Equities

Another Record Day For US Stocks, On The Back Of Good Earnings And The Lowest Jobless Claims Since Pandemic Start

More dispersion in returns today, with just over half of S&P 500 stocks closing higher, and growth stocks widely overperforming value stocks

Published ET

S&P 500 Price & Volume | Sources: ϕpost, Refinitiv data

S&P 500 Price & Volume | Sources: ϕpost, Refinitiv data


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QUICK SUMMARY

  • Daily performance of US indices: S&P 500 up 0.30%; Nasdaq Composite up 0.62%; Wilshire 5000 up 0.34%
  • 55.8% of S&P 500 stocks were up today, with 74.5% of stocks above their 200-day moving average (DMA) and 61.8% above their 50-DMA
  • Top performing sectors in the S&P 500: consumer discretionary up 1.38% and health care up 0.44%
  • Bottom performing sectors in the S&P 500: energy down -1.81% and financials down -0.35%
  • The number of shares in the S&P 500 traded today was 481m for a total turnover of US$ 61 bn
  • The S&P 500 Value Index was down -0.1%, while the S&P 500 Growth Index was up 0.7%; the S&P small caps index was up 0.2% and mid caps were up 0.3%
  • The volume on CME's INX (S&P 500 Index) was 1.9m (3-month z-score: -0.2); the 3-month average volume is 2.0m and the 12-month range is 0.8 - 5.1m
  • Daily performance of international indices: Europe Stoxx 600 down -0.08%; UK FTSE 100 down -0.45%; tonight in Asia, China's CSI 300 up 0.38%, Japan's TOPIX 500 up 0.33%

VOLATILITY

  • 1-month at-the-money implied volatility on the S&P 500 at 11.1%, down from 11.9%
  • 1-month at-the-money implied volatility on the Europe Stoxx 600 at 11.1%, up from 11.0%

