During trading Thursday, 8 stocks traded to a 52-week high, while 440 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.47% so far today while the Dow is down 0.6%, the Nasdaq is down 0.79%, and the Russell 2000 is down 0.22%.
Stocks are lower Thursday but are well off session lows. Cryptos are lower, with Bitcoin reclaiming $19k after briefly dipping below. The 10-year Treasury yield is back below 3% after reaching a decade high 3.5% yield earlier this month.
The Fed's preferred inflation gauge, the PCE Price Index, rose at a slower rate than expected in May. The headline figure rose at a monthly pace of 0.6%, while the core figure rose 0.3% as inflation moderated year-over-year. However, Personal Spending softened during May as the savings rate ticked higher and real disposable personal income fell by 3.3%.
Coinbase Global Inc (COIN) is declining 4.86% after the European Union Parliament reached an agreement on crypto anti-money laundering rules on Wednesday night. This is a provisional agreement regarding the transparency of crypto-asset transfers.
Lastly, Walgreens Boots Alliance Inc (WBA) is down 5.92% despite beating earnings estimates. Sales fell 4.2% during the quarter as tailwinds from covid slowed. AllianceRX was a blotch on the report, as declining sales dented the company's growth following its decision to up its stake in the company to 100% last year.
Sector Highlights
The Consumer Cyclical sector makes up the majority of our 52-week lows, as 98 out of our 440 lows come from the Consumer Cyclical sector. The Consumer Cyclical sector is outperforming the market today, decreasing 1.22% so far on the day. Over the last month, the Consumer Cyclical sector has underperformed the market, decreasing 8.82% while the S&P decreased by 8.16%.
Consumer Cyclical: AAN, ABNB, AEO, AKA, ALLG, ANF, ARHS, BBBY, BBIG, BBWI, BBY, BIRD, BJRI, BKNG, BURL, CBRL, CCL, CHH, CROX, CURV, CWH, DLTH, DSEY, EAT, EBET, ENJY, ETD, EVGO, EXPE, EXPR, FIVE, FL, FOSL, FXLV, GAN, GDEN, GIII, GOED, GOEV, GOOS, GPS, GRWG, GT, HVT, HZO, IRBT, JACK, KSS, LAZR, LAZY, LL, LNW, LOTZ, MTN, NDLS, NKE, NLS, NVVE, OSTK, OSW, PLBY, PRPL, PTON, PTRA, PVH, QRTEA, RCL, RH, RMO, ROST, ROVR, RRR, RUTH, SBH, SCVL, SFIX, SGHC, SHOO, SNBR, SOND, TCS, TDUP, TILE, TLYS, TRIP, TTSH, UAA, VFC, VLTA, VSCO, VSTO, XL, ZUMZ, BLBD, CNTY, MLR, MPAA, STKS
The Lists
The following stocks traded to 52-week highs:
CDR, FCN, GIS, GOAC, MTOR, HPX, ISLE, SCOA
The following stocks traded to 52-week lows:
AAN, AAWW, ABCB, ABNB, ACVA, ADT, ADV, AEO, AGLE, AIP, AKA, AKR, ALGT, ALIT, ALLG, ALTO, AMD, AMP, AMPL, AMRC, AMTX, ANF, ANY, AQST, ARHS, ASTR, ATCX, ATNX, AUD, AUR, AVDX, AVNT, AVYA, AXP, AZZ, B, BAC, BBAI, BBBY, BBIG, BBLN, BBWI, BBY, BCOV, BEN, BFH, BGRY, BHE, BHR
