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SWS Market Update: U.S. stocks drop Friday in anticipation of next Federal Reserve meeting


U.S. stocks fell on Friday as investors anticipate the Federal Reserve’s upcoming September meeting and how aggressively they will continue act to combat inflation. This drop on Friday concluded a four-week winning streak for the S&P 500.


The S&P 500 declined 1.29% to close at 4228.48 and was down 1.2% for the week. The Dow Jones Industrial Average went down 0.86% to close at 33706.74 and slipped 0.2% for the week. The Nasdaq Composite fell 2.01% to 12705.22 and lost 2.6% for the week.


Markets

The SP 500 went down by 1.29% to close at 4228.48. The index is down 1.21% over five days, up 6.74% over one month, up 8.38% over three months and down 4.80% 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 OXY up 9.88%, WBD up 4.09%, DVA up 3.98%, GM up 2.53% and ELV up 2.39%.

Trailing stocks were ETSY down 6.50%, SBNY down 5.80%, CCL down 5.55%, SEDG down 5.32% and LRCX down 5.24%.


The Dow Jones Industrial Average went down 0.86% to close at 33706.74. The DOW is down 0.16% over five days, up 5.67% over one month, up 7.82% over three months and down 4.02% over one year.

The trailing P/E is 19.80 compared with 23.64 year ago and an estimated future P/E of 18.05. The current dividend yield is 2.10% compared with 1.79 one year ago.

Leading stocks were JNJ up 1.52%, MRK up 0.74%, UNH up 0.57%, VZ up 0.52% and AMGN up 0.46%.

Trailing stocks were BA down 3.42%, JPM down 2.47%, NKE down 2.46%, INTL down 2.27% and CRM up 2.21%.


The NASDAQ composite went down 2.01% and closed at 12705.22. NASDAQ is down 2.62% over five days, up 7.36% over one month, up 11.89% over 3 months and down 13.66% over one year.

Leading stocks were AGLE up 80.23%, IPOF up 47.02%, AXSM up 40.35%, LTRY up 31.83% and VLCN up 31.52%.

Trailing stocks were AXDX down 49.40%, DRUG down 42.40%, BBBY down 40.54%, CGRN down 38.83%, and CRXT down 27.19%.


The MidCap SP400 went down by 1.60% to close at 2578.06. The SP400 is down 1.41% for the past 5 days, up 7.57% for the past month, down 8.10% for the past 3 months and down 3.65% over the past year.


The SmallCap SP600 went down by 1.79% to close at 1268.17. The SP600 is down 1.52% for the past 5 days, up 7.00% for the past month, up 8.21% for the past 3 months and down 4.00% over the past year.


The CBOE VIX is up by 5.32% and closed at 20.60. The VIX is up 5.48% over five days, down 10.55% over one month, down 30.00% over three months and up 10.99% over one year.


On the New York stock exchange 468 stocks advanced and 2714 declined, while on Nasdaq 991 advanced and 3573 declined.

There were 26 new 52 week highs and 57 new 52 week lows on NYSE with 46 new highs and 109 new lows on NASDAQ.


The 2 year Treasury note is 3.251% and the 10 year is 2.984%. The 10-year yield is up 14.6% over five days, up 22.5% over one month, up 13.0% three months ago, and up 172.3% one year ago.


SP500 Sector Performance % Change:

Health Care +0.27

Energy +0.02

Utilities -0.05

Consumer Staples -0.35

Real Estate -0.96

Industrials -1.27

Materials -1.81

Communication Services -1.83

Information Technology -1.83

Financials -2.02

Consumer Discretionary -2.10


Health Care has been down 0.57% over five days, up 2.31% over one month, up 2.41% over three months and down 2.36% over one year.


Consumer Discretionary has been down 1.58% over five days, up 8.49% over one month, up 19.87% over three months and down 6.73% over one year.



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