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SWS Daily Report - June 29, 2021


Overview

Markets climbed slightly higher today with the three major indices ending positive after some swings during the day. The SPX and Nasdaq once again set new records while the Dow regained some of the losses from yesterday. The market reacted favorably to reports of strong increases in Consumer Confidence and home prices. The moves, although positive, were small as employment data will be released over the next three days.

Economy

The Case-Shiller home price index for April showed a 14.6% annual gain, compared with a 13.3% rise for March. Prices were up by 2.1% over March 2021. The annual gain in April was the highest reading in over 30 years. Gains were spread across all areas of the country, with the largest in Phoenix, San Diego and Seattle. It is still not clear how much of the increase is due to buyers moving from city apartments to suburban homes because of the pandemic and how much may represent a longer term preference in the type of housing that is most desirable. Some of the price gain is driven by the persisting shortage in housing supply. The National Association of Realtors predicts continuing price gains in the next few months.

The Consumer Confidence Index reported by the Conference Board continued to increase in June with a value of 127.3. This was up from 120 in May and represents the fifth consecutive monthly increase. The expected value was 119. The Present Situation Index rose from 148.7 to 157.7 while the Expectations Index was 107, up from 100.9. These levels are the highest since the pandemic started in March 2020.


June 30 Major economic releases

ADP employment report for June

Chicago Purchasing Managers Index for June

Pending home sales index for May​


Markets

The SP 500 is up by 0.03% to close at 4291.80. The index is up 1.07% over five days, up 2.14% over one month, up 8.42% over three months and up 38.43% over one year.

The trailing P/E is 37.26 compared with 27.21 one year ago and estimated future P/E 22.52. Dividend yield is currently 1.35 compared with 2.01 one year ago.

Leading stocks were SWKS up 4.52%, QRVO up 4.45%, MS up 3.35%, XLNX up 4.21% and AMD up 2.80%.

Trailing stocks were FOXA down 3.86%, FOX down 3.20%, VIAC down 2.98%, NOC down 2.67% and NRG down 2.67%.


The Dow Jones industrial Average was down 0.03% to close at 34292.29. The DOW is up 1.02% over five days, down 0.82% over one month, up 3.71% over three months and up 32.85% over one year.

The trailing P/E is 29.00 compared with 21.76 year ago and an estimated future P/E of 20.12. The current dividend yield is 1.83% compared with 2.56 one year ago.

Leading stocks were NKE up 2.36%, HD up 1.26%, AAPL up 1.15%, GS up 1.06% and MSFT up 1.00%.

Trailing stocks were BA down 1.75%, DIS down 1.50%, INTL down 1.27%, UNH down 0.84%, and KO down 0.74%.


The NASDAQ composite is up 0.19% and closed at 14528.33. NASDAQ has been up 1.93% over five days, up 5.76% over one month, up 11.37% over 3 months and up 44.43% over one year.

Leading stocks were BSQR up 206.87%, CERE up 136.20%, MRIN up 130.67%, PBTS up 100.00% and XELA up 59.18%.

Trailing stocks were DMAC down 33.89%, MDWD down 27.84%, RSLS down 27.75%, CELC down 21.34% and AVXL down 18.12%.


The MidCap SP400 dropped by 0.22% to close at 2693.80. The SP400 has been up 0.73% for the past 5 days, down 1.86% for the past month, up 3.26% for the past 3 months and up 51.06% over the past year.

Leading stocks were JEF up 7.07%, CRUS up 4.48% and QDEL up 3.97%.

Trailing stocks were MLHR down 6.92%, BLDR down 5.90% and ARWR down 5.47%


The SmallCap SP600 dropped 0.36% to close at 1369.98. The SP600 is up 0.19% for the past 5 days, down 1.68% for the past month, up 4.09% for the past 3 months and up 64.68% over the past year.

Leading stocks were NBRWF up 8.57%, LPI up 7.84% and EPAC up 7.66%.

Trailing stocks were VCEL down 14.81%, GEO down 6.88% and CYTK down 6.13%.


The CBOE VIX is up 1.65% and closed at 16.02. The VIX is down 3.84% over five days, down 10.50% over one month, down 18.31% over three months and down 47.53% over one year.


On the New York stock exchange 1498 stocks advanced and 1779 declined, while on Nasdaq 1716 advanced and 2596 declined.

There were 148 new 52 week highs and 7 new 52 week lows on NYSE with 153 new highs and 38 new lows on NASDAQ.


The 2 year Treasury note yield is 0.258% and 10 year is 1.472%. The 10 year yield was up 0.5% over five days, down 14.1% over one month, down 25.0% three months ago, and up 81.8% one year ago.


SP500 Sector Performance % change

Information Technology + 0.70

Consumer Discretionary +0.23

Health Care + 0.07

Materials - 0.04

Real Estate - 0.14

Industrials - 0.24

Financials - 0.33

Consumer Staples - 0.41

Energy - 0.50

Communication Services - 0.52

Utilities - 1.65


Information Technology has been up 2.21% over five days, up 7.46% over one month, up 13.07% over three months and up 41.13% over one year.

Utilities has been down 1.08% over five days, down 1.66% over one month, down 0.33% over three months and up 12.25% over one year.


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