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SWS Market Update - March 3, 2022


The major U.S. stock indexes ticked down on Thursday. The S&P 500 went down by 0.53% to close at 4363.49. The Dow Jones Industrial Average dropped 0.29% to close at 33794.66 and the tech-heavy Nasdaq Composite fell 1.56% to close at 13537.94.


Economic Reports

Initial jobless claims went down for the week ending February 26 from 233,000 to 215,000.


Continuing jobless claims for the week ending February 19 increased by one hundred thousand to 1.48 million.


Productivity revision (SAAR) for the fourth quarter remained at 6.6%.


Unit labor costs revision (SAAR) for the fourth quarter increased from 0.3% to 0.9%, much higher than economists had predicted at 0.3%.


Markit services PMI (final) was 56.5 for February, compared with 56.7 the month prior.


ISM services index dropped from 59.9% to 56.5% in February.


Factory orders saw an increase in January climbing from 0.7% to 1.4%.


Core capital equipment orders (revision) was at 1.0% in January.


Markets

The SP 500 is down by 0.53% to close at 4363.49. The index is up 1.74% over five days, down 2.55% over one month, down 4.67% over three months and up 15.79% over one year.

The trailing P/E is 23.83 compared to 43.74 one year ago and estimated future P/E 19.49. Dividend yield is currently 1.41 compared with 1.50 one year ago.

Leading stocks were KR up 11.61%, BBY up 9.22%, BF-B up 7.08%, DLTR up 4.69% and LUMN up 3.77%.

Trailing stocks were EPAM down 13.13%, IPGP down 9.08%, MTCH down 5.71%, AMD down 5.33% and DRI down 5.22%.


The Dow Jones Industrial Average went down 0.29% to close at 33794.66. The DOW is up 1.72% over five days, down 3.75% over one month, down 2.44% over three months and up 9.28% over one year.

The trailing P/E is 18.77 compared with 31.46 year ago and an estimated future P/E of 17.90. The current dividend yield is 2.07% compared with 1.92 one year ago.

Leading stocks were WMT up 2.30%, AMGN up 1.77%, IBM up 1.67%, JNJ up 1.47% and CVX up 1.35%.

Trailing stocks were BA down 4.53%, CRM up 2.68%, INTL down 1.92%, MCD down 1.78% and MSFT down 1.42%.


The NASDAQ composite went down 1.56% and closed at 13537.94. NASDAQ is up 0.48% over five days, down 2.46% over one month, down 11.98% over 3 months and up 6.40% over one year.

Leading stocks were DBVT up 34.62%, TNXP up 33.07%, APCX up 28.04%, RMNI up 26.27% and CISO up 24.24%.

Trailing stocks were NCNA down 59.18%, VEON down 41.19%, GRAB down 37.28%, INVE down 26.69%, and TSP down 21.92%.


The MidCap SP400 went down by 0.83% to close at 2657.44. The SP400 is up 2.65% for the past 5 days, up 1.47% for the past month, down 2.92% for the past 3 months and up 8.32% over the past year.

Leading stocks were CLF up 7.58%, SFM up 7.38% and X up 6.90%.

Trailing stocks were BJ down 13.22%, AEO down 9.33% and ADNT down 9.19%


The SmallCap SP600 is down by 0.71% to close at 1316.98. The SP600 is up 2.72% for the past 5 days, up 2.61% for the past month, down 3.16% for the past 3 months and up 3.51% over the past year.

Leading stocks were ZEUS up 9.29%, AAN up 7.08% and SPTN up 6.83%.

Trailing stocks were CNSL down 21.53%, CPS down 12.57% and CELH down 11.14%.


The CBOE VIX is down by 0.85% and closed at 30.48. The VIX is up 0.53% over five days, up 25.17% over one month, up 9.05% over three months and up 6.69% over one year.


On the New York stock exchange 1386 stocks advanced and 1919 declined, while on Nasdaq 1514 advanced and 3183 declined.

There were 104 new 52 week highs and 126 new 52 week lows on NYSE with 59 new highs and 315 new lows on NASDAQ.


The 2 year Treasury note yield is 1.452% and 10 year is 1.757%. The 10-year yield is down 2.14% over five days, down 15.8% over one month, up 28.83% three months ago, and up 11.31% one year ago.


SP500 Sector Performance % Change:

Utilities +1.72

Real Estate +1.10

Consumer Staples +0.72

Health Care +0.49

Energy +0.27

Materials +0.12

Industrials +0.08

Financials -0.30

Communication Services -0.78

Information Technology -1.24

Consumer Discretionary -2.29

Utilities has been up 5.75% over five days, down 0.01% over one month, up 4.00% over three months and up 18.12% over one year.

Consumer Discretionary has been up 0.73% over five days, down 2.32% over one month, down 14.52% over three months and up 9.80% over one year.



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