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SWS Daily Market Update - August 23, 2021


A strong Monday for the markets with all major indices climbing. Energy, industrials and technology stocks did especially well.


The major news today with the FDA giving approval to the Pfizer vaccine for COVID. This should lead to more acceptance by some previously skeptical of receiving a non approved drug, as well as the ability for governments and companies to more easily mandate vaccination for employees or those attending large events. Both of these changes should eventually result in a slowing of the spread of COVID which will be good news for the country and the economy. Currently, however, infections continue to grow and hospitals are once again filling up.


HIS Markit reported slower growth in August according to its survey of purchasing managers. The service sector fell to an eight month low of 55.2 compared with 59.9 in July. The manufacturing activity also dropped from 63.4 to 61.2, a four month low. (Values above 50 suggest that activity is growing). Reasons given were a weakening of consumer demand because of increasing COVID infections as well as ongoing supply shortages

Existing home sales rose 2% in July to 5.99 million, up from 5.86 million. Year on year, July sales were up 1.5% from 2020. Inventory of homes being offered for sale rose by 7.3% from June and is now the highest since October. There is now a 2.6 month supply of homes listed for sale. The median price dropped slightly to 359,000 from the record 362,000 the previous month.


Markets

The SP 500 is up by 0.85% to close at 4479.53. The index is at 0.00% over five days, up 1.29% over one month, up 6.73% over three months and up 30.55% over one year.

The trailing P/E is 31.20 compared to 35.35 one year ago and estimated future P/E 21.97. Dividend yield is currently 1.34 compared with 1.79 one year ago.

Leading stocks were APA up 7.59%, MRNA up 7.55%, OXY up 6.92%, XLNX up 6.41% and DVN up 6.07%.

Trailing stocks were CBOE down 2.62%, ROL down 2.42%, POOL down 2.37%, XEL down 2.29% and AEE down 2.28%.


The Dow Jones industrial Average is up by 0.61% to close at 35335.71. The DOW is down 0.81% over five days, up 0.54% over one month, up 2.74% over three months and up 24.82% over one year.

The trailing P/E is 23.77 compared with 28.28 year ago and an estimated future P/E of 19.04. The current dividend yield is 1.81% compared with 2.25 one year ago.

Leading stocks were BA up 3.16%, CVX up 2.58%, INTL down 2.35%, CAT up 2.05% and DOW up 1.92%.

Trailing stocks were UNH down 1.01%, WMT down 0.66%, TRV down 0.58%, PG down 0.51%, and HD down 0.46%.


The NASDAQ composite is up by 1.55% and closed at 14942.65. NASDAQ is up 1.01% over five days, up 0.69% over one month, up 9.38% over 3 months and up 31.31% over one year.

Leading stocks were TRIL up 188.83%, VVOS up 53.65%, GRNQ up 34.23%, GOEV up 34.23% and PXLW up 29.21%.

Trailing stocks were RGC down 28.29%, MKTW down 16.69%, STAF down 13.02%, FLGC down 12.15%, and MFH down 11.73%.


The MidCap SP400 is up by 0.87% to close at 2698.99. The SP400 is down 0.95% for the past 5 days, up 0.86% for the past month, down 0.21% for the past 3 months and up 39.26% over the past year.

Leading stocks were LGND up 11.57%, SABR up 8.39% and CNK up 8.01%.

Trailing stocks were BJ down 3.51%, ENR down 2.98% and SWX down 1.90%


The SmallCap SP600 is up by 1.23% to close at 1337.20. The SP600 is down 0.44% for the past 5 days, up 0.54% for the past month, down 0.92% for the past 3 months and up 46.99% over the past year.

Leading stocks were ENDP up 25.82%, NBRWF up 22.07% and VTOL up 15.29%.

Trailing stocks were BGS down 4.87%, FN down 4.84% and PAHC down 4.33%.


The CBOE VIX is down by 7.60% and closed at 17.15. The VIX is down 4.24% over five days, down 11.42% over one month, down 8.97% over three months and down 22.15% over one year.


On the New York stock exchange 2281 stocks advanced and 1062 declined, while on Nasdaq 3314 advanced and 1157 declined.

There were 117 new 52 week highs and 75 new 52 week lows on NYSE with 143 new highs and 97 new lows on NASDAQ.


The 2 year Treasury note yield is 0.234% and 10 year is 1.263%. The 10 year yield is at 0.00% over five days, up 1.38% over one month, down 18.5% three months ago, and up 83.88% one year ago.


SP500 Sector Performance % change

Energy +3.77

Consumer Discretionary +1.36

Communication Services +1.27

Information Technology +1.27

Materials +0.85

Industrials +0.81

Financials +0.78

Health Care -0.02

Consumer Staples -0.35

Real Estate -0.41

Utilities -1.32


Energy has been down 2.04% over five days, down 5.16% over one month, down 9.36% over three months and up 28.91% over one year.

Utilities has been down 0.18% over five days, up 4.62% over one month, up 4.55% over three months and up 15.22% over one year.


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