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SWS Daily Market Update - October 7, 2021


Stocks climbed again today as Congress confirmed that the government debt ceiling has been extended to December, allowing more time to try and achieve passage of the massive stimulus bill under consideration. SPX rose 0.8%, DOW rose 1% and Nasdaq composite was up 1%.

The NYSE had 2329 advances, 982 declines with 128 new 52 week highs and 61 new 52 week lows. On Nasdaq there were 3244 advances, 1299 declines, 122 new highs and 196 new lows. The leading sector was Consumer discretionary up 1.50% and trailing was Utilities down – 0.53%. The COBE volatility index dropped – 1.41% to 21.00.


Weekly unemployment claims decreased by 38,000 to 326,000, the first drop in 4 weeks. The forecast was 348,000. The low in the pandemic era was 312,000 in early September. Continuing claims also dropped 97,000 to 2.71 million.


Consumer credit rose in August by $14.4 billion, below the expected 17.2 billion.

Economic news tomorrow includes nonfarm payrolls and the unemployment rate for September as well as average hourly earnings.


Markets

The SP 500 is up by 0.83% to close at 4399.76. The index is up 2.14% over five days, down 2.08% over one month, up 1.83% over three months and up 27.65% over one year.

The trailing P/E is 30.04 compared to 36.94 one year ago and estimated future P/E 21.47. Dividend yield is currently 1.38 compared with 1.81 one year ago.

Leading stocks were FCX up 8.23%, F up 5.45%, PENN up 4.86%, GM up 4.65% and APTV up 4.50%.

Trailing stocks were PNW down 8.07%, LW down 6.64%, NCLH down 2.21%, LYV down 2.04% and K down 2.00%.


The Dow Jones industrial Average is up by 0.98% to close at 34754.94. The DOW is up 2.69% over five days, down 0.36% over one month, up 0.97% over three months and up 22.27% over one year.

The trailing P/E is 23.60 compared with 27.89 year ago and an estimated future P/E of 18.56. The current dividend yield is 1.84% compared with 2.16 one year ago.

Leading stocks were UNH up 2.65%, DOW up 2.36%, HD up 2.16%, NKE up 2.05% and CAT up 2.03%.

Trailing stocks were AMGN down 0.41%, IBM down 0.39%, MMM down 0.34%, CRM down 0.25%, and VZ up 0.02%.


The NASDAQ composite is up by 1.05% and closed at 14654.02. NASDAQ is up 1.42% over five days, down 3.90% over one month, up 0.65% over 3 months and up 28.31% over one year.

Leading stocks were MRUS up 37.45%, NFE up 25.51%, NTR up 23.31%, AEHR up 22.41% and BRCN up 20.44%.

Trailing stocks were PRLD down 39.75%, OSMT down 37.58%, ORIC down 35.44%, TPTX down 23.31%, and ELYM down 14.41%.


The MidCap SP400 is up by 1.42% to close at 2705.26. The SP400 is up 2.45% for the past 5 days, down 0.24% for the past month, up 2.15% for the past 3 months and up 35.84% over the past year.

Leading stocks were AZPN up 9.66%, RUN up 7.60% and FIVE up 6.01%.

Trailing stocks were PRGO down 4.68%, AVT down 3.32% and SWX down 2.79%


The SmallCap SP600 is up by 1.57% to close at 1366.69. The SP600 is up 2.63% for the past 5 days, up 1.94% for the past month, up 3.19% for the past 3 months and up 48.22% over the past year.

Leading stocks were RGP up 15.20%, SLCA up 14.62% and NBRWF up 12.50%.

Trailing stocks were JYNT down 11.29%, ORGO down 4.14% and HA down 3.43%.


The CBOE VIX is down 6.95% and closed at 19.54. The VIX is down 15.56% over five days, up 3.94% over one month, up 2.84% over three months and down 25.87% over one year.


On the New York stock exchange 2329 stocks advanced and 982 declined, while on Nasdaq 3244 advanced and 1298 declined.

There were 128 new 52 week highs and 61 new 52 week lows on NYSE with 122 new highs and 196 new lows on NASDAQ.


The 2 year Treasury note yield is 0.313% and 10 year is 1.577%. The 10 year yield is up 11.4% over five days, up 23.6% over one month, up 21.7% three months ago, and up 80.0% one year ago.


SP500 Sector Performance % change

Consumer Discretionary +1.50

Materials +1.35

Health Care +1.23

Information Technology +0.91

Industrials +0.77

Energy +0.69

Financials +0.59

Consumer Staples +0.42

Communication Services +0.32

Real Estate +0.15

Utilities -0.53

Consumer Discretionary is up 1.98% over five days, down 0.83% over one month, down 0.33% over three months and up 17.44% over one year.

Utilities has been up 2.16% over five days, down 5.45% over one month, up 1.08% over three months and up 2.76% over one year.


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