Markets Rebound Thursday as Cyclical Stocks Top Highs

During trading Thursday, 76 stocks traded to a 52-week high, while 9 stocks bottomed out at new 52-week lows. The S&P 500 is up 1.4% so far today while the Dow is up 1.65%, the Nasdaq is up 1.14%, and the Russell 2000 is up 2.03%.

Markers are higher Thursday as stocks continue their recovery from a rough start to the week led by the China Evergrande Group’s current liabilities and being far behind on construction of properties for millions of citizens. Meanwhile, yields for longer-term maturities rose today, reversing the flattening of the yield curve yesterday. Initial unemployment claims data came in higher than expected with 351,000 claims compared to estimates for 317,000.

Sector Highlights

Consumer Cyclical stocks dominated our list of highs today with 16 out of the 76 total stocks that reached their high coming from the Consumer Cyclical sector. The Consumer Cyclical sector is underperforming the market, increasing 1.23% so far on the day. Over the last month the Consumer Cyclical sector has outperformed the market, increasing 3.02% while the S&P decreased 1.04%.

Cyclical stocks have the most highs Thursday as the sector is up over 1% during trading today with the market recovering from Monday’s fall across the board.

Consumer Cyclical: AN, BOOT, CHH, CMG, CZR, DDS, DRI, GPI, HGV, KMX, LULU, ORLY, PAG, RRR, TPX, TSCO,

Technology had the second largest presence on our 52-week highs, with 15 out of 76 highs coming from the Technology sector. The Technology sector is outperforming the market today, increasing 1.48% so far on the day. Over the last month the Technology sector has outperformed the market, decreasing 0.64% while the S&P decreased 1.04%.

Tech stocks are once near the top of the list of highs as the sector is outperforming the overall market today but still down over the past month.

Technology: ADI, AMBA, CAMT, DELL, HUBS, IT, LSCC, MPWR, NOVT, ON, PAYC, PCTY, SPSC, TXN, VICR,