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SWS Daily Market Update - August 24, 2021


Stocks rose again today, with small percentage increases in all three major indices. The SPX hit another record (the fiftieth for 2021) while Nasdaq closed above 15,000 for the first time. There was no obvious catalyst for the increases today. The enthusiasm caused by the FDA approval of the Pfizer vaccine against COVID may have carried over. Uncertainty continues about the sustainability of strong corporate earnings and the risk that the Fed may tighten its monetary policy at its meeting later this week.


The census bureau reported that sales of new single family homes grew by 1.0% in July to a seasonally adjusted 708,000. The forecast was 700,000. The increase followed three months of declines. This year’s figure was 27.2% below the rate in July 2020. The median sales price was up 18.4% to 390,500. There were an estimated 367,000 houses for sale at the end of July which represents a 6.2 month supply.


Markets

The SP 500 is up by 0.15% to close at 4486.23. The index is up 0.86% over five days, up 1.93% over one month, up 7.12% over three months and up 30.28% 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 BBY up 8.32%, LVS up 7.53%, WYNN up 7.01%, CZR up 5.13% and PENN up 4.73%.

Trailing stocks were STX down 6.10%, MRNA down 4.12%, NLSN down 3.50%, PFE down 3.10% and FTNT down 2.50%.


The Dow Jones industrial Average is up by 0.09% to close at 35366.26. The DOW is up 0.07% over five days, up 0.88% over one month, up 3.07% over three months and up 15.55% over one year.

The trailing P/E is 23.80 compared with 28.22 year ago and an estimated future P/E of 19.04. The current dividend yield is 1.80% compared with 2.28 one year ago.

Leading stocks were DOW up 1.93%, GS up 1.77%, CAT down 1.65%, CSCO up 1.33% and CVX up 1.15%.

Trailing stocks were JNJ down 1.25%, WMT down 1.03%, HD down 0.87%, MRK down 0.84%, and PG down 0.81%.


The NASDAQ composite is up by 0.52% and closed at 15019.80. NASDAQ is up 2.48% over five days, up 2.45% over one month, up 9.98% over 3 months and up 30.99% over one year.

Leading stocks were YI up 30.62%, SKYT up 30.35%, SNTG up 27.08%, NDRA up 26.25% and KLXE up 24.61%.

Trailing stocks were TBPH down 34.79%, OMEG down 15.27%, DATS down 12.77%, XOS down 11.48%, and GRNQ down 10.16%.


The MidCap SP400 is up by 1.01% to close at 2726.16. The SP400 is down 1.25% for the past 5 days, up 2.46% for the past month, up 1.61% for the past 3 months and up 40.83% over the past year.

Leading stocks were SIX up 6.20%, CPRI up 6.15% and ADNT up 6.10%.

Trailing stocks were IRDM down 2.35%, SWX down 2.18% and WEN down 2.15%


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 GME up 27.53%, TALO up 11.76% and ANF up 6.89%.

Trailing stocks were TRHC down 7.66%, NBRWF own 6.83% and WRLD down 4.43%.


The CBOE VIX is up by 0.41% and closed at 17.22. The VIX is down 3.85% over five days, down 11.05% over one month, down 8.60% over three months and down 21.83% over one year.


On the New York stock exchange 2240 stocks advanced and 1084 declined, while on Nasdaq 2872 advanced and 1584 declined.

There were 114 new 52 week highs and 50 new 52 week lows on NYSE with 137 new highs and 80 new lows on NASDAQ.


The 2 year Treasury note yield is 0.230% and 10 year is 1.295%. The 10 year yield is up 3.1% over five days, up 4.8% over one month, down 26.3% three months ago, and up 60.7% one year ago.


SP500 Sector Performance % change

Energy +1.61

Consumer Discretionary +0.76

Financials +0.67

Materials +0.67

Industrials +0.53

Communication Services +0.41

Information Technology -0.13

Health Care -0.34

Utilities -0.63

Real Estate -0.72

Consumer Staples -0.76

Energy has been down 0.46% over five days, down 3.63% over one month, down 7.89% over three months and up 30.99% over one year.

Consumer Staples has been down 1.31% over five days, up 0.86% over one month, up 1.95% over three months and up 12.24% over one year.


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