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SWS Market Update - June 2, 2022


U.S. stocks climbed on Thursday putting the benchmark S&P 500 on the path to finish the week with gains. The S&P 500 gained 1.84% and closed at 4176.82. The Dow Jones Industrial Average went up 1.33% to close at 33248.28 and the Nasdaq Composite increased 2.69% to close at 12316.90.


On the New York stock exchange 2486 stocks advanced and 804 declined, while on Nasdaq 3531 advanced and 1182 declined.


There were 64 new 52 week highs and 38 new 52 week lows on NYSE with 34 new highs and 143 new lows on NASDAQ.


Economic Reports

ADP employment report dropped in May from 202,000 to 128,000. Economists had predicted it would have bee an increase to 299,000.


Initial jobless claims for the week ending May 28 also reported a drop from 211,000 to 200,00.


Continuing jobless claims for the week ending May 21 was 1.31 million, in comparison to 1.34 million previously.


Productivity revision (SAAR) for the first quarter went from -7.5% to -7.3%.


Unit labor costs revision (SAAR) increased in the first quarter from 11.6% to 12.6%.


Factory orders declined in April from 1.8% to 0.3%, lower than economists had predicted at 0.6%.


Core capital goods orders revision went up in April from 0.3% to 0.4%.


Markets

The SP 500 went up by 1.84% to close at 4176.82. The index is up 2.93% over five days, up 0.72% over one month, down 4.28% over three months and down 0.38% over one year.

The trailing P/E is 21.09 compared to 37.24 one year ago and estimated future P/E 17.63. Dividend yield is currently 1.54 compared with 1.38 one year ago.

Leading stocks were GNRC up 10.29%, SEDG up 10.28%, DXCM up 9.86%, ENPH up 9.01% and ETSY up 7.85%.

Trailing stocks were HRL down 5.22%, HPQ down 5.20%, REGN down 4.28%, PARA down 2.84% and LLY down 2.78%.


The Dow Jones Industrial Average went up 1.33% to close at 33248.28. The DOW is up 1.87% over five days, up 0.76% over one month, down 1.62% over three months and down 3.84% over one year.

The trailing P/E is 18.94 compared with 29.48 year ago and an estimated future P/E of 17.13. The current dividend yield is 2.16% compared with 1.77 one year ago.

Leading stocks were BA up 7.54%, CRM up 7.00%, NKE up 3.99%, HD up 2.92% and HON up 2.67%.

Trailing stocks were AMGN down 2.03%, MRK down 1.25%, JNJ down 0.32%, VZ down 0.21% and CVX down 0.18%.


The NASDAQ composite went up 2.69% and closed at 12316.90. NASDAQ is up 4.91% over five days, down 0.01% over one month, down 9.02% over 3 months and down 9.53% over one year.

Leading stocks were NRXP up 47.48%, RPTX up 44.80%, TALK up 34.35%, EBET up 33.58% and IMMX up 29.19%.

Trailing stocks were AGLE down 51.33%, IMUX down 46.78%, ZSAN down 43.18%, CNTA down 27.78%, and CNEY down 27.27%.


The MidCap SP400 went up by 2.21% to close at 2549.84. The SP400 is up 2.69% for the past 5 days, up 1.40% for the past month, down 4.05% for the past 3 months and down 6.08% over the past year.


The SmallCap SP600 is up by 1.91% to close at 1254.98. The SP600 is up 2.81% for the past 5 days, up 2.72% for the past month, down 4.71% for the past 3 months and down 9.14% over the past year.


The CBOE VIX is down by 3.78% and closed at 24.72. The VIX is down 10.11% over five days, down 20.77% over one month, down 18.90% over three months and up 37.03% over one year.


On the New York stock exchange 2486 stocks advanced and 804 declined, while on Nasdaq 3531 advanced and 1182 declined.

There were 64 new 52 week highs and 38 new 52 week lows on NYSE with 34 new highs and 143 new lows on NASDAQ.


The 2 year Treasury note yield is 2.630% and 10 year is 2.912%. The 10-year yield is up 16.7% over five days, down 21.8% over one month, up 118.0% three months ago, and up 135.8% one year ago.


SP500 Sector Performance % Change:

Consumer Discretionary +3.03

Materials +2.68

Communication Services +2.58

Information Technology +2.44

Industrials +1.89

Real Estate +1.47

Financials +1.41

Consumer Staples +1.37

Health Care +0.78

Utilities +0.60

Energy -0.30

Consumer Discretionary has been up 11.60% over five days, down 6.55% over one month, down 11.95% over three months and down 9.93% over one year.

Energy has been up 2.61% over five days, up 7.43% over one month, up 20.84% over three months and up 61.96% over one year.



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