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Stocks Mostly Lower Tuesday; Industrial Production Picks Up, Retailer Earnings Top Estimates

Tuesday, August 16, 2022 03:25 PM | Nick Dey
Stocks Mostly Lower Tuesday; Industrial Production Picks Up, Retailer Earnings Top Estimates

During trading Tuesday, 84 stocks traded to a 52-week high, while 14 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.01% so far today while the Dow is up 0.56%, the Nasdaq is down 0.49%, and the Russell 2000 is down 0.14%.

Stocks are mostly lower Tuesday afternoon. Cryptos are lower.

Housing starts and building permits showed decreased activity in the housing market amidst rate hikes. Housing starts hit their lowest level since early 2021 in July, missing estimates for an annualized rate of 1.446 million starts. Permits were in line with estimates at a rate of 1.674 million.

Meanwhile, industrial production picked up in July, rising 0.6% following a 0.2% decline. Motor vehicle assembly was a brightspot for the report as it rose 5.5% month/month, which could point to an easing in the chip shortage's effect on the industry.

Retail giants reported today, including Walmart and Home Depot. Walmart Inc (WMT) is up 5.31% and Home Depot Inc (HD) is up 4.14% after the reports as the pair topped earnings and revenue estimates. Walmart eased retail investors nerves with upside guidance, despite noting that inflation has lowered demand for discretionary products.

Sector Highlights

Financial Services stocks dominated our list of highs today with 18 out of the 84 total stocks that reached their high coming from the Financial Services sector. The Financial Services sector is outperforming the market, increasing 0.59% so far on the day. Over the last month, the Financial Services sector has outperformed the market, increasing 15.55% while the S&P increased 13.37%.

Financial Services: ACT, AJG, BCOR, CONX, CPUH, CVBF, EZPW, GOAC, HFWA, MTB, NBTB, NWBI, PGR, PNTM, SCOA, TWND, UBSI, UNM

Industrials had the second-largest presence on our 52-week highs, with 16 out of 84 highs coming from the Industrials sector. The Industrials sector is outperforming the market today, increasing 0.38% so far on the day. Over the last month, the Industrials sector has outperformed the market, increasing 16.88% while the S&P increased 13.37%.

Industrials: ACA, ATI, BAH, CBZ, CECE, CSL, DY, EBF, HEI, HUBG, MLI, MRTN, NSSC, RSG, WM, WMS

The Lists

The following stocks traded to 52-week highs:

ACA, ACT, ADC, AEP, AJG, ALT, AN, ARLP, ATI, AVEO, AXL, AZO, BAH, BCOR, BDC, BF.B, CAL, CBZ, CCXI, CDNS, CECE, CHNG, CONX, CPUH, CSL, CTS, CVBF, CWEN, DBI, DOX, DY, EBF, EZPW, GEF, GLPI, GOAC, GOSS, GPC, HEI, HFWA, HRB, HUBG, KDNY, KDP, LNG, LTC, MCK, MGPI, MLI, MOD, MRTN, MTB, MUSA, NBTB, NFE, NSSC, NWBI, ORA, ORLY, OXM, PAG, PEP, PGR, PNTM, PPL, PUCK, QLYS, RSG, SANM, SCOA, SLGN, SO, SWCH, THS, TWND, UBSI, UNM, VERU, VRDN, WM, WMS, WWE, XEL

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

GLNG

The following stocks traded to 52-week lows:

ARGO, CRNC, ELAN, BBAI, POL, HBIO, FRGE, OLO, QTNT, RETA, SLGC, SMRT, SONO

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

LYLT

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