Stocks Suppress Washington Noise
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Stocks Suppress Washington Noise. 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) barely inched higher today, finishing +0.03% after Stocks Suppress Washington Noise. S&P sector decliners led advancers by 6 to 4. Consumer discretionary (XLY), consumer staples (XLP), energy (XLE), healthcare (XLV), real estate (XLRE) and utilities (XLU) all closing negative less than 1%. Financials (XLF), industrials (XLI), materials (XLB) and technology (XLK) all finished positive less than 1%.
The Dow Jones industrial average hit an intraday record before ending the session just 10 points higher, Goldman Sachs contributing the most gains. (CNBC) “There were no major bombshells from Comey’s testimony,” said Lindsey Bell, investment strategist at CFRA, adding the market experienced a small “relief rally” that pushed the 30-stock index to a new high. (CNBC) The Nasdaq composite advanced 0.4 percent and managed intraday and closing record highs. (CNBC)
“Investors are not spooked by this at all,” said Eric Aanes, president and founder of Titus Wealth Management. “The only thing that could be an issue is [potential] delays into tax cuts.” (CNBC) Investors listened closely as they assess how damaging Comey’s remarks will be for President Donald Trump and whether he can implement his pro-growth agenda. “That’s really what the market cares about,” said Robert Pavlik, chief market strategist at Boston Private Wealth. (CNBC)
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