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SWS Daily Market Update - February 3, 2022


The major U.S. stock indexes fell on Thursday with the S&P 500 experiencing its largest daily percentage drop in almost a year. The S&P 500 fell 2.44% to close at 4477.44. The Dow Jones Industrial Average dropped 1.45% to close at 35111.16 and the Nasdaq Composite went down by 3.74% to close at 13878.82.


Economic Reports

Initial jobless claims for the week ending January 29 fell from 261,000 the week before to 238,000. Continuing jobless claims also reported a decline for the week ending January 22 dropping from 1.67 million to 1.63 million.


Productivity (preliminary) for the fourth quarter was 6.6%. Unit labor costs (preliminary) for the fourth quarter of 2021 went from 9.3% to 0.3%.


Markit services PMI (final) increased for January from 50.9 to 51.2.


ISM services index in January were reported at 59.9%, close to what economists estimated at 60.0%.


Factory orders for December were -0.4%, as forecasted by economists.


Core capital equipment orders (revision) for December were 0.3%.


Markets

The SP 500 is down by 2.44% to close at 4477.44. The index is up 3.49% over five days, down 4.66% over one month, down 4.33% over three months and up 15.64% over one year.

The trailing P/E is 25.96 compared to 40.93 one year ago and estimated future P/E 19.72. Dividend yield is currently 1.40 compared with 1.58 one year ago.

Leading stocks were DXC up 13.75%, TMUS up 10.22%, HUM up 6.23%, BDX up 5.42% and DISCA up 4.48%.

Trailing stocks were FB down 26.39%, XYL down 12.03%, QRVO down 10.33%, ETSY down 8.03% and AMZN down 7.81%.


The Dow Jones industrial Average went down by 1.45% to close at 35111.16. The DOW is up 2.78% over five days, down 3.11% over one month, down 2.80% over three months and up 13.06% over one year.

The trailing P/E is 19.94 compared with 31.04 year ago and an estimated future P/E of 18.41. The current dividend yield is 1.97% compared with 1.94 one year ago.

Leading stocks were UNH up 1.87%, PG up 0.95%, KO up 0.70%, IBM up 0.39% and WMT up 0.10%.

Trailing stocks were HON down 7.62%, CRM down 5.44%, MSFT down 3.90%, MRK down 3.66%, and INTL down 2.48%.


The NASDAQ composite is down 3.74% and closed at 13878.82. NASDAQ is up 3.94% over five days, down 7.97% over one month, down 12.93% over 3 months and up 0.73% over one year.

Leading stocks were TLMD up 342.82%, KAVL up 92.06%, BCDA up 27.39%, BON up 20.95% and APM up 18.68%.

Trailing stocks were TRIT down 52.44%, FB down 26.39%, DAVE down 22.27%, RDBX down 20.39%, and PALI down 17.45%.


The MidCap SP400 went down by 1.63% to close at 2618.86. The SP400 is up 3.52% for the past 5 days, down 6.96% for the past month, down 9.07% for the past 3 months and up 6.79% over the past year.

Leading stocks were AA up 5.96%, VSAT up 5.61% and THG up 4.94%.

Trailing stocks were SITM down 16.56%, LITE down 14.44% and NEU down 11.11%


The SmallCap SP600 is down by 1.45% to close at 1283.49. The SP600 is up 2.47% for the past 5 days, down 8.32% for the past month, down 10.55% for the past 3 months and up 3.65% over the past year.

Leading stocks were HWKN up 10.55%, GHL up 8.64% and TBI up 7.54%.

Trailing stocks were SPPI down 12.61%, SRDX down 11.74% and EHTH down 9.05%.


The CBOE VIX is up by 10.23% and closed at 24.35. The VIX is down 20.14% over five days, up 24.17% over one month, up 57.71% over three months and down 11.85% over one year.


On the New York stock exchange 614 stocks advanced and 2713 declined, while on Nasdaq 963 advanced and 3641 declined.

There were 56 new 52 week highs and 150 new 52 week lows on NYSE with 38 new highs and 237 new lows on NASDAQ.


The 2 year Treasury note yield is 1.198% and 10 year is 1.839%. The 10-year yield is up 6.8% over five days, up 7.2% over one month, up 38.6% three months ago, and up 67.0% one year ago.


SP500 Sector Performance % Change:

Consumer Staples +0.01

Utilities -0.44

Health Care -0.45

Energy -1.04

Real Estate -1.10

Financials -1.15

Industrials -1.67

Materials -1.77

Information Technology -3.07

Consumer Discretionary -3.57

Communication Services -6.83


Consumer Staples has been up 2.81% over five days, down 0.63% over one month, up 6.14% over three months and up 19.62% over one year.

Communication Services has been up 2.51% over five days, down 6.72% over one month, down 12.06% over three months and up 4.89% over one year.



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