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SWS Market Update: Markets finish higher Thursday


The major U.S. stock indexes climbed on Thursday as investors anticipate Federal Reserve Chairman Jerome Powell’s address on Friday. Investors are watching for how aggressively the Federal Reserve will continue to combat inflation. Economic reports today also showed that the U.S. economy dropped by 0.6% in the second quarter.


The S&P 500 increased 1.41% to close at 4199.12 on Thursday. All 11 sectors of the S&P 500 experienced gains today. The Dow Jones Industrial Average went up by 0.98% to 33291.78 and the Nasdaq Composite climbed 1.67% to close at 12639.27.


Economic Reports

Initial jobless claims for the week ending August 20 dropped from 245,000 to 243,000.


Continuing jobless claims for the week ending August 13 also reported a drop from 1.43 million to 1.42 million.


Real gross domestic product, revision (SAAR) was -0.6% in the second quarter, compared with -0.9% previously.


Real gross domestic income (SAAR) reported a decrease in the second quarter from 1.8% to 1.4%.


Real final sales to domestic purchasers, revision (SAAR) was -0.2% in quarter two.


Markets

The SP 500 went up by 1.41% to close at 4199.12. The index is down 1.98% over five days, up 3.11% over one month, up 3.48% over three months and down 6.06% over one year.

The trailing P/E is 23.18 compared to 31.20 one year ago and estimated future P/E 18.38. Dividend yield is currently 1.54 compared with 1.34 one year ago.

Leading stocks were NTAP up 7.88%, ON up 6.50%, FCX up 6.10%, DISH up 6.06% and RCL up 5.20%.

Trailing stocks were DLTR down 10.22%, CRM down 3.39%, TAP down 1.68%, BALL down 1.32% and BMY down 1.27%.


The Dow Jones Industrial Average went up 0.98% to close at 33291.78. The DOW is down 2.08% over five days, up 2.34% over one month, up 2.01% over three months and down 5.46% over one year.

The trailing P/E is 19.60 compared with 23.69 year ago and an estimated future P/E of 18.05. The current dividend yield is 2.11% compared with 1.79 one year ago.

Leading stocks were BA up 3.53%, INTL up 3.04%, DOW up 2.80%, CAT up 2.43% and JPM up 2.37%.

Trailing stocks were CRM down 3.39%, PG down 0.08%, WBA up 0.08%, MRK up 0.29% and TRV up 0.29%.


The NASDAQ composite went up 1.67% and closed at 12639.27. NASDAQ is down 2.51% over five days, up 3.92% over one month, up 7.65% over 3 months and down 15.43% over one year.

Leading stocks were KPRX up 95.31%, DRUG up 45.96%, VIVK up 42.29%, GSUN up 38.21% and VACC up 34.84%.

Trailing stocks were MEGL down 29.06%, GOVX down 22.49%, AKLI down 20.00%, SPCB down 19.49%, and BTB down 19.24%.


The MidCap SP400 went up by 1.66% to close at 2576.46. The SP400 is down 1.66% for the past 5 days, up 3.85% for the past month, up 3.76% for the past 3 months and down 5.16% over the past year.


The SmallCap SP600 went up by 1.92% to close at 1266.00. The SP600 is down 1.95% for the past 5 days, up 2.96% for the past month, up 3.71% for the past 3 months and down 5.23% over the past year.


The CBOE VIX is down by 4.56% and closed at 21.78. The VIX is up 11.35% over five days, down 2.46% over one month, down 20.80% over three months and up 15.61% over one year.


On the New York stock exchange 2550 stocks advanced and 662 declined, while on Nasdaq 3149 advanced and 1504 declined.

There were 43 new 52 week highs and 34 new 52 week lows on NYSE with 53 new highs and 99 new lows on NASDAQ.


The 2 year Treasury note is 3.392% and the 10 year is 3.029%. The 10-year yield is up 14.6% over five days, up 35.3% over one month, up 28.5% three months ago, and up 167.2% one year ago.


SP500 Sector Performance % Change:


Materials +2.26

Communication Services +2.06

Information Technology +1.68

Real Estate +1.56

Financials +1.52

Industrials +1.52

Consumer Discretionary +1.29

Health Care +1.10

Energy +0.76

Utilities +0.59

Consumer Staples +0.46

Materials has been up 0.02% over five days, up 4.49% over one month, down 5.38% over three months and down 4.77% over one year.

Consumer Staples has been down 1.21% over five days, up 1.63% over one month, up 2.91% over three months and up 6.95% over one year.


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