Equities

S&P 500 Reaches New All-Time High, Led By Technology And Telecoms

Financials underperformed despite higher rates as JPM's Dimon said at an industry conference that "the banking system is going to be really in tough shape", talking about the challenges brought about by fintech and big tech competitors

Published ET

S&P 100 Market Caps | Sources: ϕpost, FactSet data

S&P 100 Market Caps | Sources: ϕpost, FactSet data

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QUICK SUMMARY

  • Daily performance of US indices: S&P 500 up 0.18%; Nasdaq Composite up 0.74%; Wilshire 5000 up 0.13%
  • 37.6% of S&P 500 stocks were up today, with 91.5% of stocks above their 200-day moving average (DMA) and 62.4% above their 50-DMA
  • The volume of S&P 500 shares traded today was 1.9m (3-month z-score: -0.9); the 3-month average volume is 2.2m and the 12-month range is 0.8 - 5.1m
  • Top performing sectors: technology up 1.04% and telecoms up 0.74%
  • Bottom performing sectors: materials down -1.28% and financials down -1.03%
  • The S&P 500 Value Index was down -0.5%, while the S&P 500 Growth Index was up 0.8%; the S&P small caps index was down -0.6% and mid caps were down -0.9%
  • Daily performance of international indices: Europe Stoxx 600 up 0.18%; China CSI 300 down -1.39%; Japan up 0.46%; UK FTSE 100 up 0.18%

VOLATILITY

  • 1-month at-the-money implied volatility on the S&P 500 at 11.0%, up from 10.6%
  • 1-month at-the-money implied volatility on the Europe Stoxx 600 at 10.8%, down from 11.1%
Sources: ϕpost, Refinitiv dataSources: ϕpost, Refinitiv dataSources: ϕpost, Refinitiv data

TOP WINNERS

  • Rapt Therapeutics Inc (RAPT), up 115.5% to $40.02 / YTD price return: +102.6% / 12-Month Price Range: $ 14.63-41.86 / Short interest (% of float): 5.5%
  • Anavex Life Sciences Corp (AVXL), up 35.4% to $20.99 / YTD price return: +288.7% / 12-Month Price Range: $ 3.61-28.70 / Short interest (% of float): 9.7%; days to cover: 8.6
  • TuSimple Holdings Inc (TSP), up 19.0% to $59.36 / 12-Month Price Range: $ 32.13-50.00 / Short interest (% of float): 4.6%; days to cover: 6.3
  • Canaan Inc (CAN), up 18.1% to $10.30 / YTD price return: +73.7% / 12-Month Price Range: $ 1.76-39.10 / Short interest (% of float): 6.7%; days to cover: 1.1
  • Petco Health and Wellness Company Inc (WOOF), up 17.9% to $28.05 / 12-Month Price Range: $ 17.86-31.08
  • Microstrategy Inc (MSTR), up 15.9% to $598.49 / YTD price return: +54.0% / 12-Month Price Range: $ 113.55-1,315.00
  • AMC Entertainment Holdings Inc (AMC), up 15.4% to $57.00 / YTD price return: +2,588.7% / 12-Month Price Range: $ 1.91-72.62 / Short interest (% of float): 20.5%; days to cover: 0.8
  • Centessa Pharmaceuticals PLC (CNTA), up 15.2% to $25.00 / 12-Month Price Range: $ 20.00-25.82
  • Riot Blockchain Inc (RIOT), up 14.1% to $35.40 / YTD price return: +108.4% / 12-Month Price Range: $ 2.04-79.50 / Short interest (% of float): 34.6%; days to cover: 1.0
  • Marathon Digital Holdings Inc (MARA), up 12.8% to $29.94 / YTD price return: +186.8% / 12-Month Price Range: $ .84-57.75 / Short interest (% of float): 16.7%; days to cover: 0.7