NOTABLE S&P 500 EARNINGS RELEASES

  • Danaher Corp (DHR | Healthcare): beat on EPS (2.39 act. vs. 2.15 est.) and beat on revenue (7,229m act. vs. 7,004m est.), down -1.30% today
  • Intel Corp (INTC | Technology): beat on EPS (1.71 act. vs. 1.06 est.) and beat on revenue (19,192m act. vs. 17,804m est.), up 1.14% today
  • AT&T Inc (T | Technology): beat on EPS (0.87 act. vs. 0.78 est.) and beat on revenue (39,922m act. vs. 39,136m est.), down -0.58% today
  • Union Pacific Corp (UNP | Industrials): beat on EPS (2.57 act. vs. 2.52 est.) and beat on revenue (5,566m act. vs. 5,343m est.), up 1.43% today
  • Marsh & McLennan Companies Inc (MMC | Financials): missed on EPS (1.08 act. vs. 1.43 est.) and beat on revenue (4,583m act. vs. 4,526m est.), up 1.56% today
  • Freeport-McMoRan Inc (FCX | Basic Materials): beat on EPS (0.89 act. vs. 0.76 est.) and beat on revenue (6,083m act. vs. 5,767m est.), down -1.31% today
  • Chipotle Mexican Grill Inc (CMG | Consumer Cyclicals): beat on EPS (7.02 act. vs. 6.52 est.) and beat on revenue (1,952m act. vs. 1,882m est.), up 1.14% today
  • IQVIA Holdings Inc (IQV | Healthcare): beat on EPS (2.17 act. vs. 2.08 est.) and beat on revenue (3,391m act. vs. 3,271m est.), up 1.32% today
  • Dow Inc (DOW | Basic Materials): beat on EPS (2.75 act. vs. 2.56 est.) and beat on revenue (14,837m act. vs. 14,281m est.), down -1.05% today
  • SVB Financial Group (SIVB | Financials): missed on EPS (6.24 act. vs. 6.50 est.) and beat on revenue (1,524m act. vs. 1,137m est.), down -0.02% today
  • Valero Energy Corp (VLO | Energy): beat on EPS (1.22 act. vs. 0.92 est.) and beat on revenue (29,520m act. vs. 23,968m est.), up 1.18% today
  • Nucor Corp (NUE | Basic Materials): beat on EPS (7.28 act. vs. 4.79 est.) and beat on revenue (10,313m act. vs. 8,257m est.), down -2.94% today
  • Southwest Airlines Co (LUV | Industrials): beat on EPS (-0.23 act. vs. -0.27 est.) and beat on revenue (4,679m act. vs. 4,582m est.), down -1.64% today
  • Tractor Supply Co (TSCO | Consumer Cyclicals): missed on EPS (1.95 act. vs. 2.96 est.) and missed on revenue (3,018m act. vs. 3,456m est.), up 4.01% today
  • KeyCorp (KEY | Financials): beat on EPS (0.65 act. vs. 0.57 est.) and beat on revenue (1,822m act. vs. 1,753m est.), up 0.25% today
  • Pool Corp (POOL | Consumer Cyclicals): missed on EPS (4.44 act. vs. 5.48 est.) and missed on revenue (1,411m act. vs. 1,734m est.), up 7.65% today
  • Genuine Parts Co (GPC | Consumer Cyclicals): beat on EPS (1.88 act. vs. 1.54 est.) and beat on revenue (4,819m act. vs. 4,333m est.), up 3.75% today
  • Celanese Corp (CE | Basic Materials): beat on EPS (4.82 act. vs. 4.46 est.) and beat on revenue (2,266m act. vs. 1,958m est.), down -0.47% today
  • NVR Inc (NVR | Consumer Cyclicals): beat on EPS (86.44 act. vs. 72.53 est.) and beat on revenue (2,337m act. vs. 2,190m est.), down -2.99% today
  • Quest Diagnostics Inc (DGX | Healthcare): beat on EPS (3.96 act. vs. 2.88 est.) and beat on revenue (2,774m act. vs. 2,453m est.), down -1.01% today
  • Interpublic Group of Companies Inc (IPG | Consumer Cyclicals): beat on EPS (0.63 act. vs. 0.42 est.) and beat on revenue (2,262m act. vs. 2,081m est.), down -2.45% today
  • W R Berkley Corp (WRB | Financials): beat on EPS (1.32 act. vs. 1.00 est.) and missed on revenue (2,081m act. vs. 2,161m est.), up 0.52% today
  • Whirlpool Corp (WHR | Consumer Cyclicals): beat on EPS (6.68 act. vs. 5.91 est.) and beat on revenue (5,488m act. vs. 5,026m est.), down -0.64% today
  • American Airlines Group Inc (AAL | Industrials): beat on EPS (-0.99 act. vs. -1.96 est.) and beat on revenue (8,969m act. vs. 7,342m est.), up 1.90% today
  • Snap-On Inc (SNA | Industrials): beat on EPS (3.57 act. vs. 3.38 est.) and beat on revenue (1,038m act. vs. 1,006m est.), down -6.80% today
  • Allegion PLC (ALLE | Technology): beat on EPS (1.56 act. vs. 1.29 est.) and beat on revenue (717m act. vs. 713m est.), down -3.89% today
  • Robert Half International Inc (RHI | Industrials): beat on EPS (1.53 act. vs. 1.05 est.) and beat on revenue (1,713m act. vs. 1,478m est.), up 1.29% today
  • People's United Financial Inc (PBCT | Financials): missed on EPS (0.33 act. vs. 0.35 est.) and missed on revenue (478m act. vs. 496m est.), down -0.58% today
  • Alaska Air Group Inc (ALK | Industrials): beat on EPS (1.47 act. vs. 1.30 est.) and beat on revenue (1,953m act. vs. 1,931m est.), down -1.83% today
S&P 500 Performance By Sector | Sources: ϕpost, Refinitiv dataS&P 500 & STOXX 600 1-Month ATM Implied Volatility | Sources: ϕpost, Refinitiv data

