What a difference a day can make, especially when there’s a surprising economic report that soothes investors’ fears.
Stocks that had been among the worst performers of 2022 are rising the most today after a closely followed inflation gauge rose less than expected.
The Consumer Price Index climbed 0.4% during October from the previous month, according to the Bureau of Labor Statistics. That was lower than the 0.6% expected by economists polled by the Wall Street Journal. The year-over-year CPI increase of 7.7% was an improvement from 8.2% in September.
These numbers caused yields on two-year and 10-year U.S. Treasury securities to show their largest one-day declines in over a decade amid strong buying activity.
The euphoria carried over to the stock market. The Dow Jones Industrial Average
DJIA
was up 926 points, or 2.8%, at 11 a.m. ET to 33,439.81, while the S&P 500
SPX
soared 4.4% and the Nasdaq Composite Index
COMP
fared even better, with a 5.8% increase.
All 11 sectors of the S&P 500 were up significantly, led by the consumer discretionary sector, which includes Amazon.com Inc.
AMZN.
The stock surged 13.4%.
|
Index
|
Nov. 10 price change
|
2022 price change
|
|
Consumer Discretionary
|
7.5%
|
-31.6%
|
|
Real Estate
|
6.8%
|
-25.9%
|
|
Information Technology
|
6.1%
|
-26.7%
|
|
Materials
|
5.3%
|
-11.6%
|
|
Communication Services
|
5.2%
|
-39.9%
|
|
Financials
|
3.9%
|
-10.2%
|
|
Utilities
|
3.7%
|
-4.9%
|
|
Industrials
|
3.6%
|
-6.5%
|
|
Energy
|
2.2%
|
64.3%
|
|
Consumer Staples
|
1.8%
|
-5.3%
|
|
Health Care
|
1.7%
|
-5.3%
|
|
S&P 500
|
4.4%
|
-17.9%
|
|
Source: FactSet
|
All price changes in this article exclude dividends. Six leading sectors on Nov. 10 were still showing double-digit declines for 2022, as was the benchmark S&P 500.
Among the S&P 500, 95% of stocks were up as of 11 a.m. ET. Here are the trading session’s 20 best performers in the benchmark index at that time:
|
Company
|
Ticker
|
Nov. 10 price change
|
2022 price change
|
Decline from 52-week intraday high
|
Date of 52-week intraday high
|
|
Lennar Corp. Class A
|
LEN
|
14.2%
|
-22.8%
|
-23.7%
|
12/13/2021
|
|
SVB Financial Group
|
SIVB
|
14.0%
|
-65.0%
|
-68.9%
|
11/16/2021
|
|
Mohawk Industries Inc.
|
MHK
|
13.8%
|
-44.2%
|
-47.1%
|
01/05/2022
|
|
PulteGroup Inc.
|
PHM
|
13.7%
|
-23.2%
|
-24.5%
|
01/13/2022
|
|
T. Rowe Price Group
|
TROW
|
13.7%
|
-38.1%
|
-45.3%
|
11/09/2021
|
|
Amazon.com Inc.
|
AMZN
|
13.4%
|
-41.4%
|
-48.1%
|
11/19/2021
|
|
Etsy Inc.
|
ETSY
|
12.7%
|
-51.1%
|
-65.2%
|
11/26/2021
|
|
Ceridian HCM Holding Inc.
|
CDAY
|
12.3%
|
-40.3%
|
-50.1%
|
11/09/2021
|
|
Capital One Financial Corp.
|
COF
|
12.2%
|
-21.5%
|
-29.9%
|
01/18/2022
|
|
Caesars Entertainment Inc.
|
CZR
|
12.2%
|
-48.5%
|
-54.8%
|
11/15/2021
|
|
Invesco Ltd.
|
IVZ
|
12.2%
|
-22.5%
|
-32.6%
|
11/15/2021
|
|
Advanced Micro Devices Inc.
|
AMD
|
12.0%
|
-53.3%
|
-59.2%
|
11/30/2021
|
|
Autodesk Inc.
|
ADSK
|
11.9%
|
-22.5%
|
-35.1%
|
11/17/2021
|
|
Fortune Brands Home & Security Inc.
|
FBHS
|
11.9%
|
-39.2%
|
-40.5%
|
11/16/2021
|
|
D.R. Horton Inc.
|
DHI
|
11.8%
|
-22.2%
|
-23.6%
|
12/13/2021
|
|
Pool Corp.
|
POOL
|
11.7%
|
-40.7%
|
-42.4%
|
11/19/2021
|
|
First Republic Bank
|
FRC
|
11.5%
|
-39.4%
|
-43.9%
|
11/17/2021
|
|
Masco Corp.
|
MAS
|
11.3%
|
-28.6%
|
-29.4%
|
01/04/2022
|
|
Celanese Corp.
|
CE
|
11.3%
|
-39.2%
|
-42.1%
|
01/05/2022
|
|
Generac Holdings Inc.
|
GNRC
|
11.1%
|
-69.4%
|
-76.8%
|
11/22/2021
|
|
Source: FactSet
|
Click on the tickers for more about each company.
Read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
Don’t miss: Semiconductor stocks have bounced from 2022 lows — and analysts expect upside of at least 28% in the next year
These 20 stocks, including Amazon, are up as much as 14% as investors cheer latest inflation data
What a difference a day can make, especially when there’s a surprising economic report that soothes investors’ fears.
Stocks that had been among the worst performers of 2022 are rising the most today after a closely followed inflation gauge rose less than expected.
The Consumer Price Index climbed 0.4% during October from the previous month, according to the Bureau of Labor Statistics. That was lower than the 0.6% expected by economists polled by the Wall Street Journal. The year-over-year CPI increase of 7.7% was an improvement from 8.2% in September.
These numbers caused yields on two-year and 10-year U.S. Treasury securities to show their largest one-day declines in over a decade amid strong buying activity.
The euphoria carried over to the stock market. The Dow Jones Industrial Average
DJIA
was up 926 points, or 2.8%, at 11 a.m. ET to 33,439.81, while the S&P 500
SPX
soared 4.4% and the Nasdaq Composite Index
COMP
fared even better, with a 5.8% increase.
All 11 sectors of the S&P 500 were up significantly, led by the consumer discretionary sector, which includes Amazon.com Inc.
AMZN.
The stock surged 13.4%.
All price changes in this article exclude dividends. Six leading sectors on Nov. 10 were still showing double-digit declines for 2022, as was the benchmark S&P 500.
Among the S&P 500, 95% of stocks were up as of 11 a.m. ET. Here are the trading session’s 20 best performers in the benchmark index at that time:
Click on the tickers for more about each company.
Read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
Don’t miss: Semiconductor stocks have bounced from 2022 lows — and analysts expect upside of at least 28% in the next year
Read More:These 20 stocks, including Amazon, are up as much as 14% as investors cheer latest inflation data
2022-11-10 16:52:00