Markets were mixed today with the biggest gain in Nasdaq which rose for the third straight day. Technology stocks led the way. There has been no clear direction for the markets in recent weeks. Although the SP500 reached a one month high, it has changed less than 1% for the past 12 days and is within 0.1% of its value one month ago. Balancing forces continue to be the growing economy versus risk of inflation and higher interest rates. The consumer price index to be released June 10 will be a major signal.
The US trade deficit in April dropped to 69 billion from 75 billion in March, and in line with expectations. Exports rose to a 15 month high of 205 billion while imports dropped to 274 billion, suggesting a decline in domestic demand.
The SP 500 rose 0.02% to close at 4227. The index has been up 0.6% over five days, up 1.8% over one month, up 9.1% over three months and up 31.8% over one year.
The trailing P/E is 37.0 compared with 27.2 one year ago and estimated future P/E 22.5. Dividend yield is currently 1.38 compared with 1.98 one year ago.
Leading stocks were GNRC up 6.3%, NRG up 4.5%, NWS up 3.8% ALB up 3.1% and LUMN up 3.0%. Trailing stocks were OGN down 8.0%, MU down 4.2%, CMS down 3.9%, DISCA down 3.8% and DISCK down 3.8%.
The Dow Jones industrial Average was down 0.09% to close at 34600. The DOW is up 0.1% over five days, up 1.0% over one month, up 8.7% over three months and up 26.9% over one year.
The trailing P/E is 29.5 compared with 23.0 year ago and an estimated future P/E of 20.5. The current dividend yield is 1.80% compared with 2.38 one year ago.
Leading stocks were CVX up 0.9%, HON up 0.7%, IBM up 0.7%, AAPL up 0.7% and MCD up 0.4%.
Trailing stocks were PG down 1.2%, WBA down 1.0%, GS down 0.9%, JNJ down 0.9% and WMT down 0.8%.
The NASDAQ composite rose 0.31% and closed at 13,925. NASDAQ has been up 1.4% over five days, up 4.0% over one month, up 6.5% over 3 months and up 39.9% over one year.
Leading stocks were CLOV up 85.8%, NEXT up 59.8%, ASTS up 51.4%, wish UP 49.9% and AEHL up 38.5%
Trailing stocks were OPRA down 23.3%, HOOK down 19.3%, JZXN down 17.2%, RIDE down 16.3% and ACRS down 16.2%
The MidCap SP400 rose 0.9% to close at 2754. The SP400 has been up 0.2% for the past 5 days, up 1.4% for the past month, up 8.0% for the past 3 months and up 44.4% over the past year.
Leading stocks were WEN up 25.9%, YELP up 7.4% and WING up 6.7%.
Trailing stocks were TCF down 3.3%, UTHR down 3.1% and SIX down 2.9%
The SmallCap SP600 rose 1.2% to close at 1414. The SP600 has been up 1.5% for the past 5 days, up 5.7% for the past month, up 5.5% for the past 3 months and up 58.0% over the past year.
Leading stocks were HA up 10.9%, EBIX up 10.3% and LCI up 10.1%.
Trailing stocks were CELH down 11.6%, CYH down 5.1% and FBK down 4.9%.
The CBOE VIX rose 3.96% and closed at 17.07. The VIX is down 4.6% over five days, down 21.8% over one month, down 29.0% over three months and down 38.1% over one year.
On the New York stock exchange 2113 stocks advanced and 1191 declined, while on NASDDAQ 2653 advanced and 1611 declined.
There were 398 new 52 week highs and 10 new 52 week lows on NYSE with 270 new highs and 11 new lows on NASDAQ.
The 2 year Treasury note yield is 0.161% and 10 year is 1.525%. The 10 year yield was 1.60% one month ago, 1.59% three months ago, 0.92% six months ago and 0.88% one year ago.
SP500 Sector Performance % change
Consumer discretionary + 0.96
Energy + 0.88
Real Estate + 0.51
Industrials + 0.26
Materials + 0.16
Information technology + 0.02
Financials - 0.20
Communication services - 0.23
Health Care - 0.36
Consumer staples - 0.85
Utilities - 0.91
Consumer discretionary has been up 0.09% over five days, up 0.02% over one month, up 9.8% over three months and up 29.4% over one year. The major segments are automobiles and components down 0.09%, consumer services up 0.68%, consumer durables and apparel up 0.12% and retailing up 1.47%.
Utilities has been up 0.15% over five days, down 2.0% over one month, up 5.9% over three months and up 5.6% over one year.