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Stocks Lower Friday as Labor Market Runs Hot; UiPath, Marvell React to Earnings

Friday, December 02, 2022 02:00 PM | Nick Dey

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Stocks Lower Friday as Labor Market Runs Hot; UiPath, Marvell React to Earnings

During trading Friday, 76 stocks traded to a 52-week high, while 55 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.56% so far today while the Dow is down 0.32%, the Nasdaq is down 0.77%, and the Russell 2000 is up 0.07%.

Stocks are lower Friday afternoon following the November Employment Situations Report. The monthly jobs report showed the unemployment rate remain steady at 3.7% while both the private and public sector add more jobs in November than expected as nonfarm payrolls added 263,000 jobs and nonfarm private payrolls jumped by 221,000 jobs. This report supported a higher-for-longer Fed.

UiPath Inc (PATH) is up 11.89% after the software company reported a surprise profit-per-share and topped revenue estimates. Meanwhile, Marvell Technology Inc (MRVL) is declining 3.89% after the semiconductor company missed estimates and issued downside guidance.

Sector Highlights

Financial Services stocks dominated our list of highs today with 25 out of the 76 total stocks that reached their high coming from the Financial Services sector. The Financial Services sector is underperforming the market, decreasing 0.7% so far on the day. Over the last month, the Financial Services sector has outperformed the market, increasing 6.07% while the S&P increased 5.28%.

Financial Services: AAC, ACGL, ADER, ADEX, APGB, COLI, EPHY, FSNB, GL, GNW, GSEV, HLAH, INDB, JOFF, JWSM, KAHC, LGV, NSTB, NSTC, NSTD, PV, RMGC, RNR, VELO, ZWRK

Industrials had the second-largest presence on our 52-week highs, with 13 out of 76 highs coming from the Industrials sector. The Industrials sector is outperforming the market today, increasing 0.28% so far on the day. Over the last month, the Industrials sector has outperformed the market, increasing 7.56% while the S&P increased 5.28%.

Industrials: ACM, ADP, ADT, CW, FLR, GD, HURN, IEX, LMT, PWR, SNA, VMI, WAB

The Lists

The following stocks traded to 52-week highs:

AAC, ABC, ACGL, ACM, ADER, ADEX, ADP, ADT, APD, APGB, ASH, BBW, BHVN, BMRN, CACI, CELH, CMC, COLI, COLL, CPB, CW, ENPH, EPHY, FLO, FLR, FSNB, FTI, GD, GL, GNW, GPC, GSEV, GTY, HALO, HLAH, HURN, IEX, IMGO, IMMR, IMVT, INDB, JOFF, JWSM, KAHC, LGV, LMT, LPG, LVS, LYTS, MMSI, NSTB, NSTC, NSTD, PERI, PLXS, PV, PWR, REYN, RMGC, RNR, ROST, RS, RYAM, SLGN, SNA, SRPT, STLD, TR, ULTA, UTHR, VELO, VMI, WAB, YUMC, ZWRK

The following stock recently reported earnings and is at a 52-week high:

MEI

The following stocks traded to 52-week lows:

AMPL, ANY, ASAN, ATIP, ATOS, BGS, BODY, BRMK, BYSI, DCFC, DESP, DOMA, ENJYQ, FBIO, FFIE, STRY, FTCH, IPVA, KNOP, LCID, LPTX, MKFG, NEXI, NGL, NVAX, NVVE, ONDS, PAGS, PRTY, RKLY, RLMD, RNA, RUBY, SBH, SDC, SDGR, SDIG, SGHC, SFT, SLNH, SMFR, SMMT, STOK, SURF, TIL, TNXP, TTCF, VBIV, VNTR, XOS, ZEV, ZIM

The following stocks recently reported earnings and are at a 52-week low:

DBI, GIII, LE

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