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SWS Market Update - March 17, 2022


The major U.S. stock indexes all closed with gains for the third straight day on Thursday. The S&P 500 climbed by 1.23% to close at 4411.67 and all eleven sectors of the S&P 500 noted gains. The Dow Jones Industrial Average went up by 1.23% to close at 34480.76 and the Nasdaq Composite gained 1.33% to close at 13614.78.


Economic Reports

Initial jobless claims for the week ending March 12 were 214,000, down from 229,000 the previous week.


Continuing jobless claims for the week ending March 5 were reported at 1.42 million, in comparison to 1.49 million.


Building permits (SAAR) dropped in February from 1.90 million to 1.86 million.


Housing starts (SAAR) increased in February to 1.77 million, up from 1.66 million the month before.


Philadelphia Fed manufacturing survey reported an increase in March from 16.0 to 27.4. Economists had predicted it to be 15.0.


Industrial production index decreased in February from 1.4% to 0.6%.


Capacity utilization rate saw a slight increase from 77.3% to 77.6%.


Markets

The SP 500 is up by 1.23% to close at 4411.67. The index is up 3.57% over five days, up 0.72% over one month, down 5.50% over three months and up 12.67% over one year.

The trailing P/E is 23.68 compared to 44.63 one year ago and estimated future P/E 18.85. Dividend yield is currently 1.44 compared with 1.49 one year ago.

Leading stocks were DVN up 9.65%, OXY up 9.47%, APA up 7.00%, MRO up 6.86% and FANG up 6.57%.

Trailing stocks were SEDG down 5.85%, HPQ down 3.69%, AMD down 3.19%, EPAM down 3.03% and BKNG down 1.88%.


The Dow Jones Industrial Average went up 1.23% to close at 34480.76. The DOW is up 3.94% over five days, up 0.49% over one month, down 3.95% over three months and up 4.92% over one year.

The trailing P/E is 19.15 compared with 33.44 year ago and an estimated future P/E of 17.43. The current dividend yield is 2.05% compared with 1.81 one year ago.

Leading stocks were DOW up 5.37%, AXP up 3.52%, CAT up 2.60%, CRM up 2.35% and AMGN up 1.81%.

Trailing stocks were MCD down 0.28%, VZ down 0.25%, WMT up 0.15%, WBA up 0.21% and MSFT up 0.28%.


The NASDAQ composite went up 1.33% and closed at 13614.78. NASDAQ is up 3.69% over five days, down 0.74% over one month, down 10.31% over 3 months and up 3.80% over one year.

Leading stocks were PIK up 158.15%, CUEN up 54.55%, MBII up 49.70%, TCBP up 45.01% and EIGR up 40.25%.

Trailing stocks were MDJH down 25.36%, APCX down 16.00%, BILI down 14.34%, PRFX down 14.17%, and IXHL down 13.19%.


The MidCap SP400 went up by 0.99% to close at 2684.30. The SP400 is up 3.39% for the past 5 days, up 1.49% for the past month, down 1.73% for the past 3 months and up 2.72% over the past year.

Leading stocks were CRNC up 9.08%, STLD up 8.07% and ARWR up 6.79%.

Trailing stocks were VC down 3.87%, ONB down 3.49% and TCBI down 3.01%


The SmallCap SP600 is up by 1.22% to close at 1331.05. The SP600 is up 2.42% for the past 5 days, up 2.04% for the past month, down 0.73% for the past 3 months and down 1.46% over the past year.

Leading stocks were NBRWF up 20.59%, NKTR up 19.65% and AVAV up 14.72%.

Trailing stocks were AMBC down 9.91%, CATO down 8.03% and WDFC down 3.30%.


The CBOE VIX is down by 3.75% and closed at 25.67. The VIX is down 15.08% over five days, down 8.68% over one month, up 24.79% over three months and up 18.95% over one year.


On the New York stock exchange 2624 stocks advanced and 719 declined, while on Nasdaq 3503 advanced and 1196 declined.

There were 52 new 52 week highs and 67 new 52 week lows on NYSE with 57 new highs and 114 new lows on NASDAQ.


The 2 year Treasury note yield is 1.922% and 10 year is 2.177%. The 10-year yield is up 18.3% over five days, up 21.3% over one month, up 76.0% three months ago, and up 46.5% one year ago.


SP500 Sector Performance % Change:

Energy +3.48

Materials +1.95

Consumer Discretionary +1.86

Health Care +1.61

Real Estate +1.36

Industrials +1.34

Financials +1.23

Communication Services +0.93

Information Technology +0.69

Consumer Staples +0.59

Utilities +0.46

Energy has been down 4.48% over five days, up 7.78% over one month, up 33.78% over three months and up 51.13% over one year.

Utilities has been up 1.05% over five days, up 7.29% over one month, up 0.51% over three months and up 15.20% over one year.



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