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Markets Inch Higher Thursday; Finance Stocks Lead 52-Week Highs

Thursday, April 08, 2021 02:03 PM | Neal Farmer

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Markets Inch Higher Thursday; Finance Stocks Lead 52-Week Highs

During trading Thursday, 84 stocks traded to a 52-week high, while 4 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.31% so far today while the Dow is down 0.02%, the Nasdaq is up 0.79%, and the Russell 2000 is up 0.57%.

Markets are edging higher Thursday, initial claims rose to 744,000 last week. Analysts were expecting a drop in claims to 690,000 from the previous week’s 728,000. Treasury Secretary Janet Yellen discussed the Biden Administration’s plan to increase corporate taxes while proposing a global minimum corporate income tax.

Sector Highlights

Financial Services stocks dominated our list of highs today with 27 out of the 84 total stocks that reached their high coming from the Financial Services sector. The Financial Services sector is underperforming the market, decreasing 0.24% so far on the day. Over the last month the Financial Services sector has underperformed the market, decreasing 3.64% while the S&P increased 6.2%.

Finance stocks are back atop this list after higher volatility last week as many large institutions were exposed to the Archegos Capital Management failure to meet its margin call.

Financial Services: AIZ, AJG, AON, ARCC, BBDC, BCSF, BLK, BSIG, BX, CG, EFC, FAF, FNF, FSK, GAIN, GLAD, KKR, MAIN, MCO, MMC, NDAQ, OCSL, ORI, SC, SEIC, SLM, WLTW,

Technology had the second largest presence on our 52-week highs, with 18 out of 84 highs coming from the Technology sector. The Technology sector is outperforming the market today, increasing 1.11% so far on the day. Over the last month the Technology sector has outperformed the market, increasing 7.5% while the S&P increased 6.2%.

Tech stocks have the second most highs with the sector performing strongly in recent weeks after lagging behind earlier in the year as investors moved to reeopen trades.

Technology: ACN, ALLT, CDW, CMBM, DELL, EPAM, FTNT, HCKT, HPQ, IPHI, LRCX, MSFT, MU, NCR, ORCL, PTC, SGH, STX,

The Lists

The following stocks traded to 52-week highs:

ACN, AEO, AGNC, AIZ, AJG, ALLT, AON, ARCC, AVTR, BBDC, BCSF, BIP, BKD, BLK, BSIG, BX, CDW, CG, CMBM, CNMD, CODI, CPT, CSL, CUBE, DELL, DTE, EFC, EPAM, EXR, FAF, FB, FNF, FSK, FTNT, GAIN, GLAD, GOOGL, HCKT, HPQ, IDCC, INFO, INMD, INOV, IPHI, IQV, KELYA, KKR, LOW, LRCX, LSI, MAA, MAIN, MCO, MGP, MMC, MNST, MSFT, MU, NCR, NDAQ, OCSL, OHI, ORBC, ORCL, ORGO, ORI, PCH, PRAH, PSA, PTC, REXR, RVI, SBUX, SC, SEIC, SGH, SLM, STAR, STX, SYK, TXT, VCEL, WELL, WLTW

The following stocks traded to 52-week lows:

FGEN, FIXX, GEO, VTRS

The following ETFs traded to a 52-week high:

COW, ECH, EWT, EWU, EWW, ICF, IOO, IYR, NLR, OEF, RTH, SPY, URE, VGK, VNQ, VTI, XLK, XLY

The following ETFs traded to a 52-week low:

VXX, VZZ

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