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SWS Market Update - U.S. stocks climbed Friday after retail sales report


The major U.S. indexes rallied on Friday after retail sales reports showed sales increased higher than predicted in June. The markets had a turbulent week as investors were concerned with inflation reaching a forty year high as well as new data showing discouraging quarterly results from the largest U.S. banks.



Despite Friday’s rally, all three benchmarks closed the week with losses. The S&P 500 climbed 1.92% to close at 3863.16 on Friday and was down 0.9% for the week. The Dow Jones Industrial Average gained 2.15% to close at 31288.26 on Friday and was down 0.2% for the week. The Nasdaq Composite climbed 1.8% on Friday to close at 11452.42 and slipped 1.6% for the week.


Economic Reports

Retail sales increased in June from -0.1% to 1.0%.


Retail sales excluding vehicles also increased in June from 0.6% to 1.0%.


Import price index went down from 0.5% to 0.2% in June.


Empire state manufacturing index was 11.1 in July, compared with -1.2 previously.


Industrial production index was -0.2% in June.


Capacity utilization dropped slightly to 80.0%, down from 80.3%.


UMich consumer sentiment index (preliminary) climbed to 51.1 in July, up from 50.0 previously.


UMich 5-year inflation expectations came down in July from 3.1% to 2.8%.


Business inventories were at 1.4% in May.


Markets

The SP 500 went up by 1.92% to close at 3863.16. The index is down 0.93% over five days, up 5.12% over one month, down 12.05% over three months and down 10.72% over one year.

The trailing P/E is 20.57 compared to 36.60 one year ago and estimated future P/E 16.43. Dividend yield is currently 1.68 compared with 1.35 one year ago.

Leading stocks were C up 13.23%, STT up 9.74%, NFLX up 8.20%, PENN up 8.20% and BK up 7.34%.

Trailing stocks were CEG down 3.90%, STZ down 2.56%, KHC down 1.93%, NEE down 1.77% and DG down 1.70%.


The Dow Jones Industrial Average went up 2.15% to close at 31288.26. The DOW is down 0.16% over five days, up 4.68% over one month, down 9.18% over three months and down 9.80% over one year.

The trailing P/E is 17.96 compared with 26.37 year ago and an estimated future P/E of 16.30. The current dividend yield is 2.23% compared with 1.81 one year ago.

Leading stocks were UNH up 5.44%, JPM up 4.58%, AXP up 4.40%, GS up 4.36% and CRM up 3.94%.

Trailing stocks were PG down 0.14%, TRV up 0.32%, BA up 0.40%, KO up 0.51% and IBM up 0.62%.


The NASDAQ composite went up 1.79% and closed at 11452.42. NASDAQ is down 1.57% over five days, up 6.06% over one month, down 14.22% over 3 months and down 20.62% over one year.

Leading stocks were USEA up 175.91%, ITHX up 40.60%, NYMX up 38.89%, VIGL up 31.56% and CETX up 30.71%.

Trailing stocks were CDXS down 44.74%, CGRN down 33.54%, BIMI down 28.94%, SWVL down 27.81%, and COMS down 22.37%.


The MidCap SP400 went up by 1.93% to close at 2260.03. The SP400 is down 0.72% for the past 5 days, up 3.75% for the past month, down 12.36% for the past 3 months and down 11.97% over the past year.


The SmallCap SP600 went up by 2.10% to close at 1137.14. The SP600 is down 0.59% for the past 5 days, up 3.84% for the past month, down 11.46% for the past 3 months and down 12.36% over the past year.


The CBOE VIX is down by 8.22% and closed at 24.23. The VIX is down 1.66% over five days, down 22.17% over one month, up 6.74% over three months and up 31.33% over one year.


On the New York stock exchange 2653 stocks advanced and 571 declined, while on Nasdaq 3217 advanced and 1350 declined.

There were 9 new 52 week highs and 90 new 52 week lows on NYSE with 38 new highs and 168 new lows on NASDAQ.


The 2 year Treasury note is 3.12% and the 10 year is 2.919%. The 10-year yield is down 16.5% over five days, down 31.7% over one month, up 8.9% three months ago, and up 162.5% one year ago.


SP500 Sector Performance % Change:

Financials +3.51

Health Care +2.45

Communication Services +2.17

Energy +1.90

Information Technology +1.76

Consumer Discretionary +1.71

Real Estate +1.70

Materials +1.62

Industrials +1.58

Consumer Staples +0.40

Utilities +0.20


Financials has been down 0.90% over five days, up 5.75% over one month, down 11.57% over three months and down 14.59% over one year.


Utilities has been down 0.10% over five days, up 8.34% over one month, down 8.29% over three months and up 5.20% over one year.



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