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SWS Market Update - July 8, 2022


The U.S. benchmark indexes were mixed at market close on Friday, but all three major indexes finished the week with gains. The Labor Department reported that 327,000 jobs were added in June, much higher than economists had expected at 250,000.

The S&P 500 fell by 0.08% to 3899.38 today but was up 1.9% for the week. The Dow Jones Industrial Average lost 0.15% to close at 31338.15 on Friday however gained 0.8% for the week. The Nasdaq Composite went up by 0.12% to 11635.31 and climbed 4.6% for the week.

Economic Reports

Nonfarm payrolls (monthly change) dropped in June from 384,000 to 372,000 in June. Economists had predicted a much larger drop to 250,000.

The unemployment rate remained at 3.6% in June.

Average hourly earnings reported a slight decline from 0.4% to 0.3%.

The labor force participation rate, ages 25-54 went from 82.6% in May to 82.3% in June.

Wholesale inventories revision for May was 1.8%.

Markets

The SP 500 went down by 0.08% to close at 3899.38. The index is up 1.94% over five days, down 0.04% over one month, down 13.12% over three months and down 10.76% over one year.

The trailing P/E is 21.07 compared to 37.70 one year ago and estimated future P/E 16.69. Dividend yield is currently 1.68 compared with 1.33 one year ago.

Leading stocks were ENPH up 4.65%, CNC up 3.23%, MCK up 3.10%, SEDG up 2.88% and ON up 2.81%.

Trailing stocks were TWTR down 5.10%, CZR down 4.67%, AOS down 4.43%, FCX down 4.18% and WBD down 3.65%.


The Dow Jones Industrial Average went down 0.15% to close at 31338.15. The DOW is down 0.77% over five days, down 0.17% over one month, down 9.74% over three months and down 10.13% over one year.

The trailing P/E is 17.92 compared with 28.96 year ago and an estimated future P/E of 16.60. The current dividend yield is 2.24% compared with 1.81 one year ago.

Leading stocks were UNH up 0.83%, AXP up 0.52%, AAPL up 0.47%, AMGN up 0.43% and CSCO up 0.39%.

Trailing stocks were WBA down 1.73%, DOW down 1.72%, DIS down 1.61%, MMM down 1.02% and GS down 0.71%.


The NASDAQ composite went up 0.12% and closed at 11635.31. NASDAQ is up 4.56% over five days, up 2.60% over one month, down 15.14% over 3 months and down 20.86% over one year.

Leading stocks were ADTX up 50.00%, WTRH up 48.49%, ORMP up 44.37%, MYMD up 42.14% and KRUS up 33.62%.

Trailing stocks were ENJY down 52.12%, UPST down 19.71%, CFRX down 15.95%, CDLX down 15.88%, and WDFC down 14.91%.


The MidCap SP400 went down by 0.33% to close at 2320.39. The SP400 is up 1.07% for the past 5 days, down 3.44% for the past month, down 11.34% for the past 3 months and down 14.26% over the past year.


The SmallCap SP600 went down by 0.24% to close at 1143.84. The SP600 is up 0.47% for the past 5 days, down 3.85% for the past month, down 10.13% for the past 3 months and down 15.87% over the past year.


The CBOE VIX is down by 5.52% and closed at 24.64. The VIX is down 7.72% over five days, down 11.21% over one month, up 16.45% over three months and up 52.29% over one year.


On the New York stock exchange 1498 stocks advanced and 1708 declined, while on Nasdaq 2469 advanced and 2091 declined.

There were 7 new 52 week highs and 56 new 52 week lows on NYSE with 27 new highs and 83 new lows on NASDAQ.


The 2 year Treasury note is 3.115% and the 10 year is 3.084%. The 10-year yield is up 19.0% over five days, down 7.9% over one month, up 42.5% three months ago, and up 172.4% one year ago.


SP500 Sector Performance % Change:

Health Care +0.27

Information Technology +0.07

Energy -0.01

Consumer Discretionary -0.02

Consumer Staples -0.19

Financials -0.20

Communication Services -0.21

Utilities -0.33

Industrials -0.46

Real Estate -0.55

Materials -1.00

Health Care has been up 2.02% over five days, up 2.78% over one month, down 7.88% over three months and up 1.90% over one year.

Materials has been down 0.28% over five days, down 12.87% over one month, down 16.83% over three months and up 10.11% over one year.


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