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SWS Market Update - April 29, 2022


U.S. stocks dropped on Friday which made April the worst month for the Nasdaq Composite in more than ten years. The benchmark index fell 4.7% to 12334.64 on Friday, down 13% for the month, and is down 21% for 2022. The S&P 500 went down by 3.63% to close at 4131.93 on Friday and was down 8.8% in April. The S&P 500 is down 13% in 2022. The Dow Jones Industrial Average fell 2.77% to close at 32977.21 on Friday and dropped 4.9% in April and is down over 9% for the year so far.


Economic Reports

Employment cost index increased in the first quarter of 2022 from 1.0% to 1.4%.


PCE price index went up in March from 0.5% to 0.9%.


Core PCE price index dropped from 0.4% to 0.3% as economists had predicted in March.


PCE price index (year-over-year) ticked up from 6.3% to 6.6% in March.


Core PCE price index (year-over-year) reported a slight drop from 5.4% to 5.2% in March.


Nominal personal income went from 0.5% to 0.7% in March.


Nominal consumer spending increased in March 0.6% to 1.1%.


Real disposable incomes decreased from 0.1% to -0.4%.


Real consumer spending was at 0.2% in March.


Chicago PMI fell in April from 62.9 to 56.4.


UMich consumer sentiment index (final) was at 65.2 in April, down from 65.7 previously.


UMich 5-year inflation expectations remained at 3.0% in April.


Markets

The SP 500 went down by 3.63% to close at 4131.93. The index is down 3.27% over five days, down 9.11% over one month, down 6.77% over three months and up 1.18% over one year.

The trailing P/E is 24.14 compared to 39.76 one year ago and estimated future P/E 18.62. Dividend yield is currently 1.46 compared with 1.37 one year ago.

Leading stocks were MHK up 7.86%, CE up 2.81%, HON up 1.89%, VTNR up 1.70% and WDC up 0.87%.

Trailing stocks were VRSN down 14.26%, AMZN down 14.05%, CINF down 9.81%, AON down 8.61% and DRE down 8.67%.


The Dow Jones Industrial Average went down 2.77% to close at 32977.21. The DOW is down 2.47% over five days, down 5.29% over one month, down 5.03% over three months and down 2.65% over one year.

The trailing P/E is 18.98 compared with 29.25 year ago and an estimated future P/E of 17.50. The current dividend yield is 2.15% compared with 1.76 one year ago.

Leading stocks were HON up 1.89%, MRK up 0.12%, CAT down 0.89%, JNJ down 1.64% and PG down 1.75%.

Trailing stocks were INTL down 6.94%, CRM down 5.28%, WBA down 4.78%, VZ down 4.34% and MSFT down 4.18%.


The NASDAQ composite went down 4.17% and closed at 12334.64. NASDAQ is down 3.93% over five days, down 13.51% over one month, down 10.43% over 3 months and down 11.66% over one year.

Leading stocks were GTYH up 115.19%, VAXX up 84.22%, RDBX up 69.41%, CYN up 40.46% and MBII up 30.57%.

Trailing stocks were ACCD down 49.73%, GNCA down 30.55%, MF down 27.74%, INAB down 26.15%, and LIAN down 23.71%.


The MidCap SP400 went down by 2.72% to close at 2500.26. The SP400 is down 3.21% for the past 5 days, down 7.74% for the past month, down 3.03% for the past 3 months and down 8.25% over the past year.

Leading stocks were NCR up 9.88%, GTS up 8.68% and OLN up 7.77%.

Trailing stocks were WU down 12.57%, NATI down 9.42% and FR down 8.88%


The SmallCap SP600 is down by 2.58% to close at 1214.72. The SP600 is down 3.63% for the past 5 days, down 8.76% for the past month, down 4.49% for the past 3 months and down 9.72% over the past year.

Leading stocks were CLW up 20.62%, LNTH up 12.33% and CYTK up 11.52%.

Trailing stocks were RILY down 15.82%, LYLT down 13.52% and CENX down 12.73%.


The CBOE VIX is down by 11.37% and closed at 33.40. The VIX is up 18.40% over five days, up 70.15% over one month, up 20.75% over three months and up 79.47% over one year.


On the New York stock exchange 685 stocks advanced and 2666 declined, while on Nasdaq 1261 advanced and 3559 declined.

There were 24 new 52 week highs and 332 new 52 week lows on NYSE with 35 new highs and 552 new lows on NASDAQ.


The 2 year Treasury note yield is 2.698% and 10 year is 2.889%. The 10-year yield is down 0.7% over five days, up 50.4% over one month, up 111.8% three months ago, and up 126.4% one year ago.


SP500 Sector Performance % Change:

Materials -1.97

Energy -2.41

Health Care -2.48

Industrials -2.62

Consumer Staples -2.66

Utilities -3.01

Financials -3.41

Communication Services -3.57

Information Technology -4.14

Real Estate -4.90

Consumer Discretionary -5.92


Materials has been down 0.82% over five days, down 4.60% over one month, up 2.09% over three months and up 2.48% over one year.


Consumer Discretionary has been down 7.89% over five days, down 13.21% over one month, down 9.20% over three months and down 11.40% over one year.


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