During trading Friday, 14 stocks traded to a 52-week high, while 101 stocks bottomed out at new 52-week lows. The S&P 500 is down 1.94% so far today while the Dow is down 1.28%, the Nasdaq is down 2.19%, and the Russell 2000 is down 1.25%.
Stocks are sliding lower Friday afternoon. Cryptos are down, with Bitcoin losing 3.28% and Ethereum dropping 3.78%.
PCE Prices rose 0.9% in March, while the core reading rose 0.3%. Personal spending rose more than expected at a pace of 1.1% in March
Earnings from mega-cap companies yesterday evening disappointed investors.
Apple Inc (AAPL) is down 2.11% after the company's earnings report. Apple beat earnings and revenue estimates but opted out of providing guidance due to uncertainty surrounding its supply chain. Instead, Apple said it anticipates a hit of $4-8 billion in the June quarter due to supply chain disruptions, which is substantially larger than the impact on the March Quarter.
Meanwhile, Amazon.com, Inc. (AMZN) is plunging 13.31% after reporting its first GAAP loss in over five years. Notably, the loss per share includes a pre-tax loss on its Rivian Automotive Inc (RIVN) stock investment worth $7.6 billion. The earnings miss and in-line revenues were accompanied by downside Second Quarter guidance. AWS segment sales slowed to a year-over-year growth rate of 36.6% from 39.5% growth in the previous quarter and saw its operating income fall 59% year-over-year, landing on the lower end of Amazon's previously issued guidance.
Sector Highlights
Energy stocks dominated our list of highs today with 5 out of the 14 total stocks that reached their high coming from the Energy sector. The Energy sector is outperforming the market, decreasing 0.63% so far on the day. Over the last month, the Energy sector has outperformed the market, increasing 2.4% while the S&P decreased by 5.63%.
Energy: ARLP, BSM, GPOR, PBF, STNG
The Healthcare sector makes up the majority of our 52-week lows, as 28 out of our 101 lows come from the Healthcare sector. The Healthcare sector is outperforming the market today, decreasing 1.48% so far on the day. Over the last month, the Healthcare sector has underperformed the market, decreasing 9.71% while the S&P decreased by 5.63%.
Healthcare: ACCD, ALDX, ARAY, AVTX, AWH, BAX, CARA, COLL, COO, DNAY, ERAS, ETNB, IKNA, KRON, MD, NGM, NOTV, OMIC, PLRX, PRQR, SEER, SLDB, SRRK, STXS, TNXP, TRHC, TSHA, UPH
