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SWS Daily Market Update - December 1, 2021


After a choppy week, the U.S. stock indexes finished higher on Friday with the Dow Jones Industrial Average and the S&P 500 ending a three-week losing streak. The S&P 500 went up 2.43% to 4431.85. The Dow Jones Industrial Average increased by 1.65% to close at 34725.47 and the Nasdaq Composite climbed 3.13% to close at 13770.57.


Economic Reports

PCE inflation (month-to-month change) decreased in December from 0.6% to 0.4%. Core PCE inflation (month-to-month change) remained flat at 0.5%.


PCE inflation (year-over-year change) went up slightly from 5.7% the month before to 5.8% in December. Core PCE inflation (year-over-year change) also increased in December from 4.7% to 4.9%.


Real disposable incomes stayed at -0.2% for December. Real consumer spending dropped to -1.0%.


Personal income (nominal) fell in December from 0.5% to 0.3%. Consumer spending also reported a decline from 0.4% to -0.6%.


Employment cost index for the fourth quarter was 1.0%.


UMich consumer sentiment index (final) for January fell from 68.8 to 67.2.

UMich 5-year inflation expectations (final) remained at 3.1% in January.


Markets

The SP 500 is up by 2.43% to close at 4431.85. The index is up 0.77% over five days, down 7.01% over one month, down 3.77% over three months and up 19.32% over one year.

The trailing P/E is 25.96 compared to 40.93 one year ago and estimated future P/E 19.72. Dividend yield is currently 1.40 compared with 1.58 one year ago.

Leading stocks were V up 10.60%, MA up 9.12%, DXCM up 7.79%, DISCA up 7.57% and FIS up 7.47%.

Trailing stocks were WDC down 7.32%, SYF down 6.75%, VFC down 6.52%, CATT down 5.19% and CE down 4.30%.


The Dow Jones industrial Average went up by 1.65% to close at 34725.47. The DOW is up 1.34% over five days, down 4.44% over one month, down 3.05% over three months and up 15.82% over one year.

The trailing P/E is 20.13 compared with 29.60 year ago and an estimated future P/E of 18.41. The current dividend yield is 1.99% compared with 2.01 one year ago.

Leading stocks were V up 10.60%, AAPL up 6.98%, CRM up 4.41%, VZ up 3.34% and AXP up 3.00%.

Trailing stocks were CAT down 5.19%, MMM down 4.15%, CVX down 3.52%, INTL down 0.67%, and DOW down 0.23%.


The NASDAQ composite is up 3.13% and closed at 13770.57. NASDAQ is up 0.01% over five days, down 11.98% over one month, down 11.15% over 3 months and up 5.35% over one year.

Leading stocks were Knightscope Inc up 175.63%, IMPP up 87.93%, TKLF up 33.33%, GEEXW up 26.60% and MIGI up 24.13%.

Trailing stocks were VLCN down 21.16%, NVIV down 20.45%, DOYU down 19.05%, MDJH down 15.83%, and QRTEB down 15.50%.


The MidCap SP400 is up by 1.92% to close at 2578.31. The SP400 is down 0.62% for the past 5 days, down 9.28% for the past month, down 7.72% for the past 3 months and up 10.18% over the past year.

Leading stocks were FICO up 16.58%, QDEL up 11.19% and SITM up 9.78%.

Trailing stocks were SFM down 4.88%, DAN down 3.73% and ADNT down 3.62%


The SmallCap SP600 is up by 1.55% to close at 1271.86. The SP600 is down 0.81% for the past 5 days, down 9.26% for the past month, down 7.60% for the past 3 months and up 7.00% over the past year.

Leading stocks were BBBY up 12.29%, CELH up 11.26% and NBRWF up 11.11%.

Trailing stocks were BOOT down 9.72%, GEO down 8.07% and OXM down 7.88%.


The CBOE VIX is down by 9.28% and closed at 27.66. The VIX is down 4.12% over five days, up 60.63% over one month, up 70.11% over three months and down 16.41% over one year.


On the New York stock exchange 2267 stocks advanced and 1133 declined, while on Nasdaq 3177 advanced and 1634 declined.

There were 11 new 52 week highs and 542 new 52 week lows on NYSE with 21 new highs and 1156 new lows on NASDAQ.


The 2 year Treasury note yield is 1.206% and 10 year is 1.796%. The 10-year yield is up 2.5% over five days, up 16.5% over one month, up 23.4% three months ago, and up 71.8% one year ago.


SP500 Sector Performance % Change:

Information Technology +4.33

Real Estate +3.38

Communication Services +2.92

Consumer Discretionary +2.30

Health Care +2.08

Financials +1.27

Utilities +1.18

Consumer Staples +1.17

Industrials +0.68

Materials +0.57

Energy -0.60


Information Technology has been up 2.26% over five days, down 9.36% over one month, down 2.37% over three months and up 22.06% over one year.


Energy has been up 5.01% over five days, up 18.45% over one month, up 14.79% over three months and up 68.87% over one year.



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