. Energy (XLE) led the market down with losses of more than -5%. Financials (XLF) had a loss of -3%. Materials (XLB) and technology (XLK) suffered -2% losses. Communication services (XLC), consumer discretionary (XLY) and real estate (XLRE) each had -1% losses. Consumer staples (XLP), healthcare (XLV), industrials (XLI) and utilities (XLU) each had minor losses of less than 1%.

The Dow Jones index fell -256 points (-0.98%) to close at 25,864. The Nasdaq gave back -162 points (1.87%)to settle at 8,575.

Wild Ride on Wall Street

All 3 major averages closed in negative territory Friday as Wall Street endured a wild week.

Dow, S&P and Nasdaq eked out small weekly gains after a wild week that saw the Dow swing 1,000 points or higher twice. The Dow was up 1.7% on the week, while the S&P 500 and the Nasdaq gained 0.6% and 0.1%, respectively. The benchmarks are still in correction territory, however, down at least 10% from their recent peaks.

Friday’s declines came as the benchmark 10-year Treasury yield tumbled below 0.7% for the first time ever. Investors continued to seek safer assets amid fears that the coronavirus will disrupt global supply chains and tip the economy into a recession. Another haven asset, gold, had its best week since 2016.

The market remained under pressure even after a blowout jobs report. The U.S. economy added 273,000 jobs in February, beating expectations of 175,000 new payrolls. The unemployment rate also fell back to 3.5%, matching its lowest level in more than 50 years.

Energy was the worst-performing sector, down 5.6%, as oil prices plunged more than 10% to multi-year lows after OPEC’s allies rejected additional production cuts.

Key Takeaways…

Notable S&P 500 Movers…

I’ve highlighted below 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.

Download our new Handy ETF Guide

Subscribe to get our free weekly newsletter by email.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

3/6/20

S&P 500 Sector Graph

Wild Ride on Wall Street

S&P 500 (SPY)

Wild Ride on Wall Street

Communication Services (XLC)

Wild Ride on Wall Street

Consumer Discretionary (XLY)

Wild Ride on Wall Street

Consumer Staples (XLP)

Wild Ride on Wall Street

Energy (XLE)

Wild Ride on Wall Street

Financials (XLF)

Wild Ride on Wall Street

Real Estate (XLRE)

Wild Ride on Wall Street

Healthcare (XLV)

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Utilities (XLU)

S&P 500 Sector Heat Map

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.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *