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SWS Daily Market Update - Aug 4, 2021



Overview

The SPX and DOW dropped sharply today, apparently triggered by a statement from the Vice-Chair of the Fed that interest rates could rise by 2023. He also said that the Fed may start to taper asset purchase later this year. Technology stocks allowed the Nasdaq to rise 0.1%. The conflicting messages from strong corporate earnings, uncertainty about inflation and interest rates, and continued spread of COVID seem likely to make the market volatility seen over the past few weeks continue until these issues are resolved.


ADP reported that only 330,000 private sector jobs were added in July, much lower than the forecast 653,000. June saw the creation of 680,000 jobs. However, the Institute Supply Management (ISM)report on services showed a record high value in July of 64.1, up from 60.1 in June. The forecast was 60.5%. There were 19.6 million jobs lost last March and April and 13.6 have been added back to the economy.


Markets

The SP 500 is down by 0.46% to close at 4402.66. The index is up 0.05% over five days, up 1.02% over one month, up 5.64% over three months and up 32.30% over one year.

The trailing P/E is 33.75 compared with 30.59 one year ago and estimated future P/E 22.52. Dividend yield is currently 1.31 compared with 1.90 one year ago.

Leading stocks were PAYC up 10.70%, DVA up 8.63%, MRNA up 8.42%, UA up 6.71% and ETSY up 6.11%.

Trailing stocks were GM down 8.91%, LUMN down 8.86%, UNM down 8.84%, GPS down 8.01% and FMC down 7.63%.


The Dow Jones industrial Average is down by 0.92% to close at 34792.67. The DOW is down 0.40% over five days, up 0.32% over one month, up 1.64% over three months and up 27.91% over one year.

The trailing P/E is 23.51 compared with 25.37 year ago and an estimated future P/E of 19.45. The current dividend yield is 1.80% compared with 2.45 one year ago.

Leading stocks were CRM up 1.26%, NKE up 0.40%, UNH down 0.09%, V down 0.18% and MSFT down 0.21%.

Trailing stocks were AMGN down 6.46%, CVX down 2.24%, WBA down 2.00%, DOW down 1.99%, and CAT down 1.91%.


The NASDAQ composite is up by 0.13% and closed at 14780.53. NASDAQ is up 0.12% over five days, up 0.79% over one month, up 8.82% over 3 months and up 34.39% over one year.

Leading stocks were BYSI up 176.01%, HOOD up 50.41%, EXPI up 35.95%, BTBT up 30.70% and SCPS up 29.70%.

Trailing stocks were ZY down 76.13%, LIVE down 46.47%, CXDC down 38.72%, MOXC down 35.64%, and CDLX down 27.61%.


The MidCap SP400 is down by 1.02% to close at 261.31. The SP400 is up 0.06% for the past 5 days, down 0.06% for the past month, down 1.66% for the past 3 months and up 39.61% over the past year.

Leading stocks were UTHR up 14.08%, BDC up 9.48% and JLL up 9.48%.

Trailing stocks were CAR down 16.56%, MRCY down 12.05% and JAZZ down 10.47%


The SmallCap SP600 is up by 0.77% to close at 1345.17. The SP600 is up 2.01% for the past 5 days, down 0.34% for the past month, down 0.68% for the past 3 months and up 52.66% over the past year.

Leading stocks were MGPI up 11.32%, FLGT up 10.00% and GEO up 9.46%.

Trailing stocks were TISI down 24.05%, CPE down 16.88% and DNOW down 16.02%.


The CBOE VIX dropped by 0.39% and closed at 17.97. The VIX is down 1.86% over five days, up 10.93% over one month, down 6.16% over three months and down 21.84% over one year.


On the New York stock exchange 1087 stocks advanced and 2207 declined, while on Nasdaq 1544 advanced and 2827 declined.

There were 164 new 52 week highs and 41 new 52 week lows on NYSE with 134 new highs and 116 new lows on NASDAQ.


The 2 year Treasury note yield is 0.188% and 10 year is 1.199%. The 10 year yield is down 5.83% over five days, down 7.71% over one month, down 23.60% three months ago, and up 121.69% one year ago.


SP500 Sector Performance % change

Communication Services +0.24

Information Technology +0.19

Utilities -0.14

Real Estate -0.35

Health Care -0.42

Financials -0.76

Consumer Discretionary -0.84

Materials -0.99

Consumer Staples -1.26

Industrials -1.37

Energy -2.93


Communication Services has been down 1.49% over five days, up 1.60% over one month, up 7.66% over three months and up 41.58% over one year.

Energy has been down 2.68% over five days, down 6.94% over one month, down 7.38% over three months and up 29.60% over one year.

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