BIGGEST LOSERS

  • Bioatla Inc (BCAB), down 19.8% to $39.92 / YTD price return: +17.4% / 12-Month Price Range: $ 27.15-76.63 / Short interest (% of float): 14.9%; days to cover: 24.8 (the stock is currently on the short sale restriction list)
  • Lordstown Motors Corp (RIDE), down 18.8% to $9.26 / YTD price return: -53.8% / 12-Month Price Range: $ 6.69-31.80 / Short interest (% of float): 31.1%; days to cover: 3.5 (the stock is currently on the short sale restriction list)
  • John Wiley & Sons Inc (JWb), down 12.4% to $56.19 / 12-Month Price Range: $ 30.79-65.63 / Short interest days to cover: 0.8 (the stock is currently on the short sale restriction list)
  • MGP Ingredients Inc (MGPI), down 11.8% to $66.32 / YTD price return: +40.9% / 12-Month Price Range: $ 32.79-76.68 / Short interest (% of float): 20.9%; days to cover: 21.4 (the stock is currently on the short sale restriction list)
  • Uphealth Inc (UPH), down 10.9% to $7.97 / YTD price return: -27.2% / 12-Month Price Range: $ 8.65-12.12 / Short interest (% of float): 1.4%; days to cover: 3.9 (the stock is currently on the short sale restriction list)
  • Ouster Inc (OUST), down 10.7% to $11.33 / YTD price return: -16.1% / 12-Month Price Range: $ 7.55-17.73 / Short interest (% of float): 7.6%; days to cover: 6.3 (the stock is currently on the short sale restriction list)
  • Endo International PLC (ENDP), down 10.2% to $5.62 / YTD price return: -21.7% / 12-Month Price Range: $ 2.71-10.89 / Short interest (% of float): 8.6%; days to cover: 6.8 (the stock is currently on the short sale restriction list)
  • Cameco Corp (CCJ), down 10.0% to $19.26 / YTD price return: +43.7% / 12-Month Price Range: $ 9.01-21.95 / Short interest (% of float): 2.7%; days to cover: 2.1 (the stock is currently on the short sale restriction list)
  • Shyft Group Inc (SHYF), down 9.7% to $37.13 / 12-Month Price Range: $ 14.70-43.75 (the stock is currently on the short sale restriction list)
  • John Wiley & Sons Inc (JWa), down 9.5% to $56.17 / YTD price return: +23.0% / 12-Month Price Range: $ 30.00-66.04 (the stock is currently on the short sale restriction list)
S&P 1500 Forward P/E | Sources: ϕpost, FactSet dataS&P 1500 Forward EV/EBITDA | Sources: ϕpost, FactSet data

NEW IPOs ANNOUNCED OR PRICED

  • Frontier Investment Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: FICVU / Gross proceeds (including overallotment): US$ 250.00m (offering in U.S. Dollar) / Bookrunners: JP Morgan Securities LLC
  • Tokaido REIT Inc / Japan - Real Estate / Listing Exchange: Tokyo / Ticker: 2989 / Gross proceeds (including overallotment): US$ 144.50m (offering in Japanese Yen) / Bookrunners: Mizuho Securities Co Ltd, Daiwa Securities Co Ltd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

  • Alexandria Real Estate Equities Inc / United States of America - Real Estate / Listing Exchange: New York / Ticker: ARE / Gross proceeds (including overallotment): US$ 1,257.23m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Citigroup Global Markets Inc, RBC Capital Markets LLC, JP Morgan Securities LLC, Bofa Securities Inc
  • C4 Therapeutics Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: CCCC / Gross proceeds (including overallotment): US$ 179.27m (offering in U.S. Dollar) / Bookrunners: Evercore Group, Jefferies LLC, JP Morgan Securities LLC
  • RAPT Therapeutics Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: RAPT / Gross proceeds (including overallotment): US$ 125.00m (offering in U.S. Dollar) / Bookrunners: JP Morgan Securities LLC, SVB Leerink LLC, Piper Sandler & Co
  • Draper Esprit PLC / United Kingdom - Financials / Listing Exchange: London AIM / Ticker: GROW / Gross proceeds (including overallotment): US$ 150.08m (offering in British Pound) / Bookrunners: Goodbody Stockbrokers, Numis Securities Ltd