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SWS Market Update - June 10, 2022


U.S. stocks fell on Friday as investors anticipate how much the Federal Reserve will be raising interest rates next Friday. Investors are uncertain whether the Fed will increase rates by half a percentage point or if it will be by three-quarters of a percentage point. The two-year U.S. Treasury note also climbed to its highest rate in over a decade.


The SP 500 went down by 2.91% to close at 3900.86. The Dow Jones Industrial Average fell 2.73% to close at 31392.79. The Nasdaq Composite ticked down 3.52% and closed at 11340.02.

Economic Reports

Consumer price index (monthly) increased in May from 0.3% to 1.0%.


Core CPI (monthly) stayed flat at 0.6% in May.


CPI (year-over-year) went up from 8.3% to 8.6% in May.


Core CPI (year-over-year) dropped in May from 6.2% to 6.0%.


UMich consumer sentiment index (preliminary) declined from 58.4 to 50.2 in June.


5-year inflation expectations climbed to 3.3% in June, compared with 3.0% previously.


Federal budget balance was at -$66 billion in May.


Markets

The SP 500 went down by 2.91% to close at 3900.86. The index is down 5.05% over five days, down 3.06% over one month, down 7.22% over three months and down 18.16% over one year.

The trailing P/E is 21.54 compared to 37.39 one year ago and estimated future P/E 17.65. Dividend yield is currently 1.58 compared with 1.36 one year ago.

Leading stocks were NEM up 3.52%, CAH up 2.12%, HSY up 1.86%, BAX up 1.51% and K up 1.34%.

Trailing stocks were CZR down 9.29%, ILMN down 9.03%, ETSY down 8.70%, ADBE down 7.64% and BKN down 7.59%.


The Dow Jones Industrial Average went down 2.73% to close at 31392.79. The DOW is down 4.58% over five days, down 2.50% over one month, down 4.71% over three months and down 8.95% over one year.

The trailing P/E is 17.88 compared with 29.40 year ago and an estimated future P/E of 16.94. The current dividend yield is 2.22% compared with 1.81 one year ago.

Leading stocks were WMT up 0.56%, VZ down 0.24%, PG down 0.38%, WBA down 0.43% and KO down 0.63%.

Trailing stocks were DOW down 6.06%, GS down 5.65%, BA down 5.03%, CRM down 4.63% and JPM down 4.60%.


The NASDAQ composite went down 3.52% and closed at 11340.02. NASDAQ is down 5.60% over five days, down 3.94% over one month, down 11.71% over 3 months and down 19.40% over one year.

Leading stocks were REDU up 138.46%, MICS up 60.38%, CCOI up 58.67%, DRTS up 40.20% and RDBX up 39.39%.

Trailing stocks were ABVC down 47.37%, FULC down 39.18%, AXLA down 27.01%, GMVD down 26.57%, and BJDX down 24.54%.


The MidCap SP400 went down by 2.65% to close at 2403.07. The SP400 is down 4.68% for the past 5 days, down 1.14% for the past month, down 6.52% for the past 3 months and down 12.68% over the past year.


The SmallCap SP600 went down by 2.49% to close at 1189.63. The SP600 is down 4.33% for the past 5 days, up 0.33% for the past month, down 7.40% for the past 3 months and down 14.80% over the past year.


The CBOE VIX is up by 6.36% and closed at 27.75. The VIX is up 11.94% over five days, down 3.88% over one month, down 9.76% over three months and up 77.32% over one year.


On the New York stock exchange 521 stocks advanced and 2768 declined, while on Nasdaq 939 advanced and 3790 declined.

There were 4 new 52 week highs and 251 new 52 week lows on NYSE with 23 new highs and 470 new lows on NASDAQ.


The 2 year Treasury note v and 10 year is 3.037%. The 10-year yield is up 9.7% over five days, up 11.9% over one month, up 103.9% three months ago, and up 158.4% one year ago.


SP500 Sector Performance % Change:

Consumer Staples -0.37

Utilities -0.77

Health Care -1.63

Energy -1.70

Real Estate -2.40

Communication Services -2.85

Industrials -2.96

Materials -3.05

Financials -3.65

Information Technology -3.89

Consumer Discretionary -4.16

Consumer Staples has been down 2.61% over five days, down 7.17% over one month, down 0.01% over three months and up 2.35% over one year.


Consumer Discretionary has been down 6.07% over five days, down 5.02% over one month, down 14.28% over three months and down 18.79% over one year.


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