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SWS Market Update - May 24, 2022


After Monday’s rally, the S&P 500 and the Nasdaq Composite fell by market close on Tuesday. Investors concerns over inflation, the economy, and the possibility of recession in combination with the new home sales report showing a drop in home sales in April weighed on the markets today.


The S&P 500 slid 0.81% to 3941.38. The Nasdaq Composite went down 2.35% to 11264.45. The Dow Jones Industrial Average climbed 0.15% to close at 31928.62.


Economic Reports

S&P Global U.S. manufacturing PMI (flash) was 57.5 in May, compared with 59.2 previously.

S&P Global U.S. services PMI (flash) was 53.5 in May in comparison to 55.6 in April.

New home sales (SAAR) dropped from 709,000 to 591,000 in April.


Markets

The SP 500 went down by 0.81% to close at 3941.48. The index is down 3.60% over five days, down 5.60% over one month, down 8.44% over three months and down 5.89% over one year.

The trailing P/E is 20.31 compared to 37.11 one year ago and estimated future P/E 17.15. Dividend yield is currently 1.58 compared with 1.38 one year ago.

Leading stocks were AZO up 5.82%, ORLY up 5.02%, LNT up 3.93%, SBAC up 3.88% and LUMN up 3.76%.

Trailing stocks were NCLH down 11.99%, DXCM down 11.05%, CZR down 10.59%, CCL down 10.30% and RCL down 10.20%.


The Dow Jones Industrial Average went up 0.15% to close at 31928.62. The DOW is down 2.22% over five days, down 3.95% over one month, down 4.96% over three months and down 6.95% over one year.

The trailing P/E is 18.16 compared with 29.34 year ago and an estimated future P/E of 16.53. The current dividend yield is 2.25% compared with 1.75 one year ago.

Leading stocks were MCD up 2.74%, VZ up 2.03%, IBM up 2.01%, KO up 1.85% and PG up 1.78%.

Trailing stocks were DIS down 4.01%, BA down 3.76%, V down 2.38%, AXP down 2.14% and CRM down 2.11%.


The NASDAQ composite went down 2.35% and closed at 11264.45. NASDAQ is down 6.01% over five days, down 9.82% over one month, down 15.82% over 3 months and down 17.52% over one year.

Leading stocks were BTTX up 69.77%, SPRC up 42.86%, America’s Car-Mart Inc up 30.76%, QUBT up 25.48% and APCX up 20.44%.

Trailing stocks were GNCA down 72.69%, MSP Recovery Inc down 53.06%, WKME down 34.43%, TCBP down 34.15%, and LQDA down 28.30%.


The MidCap SP400 went down by 1.22% to close at 2380.40. The SP400 is down 4.38% for the past 5 days, down 5.63% for the past month, down 8.31% for the past 3 months and down 11.82% over the past year.

Leading stocks were HRB up 4.76%, SFM up 4.53% and UTHR up 4.19%.

Trailing stocks were APPS down 13.17%, CROX down 8.92% and GPS down 8.33%


The SmallCap SP600 is down by 1.11% to close at 1171.41. The SP600 is down 4.05% for the past 5 days, down 4.49% for the past month, down 8.42% for the past 3 months and down 12.20% over the past year.

Leading stocks were CRMT up 30.76%, SITC up 6.94% and NBRWF up 6.50%.

Trailing stocks were ANF down 28.58%, CUTR down 19.38% and OSUR down 19.03%.


The CBOE VIX is up by 3.41% and closed at 29.45. The VIX is up 12.84% over five days, down 12.14% over one month, up 2.22% over three months and up 56.32% over one year.


On the New York stock exchange 1463 stocks advanced and 1839 declined, while on Nasdaq 1403 advanced and 3322 declined.

There were 23 new 52 week highs and 282 new 52 week lows on NYSE with 24 new highs and 526 new lows on NASDAQ.


The 2 year Treasury note yield is 2.500% and 10 year is 2.754%. The 10-year yield is down 12.5% over five days, up 2.4% over one month, up 81.0% three months ago, and up 119.6% one year ago.


SP500 Sector Performance % Change:

Utilities +2.01

Consumer Staples +1.66

Real Estate +1.21

Energy +0.41

Health Care +0.25

Industrials -0.12

Financials -0.24

Materials -0.61

Information Technology -1.57

Consumer Discretionary -2.58

Communication Services -3.71

Utilities has been up 3.29% over five days, at 0.00% over one month, up 11.75% over three months and up 12.10% over one year.

Communication Services has been down 4.35% over five days, down 9.37% over one month, down 16.93% over three months and down 25.73% over one year.


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