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SWS Daily Market Update - August 12, 2021


Overview

Small gains for all the major indices today, apparently stimulated by the employment data released this morning. The weekly initial jobless claims were 375,000, in line with expectations, and slightly down from 385,000 last week. The four week moving average is 396,000. For perspective, the peak level was about 6.15 million in April last year when the pandemic began but the level before the pandemic was generally around 250,000. Weekly unemployment figures are used as a proxy for layoffs. Continuing claims, which reflect people receiving state benefits, was 2.9 million, down from 2.93 million, and the lowest since the pandemic started. Benefits from all programs decreased by 900,000 to 12.1 million. This is about 50% of the number one year ago but above the 2 million level prior to the pandemic.


The producer price index rose in July by 1.0% in July, above the estimate of 0.6% and the same as the June value of 1.0%. However, on an annual basis, the PPI is up 7.8%, the highest value since measurement started in 2010.


Home prices increased by a record 23% in the second quarter to a median $357,900 for an existing single family home. The price rise is driven by low interest rates and an inventory shortage, as total sales of previously earned homes fell for a fourth consecutive month.

The 10 year Treasury note climbed to its highest value in one month at 1.366%. ​


Markets

The SP 500 is up by 0.30% to close at 4460.83. The index is up 0.72% over five days, up 2.31% over one month, up 8.47% over three months and up 32.23% over one year.

The trailing P/E is 31.24 and estimated future P/E 22.37. Dividend yield is currently 1.33.

Leading stocks were OGN up 11.93%, COO up 7.82%, IT up 2.92%, CRM up 2.52% and J up 2.50%.

Trailing stocks were WDC down 6.50%, MU down 6.37%, AMAT down 4.15%, KLAC down 4.13% and LRCX down 4.11%.


The Dow Jones industrial Average is up by 0.04% to close at 35499.85. The DOW is up 1.24% over five days, up 1.47% over one month, up 4.35% over three months and up 27.25% over one year.

The trailing P/E is 24.20 compared with 28.23 year ago and an estimated future P/E of 19.35. The current dividend yield is 1.77% compared with 2.27 one year ago.

Leading stocks were CRM up 2.52%, AAPL up 2.08%, MRK up 1.10%, MSFT up 1.00% and CSCO up 0.95%.

Trailing stocks were AXP down 1.26%, V down 1.26%, INTL down 1.11%, HD down 0.88%, and WBA down 0.80%.


The NASDAQ composite is up by 0.35% and closed at 14816.26. NASDAQ is down 0.53% over five days, up 1.88% over one month, up 12.89% over 3 months and up 34.17% over one year.

Leading stocks were PBTS up 65.35%, IEC up 46.69%, XONE up 45.14%, KNBE up 25.92% and NAOV up 25.11%.

Trailing stocks were MDVL down 52.60%, LFST down 46.46%, GOCO down 42.80%, TIG down 35.52%, and VYNE down 31.14%.


The MidCap SP400 is down by 0.16% to close at 2737.48. The SP400 is up 1.16% for the past 5 days, up 3.36% for the past month, up 2.28% for the past 3 months and up 40.20% over the past year.

Leading stocks were EBS up 3.71%, THC up 3.67% and QLYS up 3.67%.

Trailing stocks were AZPN down 11.79%, OLLI down 8.13% and ENS down 5.21%


The SmallCap SP600 is down by 0.71% to close at 1366.76. The SP600 is up 1.42% for the past 5 days, up 3.28% for the past month, up 2.55% for the past 3 months and up 48.15% over the past year.

Leading stocks were FOSL up 9.22%, RCII up 7.15% and ENDP up 6.70%.

Trailing stocks were SLQT down 19.73%, COHU down 10.11% and EHTH down 7.19%.


The CBOE VIX is down by 2.93% and closed at 15.59. The VIX is down 9.78% over five days, down 8.35% over one month, down 32.60% over three months and down 29.55% over one year.


On the New York stock exchange 1511 stocks advanced and 1764 declined, while on Nasdaq 1849 advanced and 2483 declined.

There were 180 new 52 week highs and 34 new 52 week lows on NYSE with 145 new highs and 117 new lows on NASDAQ.


The 2 year Treasury note yield is 0.229% and 10 year is 1.352%. The 10 year yield is up 4.9% over five days, up 5.8% over one month, down 27.4% three months ago, and up 64.3% one year ago.


SP500 Sector Performance % change

Health Care +0.77

Information Technology +0.59

Real Estate +0.35

Communication Services +0.35

Financials +0.13

Consumer Discretionary +0.10

Utilities 0.00

Consumer Staples -0.08

Materials -0.19

Energy -0.49

Health Care has been down 0.18% over five days, up 3.49% over one month, up 8.16% over three months and up 24.23% over one year.

Energy has been up 1.41% over five days, down 0.82% over one month, down 3.35% over three months and up 32.24% over one year.


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