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SWS Daily Market Update - August 20, 2021


Stocks ended a choppy week with some gains on Friday but ended the week with all three major indices down. The partial recovery on Friday seems to be another example of buying on the dip, given the lack of attractive alternative investments. Economically sensitive industries such as finance, materials and energy saw significant losses.


Three main negative issues dampened the enthusiasm of investors. The first is the surging COVID infections in the US and globally that are starting to reach levels seen six months ago and threaten to overwhelm the health care system. As there has been no accompanying surge in vaccinations for individuals who are unvaccinated to date, there is no end in sight to this growth in infections. There is worry that infections will spread even faster when school starts and largely unvaccinated children gather indoors. A recurrence of pandemic conditions could result in restrictions and lockdowns and these could affect the domestic economy. The second is the feat that slowing economic growth in China will spread to affect economies around the world. Finally, there were signs that the Fed will be starting to reduce their support measures sooner rather than later, beginning with a reduction in asset purchases. This could damage the economy, especially when combined with the effects of COVID infections.


Markets

The SP 500 is up by 0.81% to close at 4441.67. The index is down 0.59% over five days, up 0.68% over one month, up 6.88% over three months and up 30.75% over one year.

The trailing P/E is 31.31 compared to 35.39 one year ago and estimated future P/E 22.29. Dividend yield is currently 1.32 compared with 1.81 one year ago.

Leading stocks were NVDA up 5.14%, ABMD up 4.43%, LUMN up 4.32%, PENN up 3.95% and MOS up 3.89%.

Trailing stocks were ROST down 2.73%, DE down 2.10%, LRCX down 1.94%, OGN down 1.77% and GLW down 1.77%.


The Dow Jones industrial Average is up by 0.65% to close at 35120.08. The DOW is down 1.11% over five days, up 0.17% over one month, up 2.67% over three months and up 25.74% over one year.

The trailing P/E is 23.64 compared with 27.90 year ago and an estimated future P/E of 19.04. The current dividend yield is 1.79% compared with 2.25 one year ago.

Leading stocks were MSFT up 2.56%, HD up 1.96%, CSCO down 1.66%, WBA up 1.58% and NKE up 1.33%.

Trailing stocks were INTL down 0.82%, KO down 0.39%, AMGN down 0.38%, V down 0.09%, and HON down 0.01%.


The NASDAQ composite is up by 1.19% and closed at 14714.66. NASDAQ is down 0.73% over five days, down 0.82% over one month, up 9.23% over 3 months and up 30.08% over one year.

Leading stocks were RGC up 204.13%, FLGC up 43.93%, GOVX up 32.79%, DATS up 26.02% and PXLW up 25.00%.

Trailing stocks were PROG down 54.77%, SONN down 48.25%, ENDP down 40.00%, SNOA down 23.93%, and FATE down 21.74%.


The MidCap SP400 is up by 1.17% to close at 2675.67. The SP400 is down 2.04% for the past 5 days, up 0.11% for the past month, down 0.53% for the past 3 months and up 40.07% over the past year.

Leading stocks were FL up 7.26%, BJ up 5.33% and CRI up 4.92%.

Trailing stocks were SABR down 6.74%, STAA down 6.42% and DAR down 5.15%


The SmallCap SP600 is up by 1.57% to close at 1320.96. The SP600 is down 2.14% for the past 5 days, up 0.18% for the past month, down 1.67% for the past 3 months and up 47.64% over the past year.

Leading stocks were PBF up 12.50%, CARA up 10.39% and ORGO up 7.66%.

Trailing stocks were ENDP down 40.00%, NBRWF down 6.53% and KTB down 5.44%.


The CBOE VIX is down by 14.35% and closed at 18.56. The VIX is up 20.13% over five days, up 7.91% over one month, down 7.89% over three months and down 17.66% over one year.


On the New York stock exchange 2373 stocks advanced and 949 declined, while on Nasdaq 3064 advanced and 1377 declined.

There were 79 new 52 week highs and 96 new 52 week lows on NYSE with 69 new highs and 264 new lows on NASDAQ.


The 2 year Treasury note yield is 0.226% and 10 year is 1.261%. The 10 year yield is down 2.5% over five days, down 1.5% over one month, down 35.8% three months ago, and up 62.5% one year ago.


SP500 Sector Performance % change

Information Technology +1.30

Utilities +1.22

Communication Services +0.96

Consumer Discretionary +0.93

Materials +0.64

Financials +0.62

Health Care +0.51

Real Estate +0.45

Energy +0.28

Consumer Staples +0.18


Information Technology has been down 0.44% over five days, up 0.71% over one month, up 14.37% over three months and up 31.93% over one year.


Consumer Staples has been up 0.43% over five days, up 2.17% over one month, up 3.41% over three months and up 14.45% over one year.


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