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SWS Daily Market Update - October 28, 2021


A strong day for the major U.S. stock indexes with the Nasdaq Composite up 1.4% and closing at 15448.12, its first record high since September. The S&P 500 was up 1.02% to 4596.42, its 58th record of the year. The Dow Jones Industrial Average also gained 0.68% to close at 35730.48.


Initial jobless claims reported the lowest number of claims in the past 19-months at 281,000 for the week ending October 23. Although this is still higher than pre-pandemic levels, it demonstrates that the labor market is slowly starting to recover as the demand for labor has started to increase again. This figure was down 10,000 from the previous week’s total.


Continuing jobless claims also dropped the week ending October 16 to their lowest level since the beginning of the pandemic from 2.48 million to 2.24 million.


Gross domestic product (real, SAAR) gained at an annual rate of 2.0% for the third quarter of 2021, lower than the estimated 2.8%. Second quarter GDP increased at an annual of 6.7%. The drop in the real GDP in the third quarter of 2021 corresponded with the decrease in consumer spending and rise of COVID cases.


The pending home sales index for September fell 2.3% from August. Economists had predicated the index to come in at 1.0% for September.


Markets

The SP 500 is up by 0.98% to close at 4596.41. The index is up 1.02% over five days, up 6.71% over one month, up 4.01% over three months and up 38.86% over one year.

The trailing P/E is 30.45 compared to 38.25 one year ago and estimated future P/E 22.17. Dividend yield is currently 1.32 compared with 1.73 one year ago.

Leading stocks were TER up 11.32%, AOS up 10.49%, F up 8.96%, NLSN up 6.54% and ALB up 6.22%.

Trailing stocks were NOC down 7.64%, EBAY down 6.76%, MO down 6.02%, TFX down 5.14% and NEM down 4.52%.


The Dow Jones industrial Average is up by 0.68% to close at 35730.48. The DOW is down 0.36% over five days, up 5.57% over one month, up 1.84% over three months and up 34.03% over one year.

The trailing P/E is 23.06 compared with 25.89 year ago and an estimated future P/E of 18.93. The current dividend yield is 1.79% compared with 2.31 one year ago.

Leading stocks were MRK up 6.19%, CAT up 4.14%, AAPL up 2.50%, JPM up 1.58% and NKE up 1.31%.

Trailing stocks were V down 2.68%, AXP down 1.92%, JNJ down 0.48%, HD down 0.09%, and WBA down 0.04%.


The NASDAQ composite is up 1.39% and closed at 15448.12. NASDAQ is up 1.53% over five days, up 6.92% over one month, up 4.53% over 3 months and up 38.11% over one year.

Leading stocks were HCWB up 61.99%, VRAR up 51.60%, IFRX up 42.46%, METX up 41.27% and TRIT up 34.49%.

Trailing stocks were CWBR down 37.83%, BBI down 25.53%, BCOV down 20.74%, SYTA down 19.25%, and TIGR down 17.18%.


The MidCap SP400 is up by 1.60% to close at 2749.37. The SP400 is down 1.25% for the past 5 days, up 2.52% for the past month, up 2.60% for the past 3 months and up 45.04% over the past year.

Leading stocks were SAIA up 13.86%, VC up 9.32% and FLR up 9.09%.

Trailing stocks were WEX down 12.67%, FLS down 8.55% and SGMS down 7.95%


The SmallCap SP600 is up by 1.88% to close at 1378.71. The SP600 is down 0.13% for the past 5 days, up 3.53% for the past month, up 2.53% for the past 3 months and up 55.15% over the past year.

Leading stocks were UCCTT up 19.21%, CYH up 18.40% and MXL up 17.88%.

Trailing stocks were PRLB down 20.46%, DBD down 15.05% and THRM down 13.368%.


The CBOE VIX is down 2.65% and closed at 16.53. The VIX is up 10.13% over five days, down 28.57% over one month, down 6.61% over three months and down 56.03% over one year.


On the New York stock exchange 2320 stocks advanced and 1014 declined, while on Nasdaq 3229 advanced and 1305 declined.

There were 139 new 52 week highs and 45 new 52 week lows on NYSE with 153 new highs and 102 new lows on NASDAQ.


The 2 year Treasury note yield is 0.485% and 10 year is 1.579%. The 10 year yield is down 5.7% over five days, up 11.6% over one month, up 35.1% three months ago, and up 70.0% one year ago.


SP500 Sector Performance % change

Real Estate +1.47

Consumer Discretionary +1.37

Industrials +1.29

Financials +1.24

Information Technology +1.06

Materials +1.02

Health Care +0.86

Energy +0.69

Utilities +0.65

Consumer Staples +0.38

Communication Services +0.32

Real Estate is up 2.18% over five days, up 8.75% over one month, up 4.61% over three months and up 41.97% over one year.

Communication Services has been down 1.11% over five days, up 1.80% over one month, down 0.60% over three months and up 37.45% over one year.


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