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SWS Daily Market Update - July 19, 2021



Overview

Stocks plummeted today because of fears that spreading COVID infections could slow reopenings or even cause new shutdowns. The increase seems to be a combination of the highly contagious delta variant spreading rapidly and a slow down in the rate of vaccinations. It appears that many people who are not yet vaccinated have no intention of changing their minds. The SPX dropped the most in two months with DOW lost the most since October. Losses were fairly widespread across sectors, with major drops in companies affected by restrictions on movement. Oil prices and Treasury yields also dropped. In previous drops in recent weeks, investors who like to buy on the dip have come in to limit losses. It is uncertain if this will happen again, as it will likely take days to weeks to determine the course of this COVID wave.

There were no major releases scheduled for July 19.


Markets

The SP 500 dropped by 1.59% to close at 4258.49. The index is down 2.98% over five days, up 0.80% over one month, up 2.29% over three months and up 30.96% over one year.

The trailing P/E is 36.60 compared with 29.34 one year ago and estimated future P/E 22.57. Dividend yield is currently 1.35 compared with 1.90 one year ago.

Leading stocks were KR up 4.34%, NVDA up 3.41%, ETSY up 3.20%, TYL up 1.80% and CAG up 1.55%.

Trailing stocks were KIM down 7.34%, FANG down 6.60%, SPG down 5.87%, WELL down 5.85% and OKE down 5.83%.


The Dow Jones industrial Average dropped by 2.09% to close at 33962.04. The DOW is down 2.95% over five days, up 0.25% over one month, down 0.34% over three months and up 27.29% over one year.

The trailing P/E is 26.14 compared with 22.85 year ago and an estimated future P/E of 19.80. The current dividend yield is 1.84% compared with 2.47 one year ago.

Leading stocks were PG down 0.05%, WMT down 0.23%, CRM down 0.37%, AMGN down 0.50% and INTL down 0.60%.

Trailing stocks were BA down 4.94%, AXP down 4.24%, HON down 4.20%, DOW down 3.70%, and DIS down 3.55%.


The NASDAQ composite dropped by 1.06% and closed at 14274.98. NASDAQ dropped 3.11% over five days, up 0.94% over one month, up 2.59% over 3 months and up 32.58% over one year.

Leading stocks were AEHR up 87.94%, NRXP up 45.31%, AHPI up 43.70%, CYTK up 40.41% and MTSL up 38.44%.

Trailing stocks were RCAT down 42.25%, DTST down 27.61%, SXTC down 21.70%, CPOP down 21.26%, and HYZN down 20.04%.


The MidCap SP400 dropped by 1.76% to close at 2571.03. The SP400 is down 5.25% for the past 5 days, up 3.77% for the past month, down 4.92 for the past 3 months and up 40.83% over the past year.

Leading stocks were QQDEL up 7.92%, LGND up 7.23% and PGNY up 4.44%.

Trailing stocks were SIX down 8.53%, EPR down 7.18% and WRI down 6.62%


The SmallCap SP600 dropped by 1.89% to close at 1273.00. The SP600 is down 6.75% for the past 5 days, down 6.46% for the past month, down 4.53% for the past 3 months and up 51.21% over the past year.

Leading stocks were CYTK up 40.41%, FLOW up 22.29% and FLGT up 9.79%.

Trailing stocks were HT down 12.40%, RRGB down 11.13% and KRG down 9.99%.


The CBOE VIX is up by 21.95% and closed at 22.50. The VIX is up 39.15% over five days, down 25.77% over one month, up 30.13% over three months and down 8.01% over one year.


On the New York stock exchange 517 stocks advanced and 2879 declined, while on Nasdaq 1247 advanced and 3161 declined.

There were 20 new 52 week highs and 96 new 52 week lows on NYSE with 40 new highs and 257 new lows on NASDAQ.


The 2 year Treasury note yield is 0.218% and 10 year is 1.194%. The 10 year yield is down 22.9% over five days, down 27.3% over one month, down 36.8% three months ago, and up 59.2% one year ago.


SP500 Sector Performance % change

Consumer Staples -0.31

Health Care -1.07

Consumer Discretionary -1.13

Information Technology -1.39

Real Estate -1.58

Utilities -1.59

Communication Services -1.65

Industrials -2.14

Materials -2.18

Financials -2.80

Energy -3.59

Consumer Staples has been up 1.15% over five days, up 2.47% over one month, up 2.48% over three months and up 17.01% over one year.

Energy has been down 10.93% over five days, down 13.06% over one month, down 2.63% over three months and up 29.95% over one year.


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