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SWS Daily Market Update - September 7, 2021


All the major indices were down today as investors seem to have considered some of the data released last week and believe that economic growth is slowing down. There appears to be decreased consumer spending which leads to decreased hiring and other spillover effects. The continuing increase in Delta variant infections shows no signs of slowing and there is additional worry of spread with reopening of schools and universities. Young people have the highest rate of being unvaccinated and children under 12 are not eligible for the vaccine at all. There will be very little data this week to reassure markets about third quarter growth. There is also concern about whether the fiscal stimulus will be passed in Congress.


Economic news for September 8

Beige book commentary on economic conditions

Job openings for July: estimate 10.1 million, previous 10.1 million

Consumer credit for July: estimate $26 billion, previous $38 billion


Markets

The SP 500 is down by 0.34% to close at 4520.03. The index is down 0.19% over five days, up 1.98% over one month, up 6.94% over three months and up 31.90% over one year.

The trailing P/E is 31.26 compared to 36.19 one year ago and estimated future P/E 22.26. Dividend yield is currently 1.31 compared with 1.75 one year ago.

Leading stocks were WYNN up 5.61%, MRNA up 4.73%, LVS up 4.17%, PENN up 3.91% and EXPE up 3.40%.

Trailing stocks were VFC down 5.73%, MKTX down 5.03%, MMM down 4.53%, DE down 4.52% and SWK down 4.12%.


The Dow Jones industrial Average is down by 0.76% to close at 35100.00. The DOW is down 0.85% over five days, down 0.01% over one month, up 1.36% over three months and up 24.76% over one year.

The trailing P/E is 23.86 compared with 28.63 year ago and an estimated future P/E of 19.24. The current dividend yield is 1.81% compared with 2.09 one year ago.

Leading stocks were DIS up 1.85%, AAPL up 1.55%, V up 0.52%, AXP up 0.26% and INTL up 0.26%.

Trailing stocks were MMM down 4.53%, HON down 2.38%, AMGN down 2.22%, KO down 1.87%, and BA down 1.80%.


The NASDAQ composite is up by 0.07% and closed at 15374.33. NASDAQ is up 0.71% over five days, up 3.46% over one month, up 10.75% over 3 months and up 35.90% over one year.

Leading stocks were EFTR up 49.88%, SRZN up 36.74%, ARQQ up 35.33%, ZIOP up 33.33% and KAVL up 30.63%.

Trailing stocks were CRMD down 22.52%, CELU down 22.30%, SHCR down 21.75%, FWP down 19.62%, and JAGX down 17.24%.


The MidCap SP400 is down by 1.17% to close at 2728.17. The SP400 is down 1.17% for the past 5 days, up 0.68% for the past month, up 0.07% for the past 3 months and up 43.75% over the past year.

Leading stocks were IRDM up 6.23%, BRKS up 5.56% and THS up 4.46%.

Trailing stocks were FL down 6.47%, KNSL down 6.35% and BLKB down 5.69%


The SmallCap SP600 is down by 0.98% to close at 1356.37. The SP600 is down 0.75% for the past 5 days, up 0.88% for the past month, down 2.95% for the past 3 months and up 52.09% over the past year.

Leading stocks were NBRWF up 6.34%, CEIX up 6.03% and PBF up 5.61%.

Trailing stocks were HIBB down 13.54%, UIHC down 9.16% and MSTR down 9.02%.


The CBOE VIX is up 10.54% and closed at 18.41. The VIX is up 12.04% over five days, up 8.49% over one month, up 10.48% over three months and down 41.01% over one year.


On the New York stock exchange 1023 stocks advanced and 2305 declined, while on Nasdaq 1661 advanced and 2763 declined.

There were 128 new 52 week highs and 34 new 52 week lows on NYSE with 181 new highs and 50 new lows on NASDAQ.


The 2 year Treasury note yield is 0.216% and 10 year is 1.373%. The 10 year yield is up 6.5% over five days, up 1.6% over one month, down 17.0% three months ago, and up 69.5% one year ago.


SP500 Sector Performance % change

Communication Services +0.45

Consumer Discretionary +0.36

Information Technology +0.03

Energy -0.57

Financials -0.57

Health Care -0.57

Materials -0.65

Consumer Staples -1.08

Real Estate -1.13

Utilities -1.37

Industrials -1.77

Communication Services has been up 0.66% over five days, up 4.58% over one month, up 10.78% over three months and up 40.79% over one year.

Industrials has been down 2.02% over five days, down 0.61% over one month, down 1.81% over three months and up 32.09% over one year.


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