During trading Wednesday, 40 stocks traded to a 52-week high, while 90 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.57% so far today while the Dow is up 0.24%, the Nasdaq is up 0.08%, and the Russell 2000 is down 0.73%.
Stocks turned mixed Wednesday afternoon. The ISM Manufacturing index increased to a reading of 61.1%, edging out estimates and increasing from September's slump to 60.8%. Meanwhile, the ADP Employment Change showed more jobs added to the private sector during November than expected, adding 534,000 jobs against estimates for 515,000 jobs. Lastly, Zscaler (ZS) is down 7.33% despite its earnings report garnering several price target increases after the company provided underwhelming earnings guidance for both its second-quarter and full-year 2022.
Sector Highlights
Technology stocks dominated our list of highs today with 18 out of the 40 total stocks that reached their high coming from the Technology sector. The Technology sector is outperforming the market, increasing 0.58% so far on the day. Over the last month, the Technology sector has outperformed the market, increasing 4.23% while the S&P decreased 0.83%.
Ambarella (AMBA) is up 19.12% after the company beat earnings and revenue estimates while providing upside fourth-quarter guidance.
Technology: AAPL, ACLS, AIP, AMBA, AOSL, DSPG, EXTR, HPQ, KLAC, LRCX, MCHP, MTTR, NXPI, ON, ONTO, SITM, SYNA, TER,
The Healthcare sector makes up the minority of our 52-week highs, as 3 out of our 40 52-week highs come to us from the Healthcare sector. The Healthcare sector is outperforming the market today, increasing 1.13% so far on the day. Over the last month, the Healthcare sector has underperformed the market, decreasing 3.13% while the S&P decreased 0.83%.
Healthcare: AMGN, AVAH, BBLN, BTAI, BYSI, CSII, CTIC, EAR, FIXX, GBIO, ICAD, IONS, KALV, MBIO, MYOV, NBIX, NKTX, NVTA, OLMA, OSCR, PETQ, PRGO, QTRX, SPPI, TDOC, TFX, TNXP
