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SWS Daily Market Update - August 25, 2021


The stock market continued its recent climb on Wednesday on light volume, again creating record highs for the SPX and Nasdaq. Financial and energy stocks did particularly well. Investors continue to be hopeful about the beneficial effects on the economy of the FDA approval of the COVID vaccine. There are also encouraging signs that the 1 trillion dollar infrastructure bill may get passed in September. The market awaits with anticipation the results of the Jackson Hole Symposium starting Friday, hoping for clues as to the plans by the Fed about its monetary policy.


The Commerce Department reported that durable goods orders in July dropped 0.1%, below the estimate of a 0.5% gain and the 0.9% rise in June. Core capital goods orders (nondefense spending excluding aircraft) for June were revised up to 1.0% from 0.7%. The value was unchanged for July. Year over year, orders are up 15.6%. Core capital goods are representative of business spending plans and are used to calculate equipment spending in the calculation of GDP. Shipments of core capital goods were up 1.0% in July.


Economic news for August 26

Initial unemployment claims for week of August 21: estimate 350,000, previous 345,000

Continuing claims for week of August 14: previous 2.82 million

Corporate profits for second quarter (preliminary)

GDP for second quarter (preliminary): estimate 6.7%, previous 6.5%​


Markets

The SP 500 is up by 0.22% to close at 4496.19. The index is up 2.18% over five days, up 2.17% over one month, up 7.15% over three months and up 29.25% 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 PENN up 8.66%, WDC up 7.80%, ULTA up 4.29%, CZR up 4.09% and NRG up 3.75%.

Trailing stocks were GPS down 5.31%, NUE down 2.67%, CPB down 2.17%, TTWO down 1.93% and BIIB down 1.90%.


The Dow Jones industrial Average is up by 0.11% to close at 35405.50. The DOW is up 1.27% over five days, up 1.36% over one month, up 3.15% over three months and up 24.97% over one year.

The trailing P/E is 23.82 compared with 28.30 year ago and an estimated future P/E of 19.04. The current dividend yield is 1.78% compared with 2.27 one year ago.

Leading stocks were AXP up 3.09%, JPM up 2.06%, TRV down 1.21%, GS up 1.12% and CAT up 1.02%.

Trailing stocks were AMGN down 1.24%, UNH down 0.87%, AAPL down 0.84%, MRK down 0.84%, and V down 0.70%.


The NASDAQ composite is up by 0.15% and closed at 15041.86. NASDAQ is up 3.55% over five days, up 1.89% over one month, up 9.49% over 3 months and up 28.95% over one year.

Leading stocks were RGC up 202.81%, LWAC up 93.84%, ADTX up 53.54%, JFIN up 26.46% and DYAI up 20.97%.

Trailing stocks were SAVA down 31.38%, YI down 18.08%, RXST down 13.53%, LX down 13.42%, and EM down 12.31%.


The MidCap SP400 is up by 0.56% to close at 2741.39. The SP400 is down 2.79% for the past 5 days, up 2.30% for the past month, up 1.21% for the past 3 months and up 42.14% over the past year.

Leading stocks were DKS up 13.30%, TRMK up 8.69% and CNK up 5.96%.

Trailing stocks were JWN down 17.64%, URBN down 9.50% and AEO down 6.12%


The SmallCap SP600 is up by 0.39% to close at 1351.86. The SP600 is up 2.97% for the past 5 days, up 1.69% for the past month, down 0.79% for the past 3 months and up 49.81% over the past year.

Leading stocks were SCSC up 15.29%, SKYW up 9.13% and ACLS up 8.40%.

Trailing stocks were TISI down 6.67%, SCVL own 6.40% and PLCE down 5.67%.


The CBOE VIX is down 2.50% and closed at 16.79. The VIX is down 22.16% over five days, down 8.30% over one month, down 3.28% over three months and down 27.85% over one year.


On the New York stock exchange 1898 stocks advanced and 1346 declined, while on Nasdaq 2465 advanced and 1903 declined.

There were 141 new 52 week highs and 36 new 52 week lows on NYSE with 172 new highs and 68 new lows on NASDAQ.


The 2 year Treasury note yield is 0.242% and 10 year is 1.349%. The 10 year yield is up 10.3% over five days, up 7.7% over one month, down 25.6% three months ago, and up 59.4% one year ago.


SP500 Sector Performance % change

Financials +1.21

Energy +0.72

Industrials +0.60

Materials +0.42

Consumer Discretionary +0.31

Communication Services +0.23

Utilities +0.20

Information Technology -0.05

Consumer Staples -0.10

Real Estate -0.18

Health Care -0.26


Financials has been up 2.53% over five days, up 6.19% over one month, up 3.19% over three months and up 56.04% over one year.

Health Care has been down 0.38% over five days, up 2.63% over one month, up 9.71% over three months and up 26.24% over one year.


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