During trading Wednesday, 18 stocks traded to a 52-week high, while 138 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.06% so far today while the Dow is down 0.18%, the Nasdaq is up 0.17%, and the Russell 2000 is down 0.95%.
Stocks are slightly lower Wednesday afternoon, paring losses since market open to near the break-even point for the day. September ADP Employment Change showed the private sector add 568,000 jobs, far exceeding estimates for 405,000 jobs and up sharply from August’s growth of 340,000 jobs. The strong report helped to relieve worries regarding hiring difficulties and bolstered hopes that the Fed could begin tapering asset purchases next month. Lastly, Hovnanian (HOV) is down 14% after lowering guidance in its earnings release due to delays stemming from its supply chain.
Sector Highlights
Industrials stocks dominated our list of highs today with 6 out of the 18 total stocks that reached their high coming from the Industrials sector. The Industrials sector is underperforming the market, decreasing 0.22% so far on the day. Over the last month the Industrials sector has underperformed the market, decreasing 4.38% while the S&P decreased 4.18%.
Acuity Brands (AYI) is up 10.89% after providing upbeat guidance after beating Quarter 4 earnings estimates.
Industrials: AYI, CAR, KFRC, RGP, TNET, ZWS
The Healthcare sector makes up the majority of our 52-week lows, as 52 out of our 138 lows comes from the Healthcare sector. The Healthcare sector is outperforming the market today, decreasing 0.48% so far on the day. Over the last month the Healthcare sector has underperformed the market, decreasing 7.61% while the S&P decreased 4.18%.
Healthcare: ADVM, AFIB, AMED, AMGN, AMTI, AMWL, ATHX, ATNX, AVAH, AVNS, BDTX, CLVR, CVAC, CVET, DRRX, EIGR, ESPR, FBRX, GKOS, GMDA, GRPH, HARP, HOOK, HRTX, IBIO, IMUX, INCY, IVC, KALA, KLDO, KNSA, LHCG, MDVL, MPLN, NAUT, NRXP, OSH, OTRK, OYST, PETQ, PNT, PRVA, RPID, SGMO, SLDB, SMFR, SPPI, STOK, TCRR, TLMD, TRHC, VRTX