TOP WINNERS

  • Digital World Acquisition Corp (DWAC), up 356.8% to $45.50 / 12-Month Price Range: $ 9.84-17.33
  • Portillos Inc (PTLO), up 45.5% to $29.10 on their trading debut
  • TriState Capital Holdings Inc (TSC), up 36.3% to $31.00 / YTD price return: +78.2% / 12-Month Price Range: $ 12.09-26.42
  • Enfusion Inc (ENFN), up 16.5% to $19.81 on their trading debut
  • DiDi Global Inc (DIDI), up 13.8% to $9.81 / 12-Month Price Range: $ 7.16-18.01 / Short interest (% of float): 1.9%; days to cover: 3.8
  • WeWork Inc (WE), up 13.5% to $11.78 / YTD price return: +14.8% / 12-Month Price Range: $ 8.85-13.93
  • Duolingo Inc (DUOL), up 12.8% to $178.14 / 12-Month Price Range: $ 118.55-205.00 / Short interest (% of float): 8.8%; days to cover: 4.4
  • Janux Therapeutics Inc (JANX), up 12.0% to $25.02 / 12-Month Price Range: $ 16.32-37.99 / Short interest (% of float): 4.9%; days to cover: 8.2
  • Sight Sciences Inc (SGHT), up 11.9% to $25.96 / 12-Month Price Range: $ 21.01-42.57 / Short interest (% of float): 3.2%; days to cover: 3.4
  • Uniti Group Inc (UNIT), up 10.7% to $14.40 / YTD price return: +22.8% / 12-Month Price Range: $ 8.70-13.45 / Short interest (% of float): 5.8%; days to cover: 8.8

BIGGEST LOSERS

  • Getnet Adquirencia e Servicos para Meios de Pagamento SA (GETVV), down 26.0% to $2.22 / 12-Month Price Range: $ 2.92-4.32 (the stock is currently on the short sale restriction list)
  • Treace Medical Concepts Inc (TMCI), down 18.4% to $19.95 / 12-Month Price Range: $ 22.43-37.17 / Short interest (% of float): 1.8%; days to cover: 4.6 (the stock is currently on the short sale restriction list)
  • Kaiser Aluminum Corp (KALU), down 10.5% to $102.04 / YTD price return: +3.2% / 12-Month Price Range: $ 57.13-141.07 (the stock is currently on the short sale restriction list)
  • Companhia Energetica de Minas Gerais CEMIG (CIG), down 9.8% to $2.38 / YTD price return: -7.9% / 12-Month Price Range: $ 1.59-2.77 (the stock is currently on the short sale restriction list)
  • International Business Machines Corp (IBM), down 9.6% to $128.33 / YTD price return: +1.9% / 12-Month Price Range: $ 105.92-152.84 / Short interest (% of float): 2.9%; days to cover: 7.6
  • Lindsay Corp (LNN), down 9.0% to $145.02 / YTD price return: +12.9% / 12-Month Price Range: $ 103.17-179.27
  • MoneyLion Inc (ML), down 8.9% to $6.66 / YTD price return: -41.1% / 12-Month Price Range: $ 5.48-12.90
  • Goosehead Insurance Inc (GSHD), down 8.3% to $161.07 / YTD price return: +30.9% / 12-Month Price Range: $ 77.80-181.30
  • Centrais Eletricas Brasileiras SA (EBRb), down 8.3% to $6.32 / 12-Month Price Range: $ 4.93-9.66 / Short interest (% of float): 0.2%; days to cover: 55.6
  • OneMain Holdings Inc (OMF), down 8.2% to $55.35 / YTD price return: +22.9% / 12-Month Price Range: $ 32.01-63.19

VALUATION MULTIPLES BY SECTORS

S&P 500 P/E Multiples By Sector | Sources: ϕpost, FactSet dataS&P 500 EV/EBITDA Multiples By Sector | Sources: ϕpost, FactSet data