Keep an Eye on Healthcare, Industrial, and Financial Sectors

September 25, 2020 08:10 AM
U.S. benchmarks are again on their backfoot
A watered-down fiscal stimulus bill
Financials are working to recover losses
Stock Market Update for Traders

Stock Market Update for Traders

Thursday's Close

E-mini S&P 500 Futures (December): Settled at 3238, up 6.75

E-mini Nasdaq-100 Futures (December): Settled at 10,891, up 62.75

U.S. benchmarks are again on their backfoot. This time as the U.K. and Spain expand restrictions and lockdowns due to the spread of Covid-19. In fact, the Spanish Health Minister is recommending a total lockdown of Madrid.

Domestically, the House of Representatives is trying to gather support behind a watered-down fiscal stimulus bill, calling for $2.4 billion in spending. They could vote on it on next week. Although the White House is eager to support the economy ahead of the election, the move may fall on deaf ears in the Senate.

The S&P 500 index set new lows on the open yesterday. All major sectors finished in the green except for healthcare. Industrials overall struggled with Boeing, Raytheon, and Lockheed Martin facing heavy losses, but nudged out an industry positive. The Nasdaq-100 didn’t set a new low yesterday morning and tech could propel a strong finish for the week. Yesterday, Apple, Microsoft, Alphabet, Amazon, and chipmakers all achieved healthy sessions. Financials are working to recover losses from earlier in the week. Traders should keep a pulse on healthcare, industrials, and financials, given that tech seems eager to move higher, if these sectors can hold ground early it could pave the way for a strong finish.

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