29 Stocks Reach Highs as Market Tumbles

Thursday, October 15, 2020 1:59 PM | Nick Dey

During trading Thursday, 29 stocks traded to a 52-week high, while 15 stocks bottomed out at new 52-week lows. The S&P 500 is down -0.45% on the day so far. Stocks are trading lower today due to a trifecta of negative news circulating the market today. This morning kicked off with a worse-than-expected initial claims report, which showed an increase of 53,000 claims to 898,000 claims for the week ended October 10 and represented its worst reading since August. Additionally, the White House, House Democrats, and Senate Republicans all remain at odds on how economic stimulus should be handled going forward. Lastly, investors are beginning to fear that more economic turmoil could be around the corner due to stricter restrictions as major cities throughout Europe and the rest of the world have started tightening restrictions in an effort to curb the newest wave of cases.

The following stocks traded to 52-week highs: AAXN, AMRC, AN, BBBY, BKI, COWN, DECK, DKS, DNKN, EAT, EV, GPRO, GRUB, HVT, IRBT, KRA, LOB, NFE, PACB, PCTY, PWR, SNAP, SNBR, TRUP, TWST, TXRH, WOR, WTRE, ZM

The following Stocks traded to 52-week lows: AHT, ALEC, BTU, CLI, CVIAQ, GPOR, MCS, MNKKQ, NEBLQ, PRQR, QURE, TLRDQ, VRS, WPG, XOGAQ

Consumer Cyclical: AN, BBBY, DECK, DKS, DNKN, EAT, HVT, SNBR, TXRH Consumer Cyclical stocks dominated our list of highs today with 9 out of the 29 total stocks that reached their high coming from the Consumer Cyclical sector. The Consumer Cyclical sector is up -0.56% so far Thursday while the S&P 500 is down -0.45%. Consumer Cyclicals are trading lower today despite recent trends of outperforming the market. BBBY is trading to highs after announcing plans to sell certain non-core assets. Additionally, EAT is at highs following the company being upgraded to Outperform from Market Perform at BMO Capital Markets earlier today.

Financial Services: COWN, EV, LOB, TRUP, WTRE The Financial Services sector had the second largest presence on our 52-week highs, with 5 out of 29 highs coming from the Financial Services sector. The Financial Services sector is up 0.6% so far Thursday while the S&P 500 -0.45% Despite the sector’s recent trends of under-performing compared to the market, Financial Services are one of only 4 sectors that are trading higher today. WTRE is following the sectors move against the market, trading higher following yesterday’s downgrade to Market Perform from Market Outperform at JMP Securities.

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