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JPMorgan Rallies on Guidance, VMware Surges on Acquisition Talks; Stocks Rally Monday

Monday, May 23, 2022 02:05 PM | Nick Dey
JPMorgan Rallies on Guidance, VMware Surges on Acquisition Talks; Stocks Rally Monday

During trading Monday, 28 stocks traded to a 52-week high, while 107 stocks bottomed out at new 52-week lows. The S&P 500 is up 1.76% so far today while the Dow is up 2%, the Nasdaq is up 1.3%, and the Russell 2000 is up 1.08%.

Stocks are on the rise Monday afternoon. Cryptos are higher. President Biden said he is reconsidering Trump-era tariffs on China. This comes as pressures from businesses mount for the removal of levies.

JPMorgan Chase & Co (JPM) is advancing 7.2% after the company boosted its profit forecast on its investor's day. Meanwhile, VMware, Inc. (VMW) is up 20.15% after it was announced that the company is in advanced talks to be acquired by Broadcom Inc (AVGO).

Sector Highlights

Energy stocks dominated our list of highs today with 10 out of the 28 total stocks that reached their high coming from the Energy sector. The Energy sector is outperforming the market, increasing 2.33% so far on the day. Over the last month, the Energy sector has outperformed the market, increasing 1.32% while the S&P decreased 12.57%.

Energy: ARLP, COP, KRP, MPC, PBT, SJT, STNG, TNK, TTI, XOM

The Consumer Cyclical sector makes up the majority of our 52-week lows, as 44 out of our 107 lows comes from the Consumer Cyclical sector. The Consumer Cyclical sector is underperforming the market today, increasing 0.11% so far on the day. Over the last month, the Consumer Cyclical sector has underperformed the market, decreasing 24.32% while the S&P decreased 12.57%.

Consumer Cyclical: AEO, AMBP, ANF, BBBY, BJRI, BKE, BNED, CAKE, CBRL, CCL, CHUY, COLM, CRI, DENN, DKS, DRI, EAT, ETSY, FIGS, FXLV, GGR, GPS, JACK, KSS, LOCO, LZB, PLCE, PLNT, RCL, RENT, RH, RL, RMBL, RMO, RRGB, SFT, TTSH, TUP, TXRH, URBN, W, WING, DLTH, HOFT

The Lists

The following stocks traded to 52-week highs:

ARLP, ATRS, AZPN, BIOT, CMTG, COP, CVBF, DOX, DSX, DWIN, FSNB, GO, KRP, MANT, MPC, MRK, NTCT, PBT, PPC, SIGA, SJT, STNG, SWX, TACA, TNK, TTI, XOM, IXC

The following stocks traded to 52-week lows:

ADN, ADSK, ADV, AEO, AKBA, ALGS, AMBP, AMPE, ANF, APSG, ARCE, ATHX, AUD, AVYA, BBBY, BBLN, BDTX, BJRI, BKE, BNED, CAKE, CBRL, CCL, CCO, CHUY, COLM, CRI, CRTX, CTLP, DENN, DKS, DMRC, DMTK, DRI, DVA, EAT, EGHT, ERAS, ETSY, EVTL, FIGS, FSRD, FXLV, GGR, GPS, HTLF, JACK, KSS, LCAP

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