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SWS Market Update - Major indexes having worst year since 2002


The major U.S. stocks finished lower on Friday and were down for the week. The benchmark indexes have experienced their worst year in twenty years as investors are dealing with record inflation and the rising interest rates that are attempting to combat it. The Dow Jones Industrial Average dropped into a bear market on Monday and closed out the week down 21% for the year. The S&P 500 is down 25% in 2022 and the Nasdaq Composite is down 32% for the year.

On Friday, the S&P 500 went down by 1.51% to close at 3585.62. The Dow Jones Industrial Average shed 1.71% to close 28725.51 and the Nasdaq Composite lost 1.51% and closed at 10575.62.

Economic Reports

PCE price index was at 0.3% in August, up from -0.1% previously.

Core PCE price index was at 0.6% in August.

PCE price index (year-on-year) dropped slightly from 6.4% to 6.2% in August.

Core PCE price index (year-on-year) increased to 4.9% in August, higher than economists had predicted at 4.7%.

Real consumer spending was at 0.1%, compared with -0.1% previously.

Real disposable incomes in August were 0.1%, down from 0.5% the month before.

Chicago PMI was reported at 45.7 in September, lower than 52.2 previously.

UMich consumer sentiment index (final) was at 58.6 in August.

UMich 5-year expected inflation (final) dropped from 2.8% to 2.7%.


Markets

The SP 500 went down by 1.51% to close at 3585.62. The index is down 2.91% over five days, down 8.63% over one month, down 6.27% over three months and down 17.71% over one year.

The trailing P/E is 17.85 compared to 30.04 one year ago and estimated future P/E 16.35. Dividend yield is currently 1.81 compared with 1.38 one year ago.

Leading stocks were CRL up 3.57%, WY up 2.92%, EFX up 2.59%, TWTR up 2.57% and VTR up 2.47%.

Trailing stocks were CCL down 23.25%, NCLH down 18.04%, RCL down 13.15%, NKE down 12.81% and ABBV down 5.96%.


The Dow Jones Industrial Average went down 1.71% to close 28725.51. The DOW is down 2.92% over five days, down 8.28% over one month, down 7.63% over three months and down 16.32% over one year.

The trailing P/E is 16.93 compared with 23.31 year ago and an estimated future P/E of 15.62. The current dividend yield is 2.48% compared with 1.86 one year ago.

Leading stocks were WBA down 0.48%, DOW down 0.52%, MRK down 0.60%, JNJ down 0.71% and UNH down 0.74%.

Trailing stocks were NKE down 12.81%, BA down 3.39%, DIS down 3.20%, AAPL down 3.00% and IBM down 2.32%.


The NASDAQ composite went down 1.51% and closed at 10575.62. NASDAQ is down 2.69% over five days, down 9.07% over one month, down 4.96% over 3 months and down 27.40% over one year.

Leading stocks were FNGR up 82.16%, SAI up 43.36%, ATXI up 39.03%, SOBR up 38.86% and AIMD up 36.96%.

Trailing stocks were AMV down 39.91%, ATER down 37.06%, EDSA down 35.12%, AVCT down 32.42%, and AEHL down 32.00%.


The MidCap SP400 went down by 0.68% to close at 2203.53. The SP400 is down 1.60% for the past 5 days, down 7.92% for the past month, down 4.02% for the past 3 months and down 17.89% over the past year.


The SmallCap SP600 went down by 0.69% to close at 1064.95. The SP600 is down 1.48% for the past 5 days, down 8.34% for the past month, down 6.46% for the past 3 months and down 21.54% over the past year.


The CBOE VIX went down 0.65% and closed at 31.62. The VIX is up 5.68% over five days, up 24.15% over one month, up 18.43% over three months and up 49.50% over one year.


On the New York stock exchange 1388 stocks advanced and 1822 declined, while on Nasdaq 1955 advanced and 2745 declined.

There were 5 new 52 week highs and 485 new 52 week lows on NYSE with 39 new highs and 588 new lows on NASDAQ.


The 2 year Treasury note is 4.279% and the 10 year is 3.829%. The 10-year yield is down 9.0% over five days, up 63.0% over one month, up 93.5% three months ago, and up 234.7% one year ago.


SP500 Sector Performance % Change:

Real Estate +0.99

Materials -0.35

Energy -0.90

Financials -1.10

Industrials -1.31

Health Care -1.40

Communication Services -1.66

Consumer Staples -1.79

Consumer Discretionary -1.83

Information Technology -1.94

Utilities -1.97

Real Estate has been down 5.20% over five days, down 13.95% over one month, down 11.66% over three months and down 18.75% over one year.

Utilities has been down 9.89% over five days, down 12.78% over one month, down 6.71% over three months and up 2.45% over one year.


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