S&P Markets Starting at a Low on Thursday
S&P Fluctuates between openings; Energy and Non-Cyclicals hold the advantage
The week has shown the S&P 500 (INDEXSP: .INX) shifting between channels often opening and closing at different levels. Overall the S&P 500 is at a lower level since the start of the week. On Thursday it opened at $2153.48 when it opened on Monday at $2160.25 after a drop from the week prior. In the morning session the price has remained somewhat stable not moving much to $2160.23 a 0.50% rise.
Energy and Non-Cyclical Goods are today’s winners
Energy rose today by around +0.42% where 12% of the companies listed rose by more than 2%. This resulted in excellent gains for the sector overall. The companies that were the best performers in energy were Farrellgas Partners , L.P. (NYSE:FGP) with a +0.94 (9.44%) surge to $10.90; Daqo New Energy Corp (NYSE:DQ) with a +1.49 (6.92%) rally to $23.02; and Contango Oil and Gas (NYSEMKT:MCF) following with a +0.62( (5.69%) rise to$11.51 in the S&P.
Non-Cyclical Goods also rose overall by around +0.53% where 8% of companies rose by more than 2%. Stocks by Proctor and Gamble Co(NYSE:PG) rose by +0.58(0.66%) to $89.43. Also Whole Foods Market INC. (NASDAQ:WFM) surged by 1.09(3.90%) to $29.04. The other big volume mover is PepsiCo ,Inc(NYSE:PEP) with a +0.30(0.28%) inclination $106.35.
Utilities and Industrials were the low performers
Utilities sector of the S&P 500 made only a +0.02% rise. Even so this is not an indictment on the sector as 66% of the companies rose above 2% meanwhile only 4% are down more than 2%.
Industrials sector of the S&P 500 lost -0.09%. The sector was struggling overall even since the start of the week.
The Biggest sectoral losses were suffered by Healthcare and Telecommunications
Healthcare sector of the S&P suffered a -0.50% loss where 17% of the companies suffered a loss greater than 2%. This loss is significant and follows a string of losses for the sector. The biggest losers in Healthcare were Alnylam Pharmaceuticals, Inc.(NASDAQ:ALNY) with -33.16(-47.17%) depression to $37.14; Idera Pharmaceuticals Inc. (NASDAQ:IDRA) -0.32(12.26%) slump to $2.29; and The Medicines Company (NASDAQ:MDCO) with -4.11(-10.67%) to drop to $34.40
The biggest gainer was ICU Medical, Incorporated (NASDAQ:ICUI) and it managed to gain +17.60(13.97%) to rise to $143.56.
The Telecommunications sector also fell by -0.46%, however there is something interesting in this sector. There was 8% as opposed to 6% of companies that rose instead of fell by more than 2%. Further analysis even shows that the gainers under this sector are less numerous than the losers but have greater gains.
The biggest gainer was Internet Gold Golden (NASDAQ:IGLD) which rose by +0.28(2.11%) to $13.55 since opening.
All other sectors within the S&P 500 went down since opening on Thursday.