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SWS Daily Market Update - December 15, 2021


Overview

The Federal Reserve announced on Wednesday that it will start tapering bond purchases in 2022 and that there will be a series of interest rate increases next year. Officials stated that they would be reducing bond purchases by $30 billion per month, winding down in March 2022. As a result of this announcement, U.S. stocks climbed with the Nasdaq Composite gaining 2.15% to close at 15565.58. The S&P 500 added 1.63% to 4709.85 and the Dow Jones Industrial Average ticked up 1.08% to 35927.43.


Retail Sales for November was 0.3%. For retail sales excluding autos, it was also 0.3%.


Import price index went from 1.5% in October to 0.7% in November. The import price index excluding fuels was 0.5% for the month.


Empire State manufacturing index for December came in at 31.9, higher than economists had predicted at 25.0.


NAHB home builders index went up one point from 83 to 84 for December.


Business inventories for October remained at 1.2%


Inventory sales ratio stayed flat at 1.24.


Markets

The SP 500 is up by 1.63% to close at 4709.85. The index is up 0.18% over five days, up 0.45% over one month, up 5.11% over three months and up 27.25% over one year.

The trailing P/E is 28.65 compared to 41.52 one year ago and estimated future P/E 22.17. Dividend yield is currently 1.29 compared with 1.65 one year ago.

Leading stocks were LLY up 10.39%, AMD up 8.04%, NVDA up 7.49%, FTNT up 6.64% and PFE up 5.87%.

Trailing stocks were NUE down 8.61%, MDT down 6.04%, NEM down 3.45%, LYB down 2.38% and down EPAM 2.13%.


The Dow Jones industrial Average went up by 1.08% to close at 35927.43. The DOW is up 0.48% over five days, down 0.01% over one month, up 3.20% over three months and up 19.14% over one year.

The trailing P/E is 22.36 compared with 29.68 year ago and an estimated future P/E of 18.49. The current dividend yield is 1.92% compared with 2.00 one year ago.

Leading stocks were CSCO up 3.74%, UNH up 3.11%, AAPL up 2.85%, AMGN up 2.58% and MRK up 2.13%.

Trailing stocks were NKE down 0.91%, JPM down 0.75%, CVX down 0.57%, IBM down 0.53%, and AXP down 0.37%.


The NASDAQ composite is up 2.15% and closed at 15565.58. NASDAQ is down 1.40% over five days, down 2.24% over one month, up 2.66% over 3 months and up 22.97% over one year.

Leading stocks were THRX up 34.12%, CCMP up 33.93%, BFRI up 26.36%, AVCT up 25.41% and GMTX up 23.05%.

Trailing stocks were ATAI down 31.94%, PULM down 31.58%, PLIN down 28.17%, ASPU down 27.20%, and KPRX down 27.02%.


The MidCap SP400 is down by 1.05% to close at 2766.65. The SP400 is down 1.82% for the past 5 days, down 4.22% for the past month, up 2.41% for the past 3 months and up 21.40% over the past year.

Leading stocks were CCMP up 33.93%, TNDM up 10.47% and IIVI up 8.70%.

Trailing stocks were CRNC down 11.37%, SABR down 8.44% and BCO down 5.36%


The SmallCap SP600 is up by 1.27% to close at 1363.13. The SP600 is down 2.67% for the past 5 days, down 5.63% for the past month, up 2.22% for the past 3 months and up 23.30% over the past year.

Leading stocks were CONN up 16.06%, COHU up 12.64% and EGRX up 12.09%.

Trailing stocks were ABM down 11.01%, CPS down 7.07% and NFBK down 5.25%.


The CBOE VIX is down 11.88% and closed at 19.29. The VIX is down 3.07% over five days, up 12.74% over one month, up 6.11% over three months and down 14.27% over one year.


On the New York stock exchange 2207 stocks advanced and 1151 declined, while on Nasdaq 2966 advanced and 1726 declined.

There were 69 new 52 week highs and 230 new 52 week lows on NYSE with 56 new highs and 641 new lows on NASDAQ.


The 2 year Treasury note yield is 0.661% and 10 year is 1.457%. The 10-year yield is down 3.6% over five days, down 20.0% over one month, up 14.9% three months ago, and up 52.7% one year ago.


SP500 Sector Performance % Change:


Information Technology +2.75

Health Care +2.11

Utilities +1.68

Real Estate +1.48

Consumer Discretionary +1.42

Communication Services +1.26

Consumer Staples +1.18

Industrials +0.89

Financials +0.31

Materials +0.28

Energy -0.42


Information Technology has been up 0.38% over five days, up 3.34% over one month, up 10.24% over three months and up 36.03% over one year


Energy is down 3.70% over five days, down 3.63% over one month, up 10.45% over three months and up 38.42% over one year.

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