During trading Tuesday, 3 stocks traded to a 52-week high, while 89 stocks bottomed out at new 52-week lows. The S&P 500 is down 1.23% so far today while the Dow is down 1.03%, the Nasdaq is down 1.44%, and the Russell 2000 is down 1.54%.
Stocks opened higher but turned lower Tuesday after Job Openings rose to 11.239 million. This showed that the job market remains red hot, meaning the Federal Reserve still has room to continue raising rates to fight inflation and supported Fed Chair Jerome Powell's hawkish speech last week.
Consumer Confidence rose to a reading of 103.2 in August from a downwardly revised 95.3 in July. While the tick higher was welcomed, the Expectations Index remains under a reading of 80, "suggesting recession risks continue."
Big Lots Inc (BIG) is surging 7.85% after the company delivered better-than-expected EPS. The surge is likely due to a boost in sentiment towards the company due to investments starting to come to fruition. The company repositioned itself to better capitalize on consumers trading down. Customer reactivations through the company's loyalty program jumped 16% quarter-over-quarter and were largely attributed to better bargains and better displays.
Lastly, Best Buy Co Inc (BBY) is rising 2.25% after the company had better-than-feared earnings. Sales continue to take a dive, declining 12.1% during the quarter. The company's beat was largely due to cost-cutting strategies including lower incentive compensation as selling, general, and administrative expenses declined by 6.3%.
Sector Highlights
The Healthcare sector makes up the majority of our 52-week lows, as 22 out of our 89 lows come from the Healthcare sector. The Healthcare sector is outperforming the market today, decreasing 0.62% so far on the day. Over the last month, the Healthcare sector has underperformed the market, decreasing 4.99% while the S&P decreased by 1.03%.
Healthcare: AMRX, ATHX, BAX, CDNA, CERS, CGEN, CRBP, CRL, CYH, EBS, FLGT, HZNP, IART, ITGR, ORGO, PETQ, PIRS, QDEL, TFX, UBX, XRAY, XXII
The Lists
The following stocks traded to 52-week highs:
The following stocks traded to 52-week lows:
ACCO, AMRX, ANF, ARW, ATHX, AVTR, BAX, BFAM, BRKL, BXP, BY, CCOI, CDNA, CERS, CEVA, CGEN, CLAR, CMCSA, CNA, CRBP, CRL, CUZ, CYH, DEI, DHC, DLX, EB, EBS, EEFT, EHTH, FLGT, FOSL, FSP, FTNT, GDOT, GRMN, HBI, HIW, HLIO, HNI, HZNP, IART, IDCC, INTC, IRT, ITGR, JBGS, KRC, KW, LBRDK, LL, MHK, MKTX, MMM, MTW, NEM, NXRT, OPI, ORGO, PBI, PETQ, PIRS, PRFT, PRO, QDEL, QUOT, RAMP, RNG, RPD, SLG, SMTC, SWK, TFX, TILE, TREE, TREX, TRUE, TSE, TTEC, UBX, UPLD, VNO, VZ, WBA, WU, WW, XRAY, XXII, ZUO
