During trading Friday, 61 stocks traded to a 52-week high, while 40 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.97% so far today while the Dow is up 0.84%, the Nasdaq is up 1.33%, and the Russell 2000 is up 1.31%.
Stocks are higher Friday following a better-than-expected PCE report that showed cooling inflation and spending. Core and headline PCE prices rose 0.3% against estimates for a 0.4% rise. Meanwhile, spending rose 0.2% against estimates for 0.3%, while income met expectations for a 0.3% rise. While the report was encouraging for markets hoping for an end to further rate hikes, core PCE had a light decline on a year-over-year basis that is worth noting.
Y-mAbs Therapeutics Inc (YMAB) is up 53.8% after the biotech firm posted an unexpected profit per share on higher revenues while reiterating 2023 guidance. Further, the company announced a $150 million mixed-shelf securities offering.
Meanwhile, Digital World Acquisition Corp (DWAC) is up 6.12% after former President Donald Trump was indicted.
Sector Highlights
Technology stocks dominated our list of highs today with 20 out of the 61 total stocks that reached their high coming from the Technology sector. The Technology sector is outperforming the market, increasing 1.02% so far on the day. Over the last month, the Technology sector has outperformed the market, increasing by 9.06% while the S&P increased by 1.72%.
Technology: AI, ALTR, ANSS, BLKB, CDNS, CTS, DAKT, DUOL, FOUR, IMMR, INTA, MSI, NSIT, ORCL, PDFS, RELY, RMBS, SQSP, VERX, YEXT
Consumer Cyclical had the second-largest presence on our 52-week highs, with 10 out of 61 highs coming from the Consumer Cyclical sector. The Consumer Cyclical sector is outperforming the market today, increasing 2.15% so far on the day. Over the last month, the Consumer Cyclical sector has underperformed the market, increasing by 0.32% while the S&P increased by 1.72%.
Consumer Cyclical: BKNG, CHDN, CPRT, DRI, GPK, MELI, SKY, TMHC, TXRH, ULTA
The Lists
The following stocks traded to 52-week highs:
AAON, AI, ALDX, ALTR, ANSS, APGB, AXON, BKNG, BLKB, BRBR, BRKR, BSX, CCEP, CDNS, CHDN, CLH, COTY, CPRT, CTS, DAKT, DRI, DUOL, ELF, FCNCA, FOUR, FTAI, GE, GGG, GPK, HSTM, HSY, HY, IMMR, INTA, LW, MELI, MNST, MSI, MUX, MYRG, NSIT, ORCL, PDFS, PERI, PGTI, PRVB, RELY, RMBS, SGEN, SKY, SPNT, SQSP, STVN, SYK, TMHC, TXRH, ULTA, VERX, VKTX, WOR, YEXT
The following stocks traded to 52-week lows:
ADV, AGFY, AGLE, AMTI, ARVL, AVYAQ, BBBY, BBIG, BMRC, CANO, CKPT, CLOV, CYXT, EIGR, FSP, GAN, HRTX, HTBK, INFI, IPSC, JOAN, CXAI, KZR, LMDX, LYLTQ, MMAT, VORB, NKLA, OCGN, MVLA, PRAX, SFT, SYRS, TCDAQ, UP, VERU
The following stocks recently reported earnings and are at a 52-week low:
