Banks Beat Earnings, Producer Price Increases Cool; Stocks Rise Thursday

Last Updated: Thursday, October 14, 2021 1:55 PM | Nick Dey

During trading Thursday, 122 stocks traded to a 52-week high, while 12 stocks bottomed out at new 52-week lows. The S&P 500 is up 1.64% so far today while the Dow is up 1.5%, the Nasdaq is up 1.69%, and the Russell 2000 is up 1.39%.

Stocks are on the rise Thursday morning. Weekly jobless claims reached their lowest point since March 2020 as claims fell to 293,000 claims against estimates for 332,000 claims. Core producer prices cooled in September with a 0.2% rise after rising 0.6% in August. Lastly, banks are mixed today following a host of better-than-expected earnings reports from Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS), and U.S. Bancorp (USB).

Sector Highlights

Financial Services stocks dominated our list of highs today with 30 out of the 122 total stocks that reached their high coming from the Financial Services sector. The Financial Services sector is underperforming the market, increasing 1.43% so far on the day. Over the last month, the Financial Services sector has outperformed the market, increasing 2.09% while the S&P decreased 2.13%.

LPL Financial (LPLA) is up 1.63% after announcing that LPL advisors now have access to the newly launched Strategic Market Solution Plus by Lincoln Financial Group.

Financial Services: ACGL, AJG, AMP, AMRK, AON, APO, ARCC, ATH, BLX, BRO, CASH, COOP, DFIN, ECPG, EVR, FAF, FBC, FDS, FOCS, FRC, ICE, JEF, LPLA, MTG, NYCB, PACW, PRI, STC, UPST, WD

Technology had the second-largest presence on our 52-week highs, with 24 out of 122 highs coming from the Technology sector. The Technology sector is outperforming the market today, increasing 2.03% so far on the day. Over the last month, the Technology sector has underperformed the market, decreasing 3.3% while the S&P decreased 2.13%.

Elastic (ESTC) is up 2.6% after expanding its integration with Google Cloud. Meanwhile, Zscaler (ZS) is up 2.16% amidst ongoing public U.S. efforts to counter ransomware.

Technology: AFRM, ANET, AZPN, BILL, CACI, CALX, CDAY, CRM, CSOD, CYBR, DDOG, DOCN, DT, ESTC, FLYW, JAMF, NET, ORCL, PANW, PAYC, PRFT, XLNX, ZS, ZUO

The Lists

The following stocks traded to 52-week highs: ACGL, AFRM, AJG, ALNY, AMP, AMR, AMRK, ANET, AON, APA, APO, ARCC, ASH, ATH, AZPN, BILL, BKR, BLDR, BLX, BRG, BRO, CACI, CALX, CASH, CDAY, CHH, CIO, CMP, COOP, CPT, CRM, CSOD, CTAS, CVLG, CYBR, DCP, DDOG, DFIN, DOCN, DT, ECPG, ENLC, ESTC, ETRN, EVR, FAF, FBC, FDS, FLMN

The following stocks traded to 52-week lows: ACHR, ARCE, ATHX, AVAH, BBBY, CTSO, ESPR, GRPH, IBIO, PMVP, PSTX, STIM

The following ETFs traded to a 52-week high: DBB, DBC, DJP, EIS, EWC, GSG, IXC, OIL, PIN, RSX, UGA, USCI, USO

The following ETFs traded to a 52-week low: VXX

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