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SWS Daily Market Update - September 16, 2021


The market dropped on Thursday after mixed economic signals and ongoing Delta virus infection spread. The SPX and DOW dropped 0.2% each while Nasdaq rose 0.1%


Initial jobless claims for the week of September 16 rose slightly to 332,000 from 310,000 last week and above the estimate of 318,000. The 4 weeks moving average continued to drop to 336,000, the lowest since March 2020.


Continuing claims, which are a measure of all individuals receiving benefits dropped to 2.67 million from 2.78 million, another pandemic low.


Business inventories for July rose 0.5%, in line with the estimate and below the 0.9% in June. Inventories are up 7.2 year on year. Retail inventories were up 0.4%, 0.5% excluding autos while wholesale were up 0.6%


Economic news for September 17

Today is triple witching, or OpEx, where stock and index options and futures on indexes all expire. The SPX often drops in the days leading up to the event.

University of Michigan’s preliminary consumer sentiment index for September: estimate 72, previous 70.3.


Markets

The SP 500 is up by 0.85% to close at 4443.05. The index is down 074% over five days, up 1.83% over one month, up 6.08% over three months and up 32.35% over one year.

The trailing P/E is 31.41 compared to 36.58 one year ago and estimated future P/E 22.10. Dividend yield is currently 1.31 compared with 1.79 one year ago.

Leading stocks were EOG up 8.33%, FANG up 7.80%, MRO up 7.67%, DVN up 7.29% and COG up 7.07%.

Trailing stocks were WYNN down 6.30%, EA down 5.73%, SBUX down 3.55%, MGM down 2.49% and LYV down 2.41%.


The Dow Jones industrial Average is up by 0.68% to close at 34814.39. The DOW is down 0.62% over five days, down 0.42% over one month, up 2.29% over three months and up 24.19% over one year.

The trailing P/E is 23.66 compared with 27.52 year ago and an estimated future P/E of 18.94. The current dividend yield is 1.83% compared with 2.20 one year ago.

Leading stocks were WBA up 3.94%, CVX up 2.12%, CAT up 1.68%, MSFT up 1.68% and BA up 1.25%.

Trailing stocks were CSCO down 0.54%, NKE down 0.54%, GS down 0.43%, PG down 0.21%, and MCD down 0.06%.


The NASDAQ composite is up by 0.82% and closed at 15161.53. NASDAQ is down 0.82% over five days, up 4.38% over one month, up 7.99% over 3 months and up 37.20% over one year.

Leading stocks were GSKY up 53.15%, INDP up 52.05%, ANY up 26.07%, UROY up 25.35% and TIL up 16.55%.

Trailing stocks were KAVL down 42.13%, SONM down 29.08%, NUWE down 27.64%, GREE down 22.54%, and MKD down 20.47%.


The MidCap SP400 is down by 1.06% to close at 2701.63. The SP400 is down 0.62% for the past 5 days, up 1.30% for the past month, down 0.17% for the past 3 months and up 42.30% over the past year.

Leading stocks were ELY up 11.42%, TGNA up 8.46% and MUR up 8.16%.

Trailing stocks were RAMP down 6.16%, RUN down 3.73% and PRG down 3.53%


The SmallCap SP600 is up by 1.08% to close at 1333.50. The SP600 is down 0.82% for the past 5 days, up 1.58% for the past month, down 4.04% for the past 3 months and up 51.06% over the past year.

Leading stocks were SM up 13.62%, LPI up 12.86% and RRC up 9.73%.

Trailing stocks were PNTG down 7.96%, BLFS down 5.88% and CNSL down 3.50%.


The CBOE VIX is down 6.58% and closed at 18.18. The VIX is up 1.22% over five days, down 15.72% over one month, up 0.17% over three months and down 30.18% over one year.


On the New York stock exchange 2292 stocks advanced and 1005 declined, while on Nasdaq 2806 advanced and 1635 declined.

There were 74 new 52 week highs and 48 new 52 week lows on NYSE with 98 new highs and 111 new lows on NASDAQ.


The 2 year Treasury note yield is 0.217% and 10 year is 1.301%. The 10 year yield is down 0.2% over five days, up 5.5% over one month, down 20.8% three months ago, and up 60.8% one year ago.


SP500 Sector Performance % change

Energy +3.82

Industrials +1.12

Materials +1.10

Financials +0.93

Information Technology +0.89

Communication Services +0.72

Health Care +0.68

Consumer Discretionary +0.66

Real Estate +0.41

Consumer Staples +0.40

Utilities -0.15

Energy is up 5.30% over five days, up 6.72% over one month, down 10.11% over three months and up 48.59% over one year.

Utilities has been down 2.68% over five days, up 1.48% over one month, up 3.87% over three months and up 13.37% over one year.


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