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SWS Market Update - June 24, 2022


The University of Michigan’s report on inflation expectations for the next 5-10 years dropped in June from 3.3% to 3.1%. Investors were encouraged by this report and the markets reflected this optimism on Friday. The major U.S. stocks closed with gains, ending a three-week losing streak.

The S&P 500 went up by 3.06% to close at 3911.74. The Dow Jones Industrial Average gained 2.68% to close at 31500.68, its largest single day gain in over two years. The Nasdaq Composite increased 3.34% to close at 11607.62.


Economic Reports

UMich consumer sentiment index (final) went from 50.2 to 50.0 in June.


5-year inflation expectations (final) dropped slightly from 3.3% to 3.1% in June.


New home sales (SAAR) increased in May to 696,000, compared with 629,000 previously.


Markets

The SP 500 went up by 3.06% to close at 3911.74. The index is up 6.45% over five days, down 5.93% over one month, down 13.90% over three months and down 8.62% over one year.

The trailing P/E is 20.43 compared to 37.26 one year ago and estimated future P/E 16.95. Dividend yield is currently 1.68 compared with 1.35 one year ago.

Leading stocks were RCL up 15.77%, NCLH up 15.36%, PENN up 12.66%, CZR up 12.53% and CCL up 12.44%.

Trailing stocks were VZ down 2.17%, CTXS down 1.86%, SEDG down 1.78%, DVN down 1.77% and WMB down 1.18%.


The Dow Jones Industrial Average went up 2.68% to close at 31500.68. The DOW is up 5.39% over five days, down 5.16% over one month, down 9.64% over three months and down 8.52% over one year.

The trailing P/E is 17.94 compared with 29.36 year ago and an estimated future P/E of 16.42. The current dividend yield is 2.21% compared with 1.82 one year ago.

Leading stocks were CRM up 7.44%, GS up 5.79%, BA up 5.64%, NKE up 4.55% and V up 4.51%.

Trailing stocks were VZ down 2.17%, UNH down 0.83%, WMT up 0.08%, AMGN up 0.94% and MRK up 1.23%.


The NASDAQ composite went up 3.34% and closed at 11607.62. NASDAQ is up 7.49% over five days, down 4.32% over one month, down 18.08% over 3 months and down 19.17% over one year.

Leading stocks were USAK up 112.62%, BNTC up 64.86%, TBLT up 55.17%, IDAI up 38.06% and SERA up 34.62%.

Trailing stocks were TENX down 46.86%, PBLA down 42.80%, MMAT down 38.74%, QTNT down 35.00%, and IFRX down 33.81%.


The MidCap SP400 went up by 3.55% to close at 2334.40. The SP400 is up 5.13% for the past 5 days, down 8.09% for the past month, down 13.94% for the past 3 months and down 14.38% over the past year.


The SmallCap SP600 went up by 3.10% to close at 1152.32. The SP600 is up 5.22% for the past 5 days, up 7.74% for the past month, down 13.43% for the past 3 months and down 17.03% over the past year.


The CBOE VIX is down by 6.27% and closed at 27.23. The VIX is down 12.53% over five days, up 5.87% over one month, up 30.85% over three months and up 74.33% over one year.


On the New York stock exchange 2669 stocks advanced and 563 declined, while on Nasdaq 3099 advanced and 1478 declined.

There were 10 new 52 week highs and 68 new 52 week lows on NYSE with 33 new highs and 148 new lows on NASDAQ.


The 2 year Treasury note is 3.076% and the 10 year is 3.136%. The 10-year yield is down 10.0% over five days, up 39.1% over one month, up 162.2% three months ago, and up 160.8% one year ago.


SP500 Sector Performance % Change:

Materials +3.98

Communication Services +3.94

Financials +3.80

Consumer Discretionary +3.74

Information Technology +3.57

Industrials +3.49

Real Estate +2.06

Consumer Staples +1.86

Utilities +1.76

Health Care +1.63

Energy +1.54


Materials has been up 2.68% over five days, down 12.13% over one month, down 14.23% over three months and down 6.73% over one year.


Energy has been down 1.55% over five days, down 18.24% over one month, down 9.03% over three months and up 30.86% over one year.


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