During trading Tuesday, 14 stocks traded to a 52-week high, while 273 stocks bottomed out at new 52-week lows. The S&P 500 is down 1.8% so far today while the Dow is down 1.73%, the Nasdaq is down 1.61%, and the Russell 2000 is down 1.77%.
Investors are likely looking ahead to tomorrow's Federal Reserve rate decision and statement. Expectations are mostly set on another 75-basis point rate hike, though a full percent hike remains on the table for investors.
Housing data was underwhelming despite a headline beat for housing starts. While starts jumped 12.2% month-over-month, it was carried by a massive 28% increase in multi-unit starts as single-family starts rose just 3.4%. Meanwhile, building permits slowed more than expected. Considering yesterday's lower-than-expected reading for the NAHB Housing Market, August's jump may prove unsustainable as sentiment and permits wane, and rates rise.
Ford Motor Company (F) is plunging 11.45% after the company issued third-quarter guidance. The company reaffirmed its EBIT guidance but said that it expects inflation-related supplier costs to be $1 billion more than expected. Further, the company expects between 40,000 and 45,000 vehicles to be stuck in inventory at the end of the third quarter, and that those will primarily be higher-margin trucks and SUVs. Ford didn't specify this as chip-related and it was described as part related (rather than component-related), meaning there could be new shortages arising in the automobile industry.
Sector Highlights
The Healthcare sector makes up the majority of our 52-week lows, as 60 out of our 273 lows come from the Healthcare sector. The Healthcare sector is outperforming the market today, decreasing 1.74% so far on the day. Over the last month, the Healthcare sector has outperformed the market, decreasing 4.54% while the S&P decreased by 8.96%.
Healthcare: AFMD, AMPE, ATHX, ATNX, AVNS, BBLN, BHG, BIO, BRKR, BTX, CABA, CDAK, CERT, CGEN, CRL, QNCX, CVAC, DGX, EGRX, EPIX, FLGT, PRDS, HARP, HGEN, HOLX, HSIC, IART, ICLR, INVA, LIVN, LUCD, NEOG, NEXI, NUVB, NVST, OBSV, OMCL, OPK, ORGO, PAHC, PIRS, PKI, QDEL, RUBY, SHC, SIEN, SLGC, SONX, STE, SURF, SYNH, TALK, TECH, TFX, TNXP, VTRS, VXRT, XRAY, XXII, ZTS
The Lists
The following stocks traded to 52-week highs:
AZPN, CCXI, CHNG, HFWA, HUM, IMPX, MIST, NAT, PCG, PTCT, SCOA, SWCH, TNK
The following stock recently reported earnings and is at a 52-week high:
The following stocks traded to 52-week lows:
ACEL, ADBE, AEVA, AFMD, AGFY, AKA, ALGT, AMPE, AMRK, ANGI, APP, APPH, AQB, ARLO, AROC, ASTR, ATER, ATHX, ATKR, ATNX, AVNS, AVTR, BBLN, BFAM, BGS, BHG, BIO, BIRD, BLKB, BNL, BRDS, BRKR, BTX, BV, BYND, CABA, CARG, QNGY, CDAK, CE, CEI, CERT, CEVA, CGEN, CHD, CHTR, CIDM, CIEN, CLAR, CLSK, CLVT, CMTG, CNDT, COMP.EQ, CPT, CRL, CRM, CRNC, QNCX, CTLP, CUZ, CVAC, CWK, CYXT, DBRG, DCFC, DEA, DGX, DHC, DNB, DOLE, DORM, DOW, DS, FOXO, EAF, EBAY, EBET, EGHT, EGRX, EMKR, EMN, ENV, EPIX, ESS, EVTC, EXPD, FIS, FLGT, FLS, FLT, STRY, FPH, PRDS, GHL, SWVL, GMRE, GNRC, GOOD, GRMN, GWRE, HAIN, HARP, HAYW, HBI, HGEN, HLLY, HLMN, HOLX, HPP, HPQ, HSIC, HSII, HUN, IART, ICLR, IDEX, IFF, INVA, IP, IRNT, IRT, JOE, KFY, KMX, KN, KRC, KRO, KW, KXIN, LAD, LAND, LBRDK, LBTYA, LEV, LIDR, LOCL, LILM, LITE, LIVN, LPSN, LUCD, LUMN, LXP, MAN, MAPS, MATX, MCW, MED, MHK, MKTX, MLKN, MPW, MTCH, MU, MVST, MX, NAK, NEGG, NEOG, NEXI, NLOK, NSA, NUVB, NVST, NVVE, NWL, OBSV, OII, OMCL, OMF, ONL, ONTF, OPEN, OPK, ORC, ORGO, OTIS, OTMO, OUST, PACK, PAHC, PATK, PCH, PIRS, PKI, PNR, POWW, PRFT, PRLB, GETY, PSMT, PXLW, PZZA, QDEL, RDFN, RDW, REKR, RGR, RMAX, ROOT, ROVR, RPAY, RPT, RUBY, RYN, SEE, SHC, SIEN, SITC, SITM, SKYW, SLGC, SLNH, SMP, SMRT, SNCY, RGTI, SONX, SPCE, SPNS, SSNC, SSSS, STAR, STE, STX, SUI, SURF, SWBI, SWIM, SYNA, SYNH, T, TALK, TCS, TECH, TFX, TNXP, TROX, TRU, TSN, TTCF, TWKS, LLAP, UIHC, UIS, UNIT, UP, UPLD, VATE, VFC, VNT, VRNT, VTRS, VXRT, VZ, WBA, WDC, WE, WELL, WHR, WISH, WRK, WY, XELA, XL, XOS, XRAY, XXII, ZEV, ZIM, ZTS, ZWS
High & Low Streaks
The following stock is trading at a 52-week high for the third consecutive day:
The following stocks are trading at a 52-week low for the third consecutive day:
AGFY, AKA, ANGI, APP, APPH, AQB, ARLO, AVNS, AVTR, BGS, BIO, BYND, CARG, CEI
