Dell and Snowflake are the top performers, while Zscaler and Boston Scientific did the worst.
Stock Market Update for the Trading Week Ended May 29
- The Morningstar US Market Index rose 1.52%.
- The best-performing sectors were technology, up 4.5%, and basic materials, up 1.74%.
- The worst-performing sectors were energy, down 5.31%, and consumer defensives, down 3.09%.
- Large-cap stocks gained 1.61%, mid-cap stocks rose 1.31%, and small-cap stocks rose 1.05%.
- Growth stocks gained 3.03%, blend stocks gained 1.79%, and value stocks fell 0.72%.
- The S&P 500 gained 1.43%, and the Nasdaq rose 2.39%.
- Of the 875 US-listed companies covered by Morningstar, 463, or 53%, were up, none were unchanged, and 412, or 47%, were down.
Bonds and Commodities
- Yields on 10-year US Treasury notes fell to 4.45% from 4.56%.
- Yields on 2-year US Treasury notes fell to 3.98% from 4.13%.
- West Texas Intermediate crude prices fell 9.35% to $87.93 per barrel.
- Comex Gold prices rose 0.75% to $4,544.30.
Top Stock Gainers
Snowflake SNOW, Dell Technologies DELL, Okta OKTA, Micron Technology MU, and Robinhood HOOD were the top performers among US-listed stocks covered by Morningstar analysts.
- Snowflake topped the list, rising 48.24%, and it’s up 42.03% over the past three months. This no-moat company with a 3-star rating has increased 17.03% over the past 12 months. The stock closed the week at $255.37, trading at a 6% discount to its fair value estimate of $255.00 per share.
- Dell was the second-best performer, with a weekly return of 42.59%. The 1-star stock has gained 114.53% over the last three months. Shares in this no-moat company are up 180.61% over the past 12 months. Dell stock wrapped up the week at $420.91, trading at a 105% premium to its fair value estimate of $155.00 per share.
- Okta ranked third for the week, with its stock rising 33.64%. The 4-star, no-moat stock has gained 30.65% over the last three months but has fallen 9.98% over the past 12. Okta stock closed at $123.27, trading at a 5% discount to its fair value estimate of $100.00 per share.
- The fourth-best-performing stock was no-moat Micron, which gained 29.41%. The 1-star stock has gained 123.99% over the last three months and 860.71% over the past 12. Micron finished the week at $971.56, trading at a 103% premium to its fair value estimate of $455.00 per share.
- Robinhood stock climbed 28.12% in the latest week. This narrow-moat company has seen an increase of 11.85% over the last three months and 30.24% over the past 12. The 2-star stock ended the week at $94.35 per share, trading at a 63% premium to its fair value estimate of $52.00.
Top Stock Losers
Zscaler ZS, Boston Scientific BSX, AutoZone AZO, Venture Global VG, and SentinelOne S did the worst among US-listed stocks covered by Morningstar analysts.
- Zscaler was the worst-performing stock of the week, falling 23.35%. This 4-star, narrow-moat company has fallen 11.53% over the past three months and 48.73% over the past 12. The stock ended the week at $139.78, trading at a 48% discount to its fair value estimate of $250.00 per share.
- Boston Scientific took the second spot, with a 16.36% decline this week. The narrow-moat company, rated 5 stars, has fallen 36.10% over the past three months and 53.01% over the past 12. Closing at $48.33, the stock trades at a 39% discount to its fair value estimate of $81.00 per share.
- AutoZone came in third, experiencing a 13.84% drop this week. This 3-star, wide-moat company has fallen 19.93% over the past three months and 19.69% over the past 12. The stock finished the week at $2935.19, trading near its fair value estimate of $3,000.00 per share.
- Next up is Venture Global, which saw its stock fall by 13.09% this week. The no-moat company with a 3-star rating has risen 29.60% over the past three months and 5.25% over the past 12. At $12.02, the stock trades at a 10% discount to its fair value estimate of $14.00 per share.
- SentinelOne rounds out the list with a 11.6% decline this week. This 3-star, no-moat company has risen 37.35% over the past three months but has fallen 8.39% over the past 12. The stock closed the week at $16.54, trading at a 13% premium to its fair value estimate of $16.00 per share.
Highlights of This Week’s Market and Investing Events
- Monday, June 1: April Construction Spending (month to month), May ISM Manufacturing
- Tuesday, June 2: April Job Openings and Labor Turnover Survey
- Wednesday, June 3: May ADP Employment Survey, May ISM Services PMI, Federal Reserve Beige Book, earnings from Macy’s M, Broadcom AVGO
- Thursday, June 4: Initial Unemployment Insurance Claims report for the week ended May 30, earnings from Lululemon Athletica LULU
- Friday, June 5: May Employment Situation Report, April Consumer Credit
This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.
Source: Yahoo Finance