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Stocks Rise Wednesday as Highs Edge Out Lows Ahead of Fed Meeting

Wednesday, January 26, 2022 02:08 PM | Nick Dey
Stocks Rise Wednesday as Highs Edge Out Lows Ahead of Fed Meeting

During trading Wednesday, 32 stocks traded to a 52-week high, while 30 stocks bottomed out at new 52-week lows. The S&P 500 is up 1.58% so far today while the Dow is up 0.88%, the Nasdaq is up 2.53%, and the Russell 2000 is up 1.54%.

Stocks are on the rise ahead of the conclusion of the January Federal Reserve meeting. The Fed is expected to keep rates steady with a rate hike likely in March. Cryptos are up over the last 24 hours but have pared early gains with Bitcoin and Ethereum down 1% and 1.63% respectively, over the last hour. New Home Sales beat expectations this morning, climbing to an annualized rate of 811,000 in December. Lastly, Stride Inc is up 27.42% this morning after the company beat earnings and revenue estimates, while providing upside revenue guidance for both its third-quarter and full-year 2022.

Sector Highlights

Energy stocks dominated our list of highs today with 22 out of the 32 total stocks that reached their high coming from the Energy sector. The Energy sector is underperforming the market, increasing 1.26% so far on the day. Over the last month, the Energy sector has outperformed the market, increasing 19.13% while the S&P decreased 7.82%.

Energy: BKR, CDEV, CLR, COP, CQP, CVX, DVN, EGY, EOG, HAL, HES, MPLX, MRO, MUR, NEX, OXY, PDCE, SLB, TRGP, WES, WHD, XOM

Financial Services had the second-largest presence on our 52-week highs, with 4 out of 32 highs coming from the Financial Services sector. The Financial Services sector is underperforming the market today, increasing 0.97% so far on the day. Over the last month, the Financial Services sector has outperformed the market, decreasing 1.02% while the S&P decreased 7.82%.

Financial Services: CLBK, HAFC, HOPE, PGR

The Lists

The following stocks traded to 52-week highs:

ADM, BKR, CDEV, CLBK, CLR, COP, CQP, CVX, DVN, EGY, EOG, HAFC, HAL, HES, HOPE, MATX, MDRX, MPLX, MRO, MRTN, MUR, NEX, NFH, OXY, PDCE, PGR, SLB, TRGP, WES, WHD, WSR, XOM

The following stocks traded to 52-week lows:

AGCB, AJRD, ALXO, AXDX, CCAC, CHTR, CMPX, CRTX, EFTR, EGHT, ENNV, GATO, GCMG, GWH, HTLD, HYPR, ILMN, KORE, KVSC, MKTX, MNRO, NLSN, OPK, OTMO, PINS, PRPL, PWP, RBBN, ROL, SAM

The following ETFs traded to a 52-week high:

BNO, DBC, DIG, DJP, GSG, IXC, IYE, OIL, UGA, USO, XLE

The following ETFs traded to a 52-week low:

HYD, MUB

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