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SWS Market Update - U.S. stocks down for four of the last five weeks


U.S. stocks continued their decline on Friday as major corporations such as Goldman Sachs, General Electric and FedEx issued warnings this week, increasing investors fear of a recession. FedEx stated that there is decreasing decline and is closing offices as a result. Goldman Sachs Group is ready to eliminate jobs and General Electric said profits are being affected by the ongoing supply-chain issues.


The S&P 500 fell by 0.72% to close at 3873.33 on Friday and was down 4.8% for the week. The Dow Jones Industrial Average dropped 0.45% to 30822.42 and was down 4.1% for the week. The Nasdaq Composite lost 0.90% to close at 11448.40 on Friday and lost 5.5% for the week.


Economic Reports

UMich consumer sentiment index increased from 58.2 to 59.5 in September.


UMich 5-year consumer inflation expectations dropped by 0.1% to 2.8% in September.


Markets

The SP 500 went down by 0.72% to close at 3873.33. The index is down 4.77% over five days, down 8.40% over one month, up 5.40% over three months and down 12.62% over one year.

The trailing P/E is 21.49 compared to 31.25 one year ago and estimated future P/E 17.48. Dividend yield is currently 1.66 compared with 1.32 one year ago.

Leading stocks were IRN up 3.35%, NEM up 3.09%, DLTR up 2.89%, LEN up 2.67% and DHI up 2.15%.

Trailing stocks were FDX down 421.40%, WRK down 11.48%, IP down 11.21%, PKG down 11.01% and CTRA down 6.60%.


The Dow Jones Industrial Average went down 0.45% to close at 30822.42. The DOW is down 4.13% over five days, down 8.56% over one month, up 3.12% over three months and down 10.88% over one year.

The trailing P/E is 18.15 compared with 23.51 year ago and an estimated future P/E of 16.64. The current dividend yield is 2.31% compared with 1.85 one year ago.

Leading stocks were HD up 1.63%, AMGN up 1.53%, JNJ up 1.53%, IBM up 1.42% and INTL up 1.39%.

Trailing stocks were BA down 3.67%, CVX down 2.60%, DIS down 2.27%, CRM down 2.11% and AXP down 1.95%.


The NASDAQ composite went down 0.90% and closed at 11448.40. NASDAQ is down 5.48% over five days, down 9.89% over one month, up 6.02% over 3 months and down 23.90% over one year.

Leading stocks were PBLA up 53.03%, AAOI up 50.40%, AXLA up 29.57%, ANIX up 27.46% and IPHA up 20.87%.

Trailing stocks were ADTX down 58.52%, GMBL down 46.15%, SHPH down 45.94%, NBRV down 42.79%, and SJ down 38.60%.


The MidCap SP400 went down by 1.35% to close at 2380.28. The SP400 is down 4.71% for the past 5 days, down 7.67% for the past month, up 7.20% for the past 3 months and down 11.12% over the past year.


The SmallCap SP600 went down by 0.65% to close at 1144.98. The SP600 is down 4.08% for the past 5 days, down 9.71% for the past month, up 4.55% for the past 3 months and down 14.00% over the past year.


The CBOE VIX went up 0.11% and closed at 26.30. The VIX is up 15.40% over five days, up 27.67% over one month, down 15.52% over three months and up 26.38% over one year.


On the New York stock exchange 862 stocks advanced and 2349 declined, while on Nasdaq 1419 advanced and 3198 declined.

There were 13 new 52 week highs and 362 new 52 week lows on NYSE with 26 new highs and 485 new lows on NASDAQ.


The 2 year Treasury note is 3.867% and the 10 year is 3.453%. The 10-year yield is up 13.9% over five days, up 48.0% over one month, up 21.7% three months ago, and up 208.2% one year ago.


SP500 Sector Performance % Change:


Consumer Staples +0.25

Real Estate +0.03

Health Care -0.27

Utilities -0.37

Information Technology -0.48

Communication Services -0.59

Consumer Discretionary -0.84

Financials -0.97

Materials -1.56

Industrials -2.06

Energy -2.17

Consumer Staples has been down 3.63% over five days, down 7.31% over one month, up 4.01% over three months and up 0.30% over one year.


Energy has been down 2.60% over five days, down 1.22% over one month, up 7.31% over three months and down 61.49% over one year.


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