S&P 500 tops previous record

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Urban One Inc. (UONE), Evofem Biosciences Inc. (EVFM), Biogen Inc. (BIIB), Monday.com (MNDY) and Marqeta Inc. (MQ).

  • Urban One Inc. (UONE) shares continued to soar amid investor anticipation of Juneteenth, which celebrates the emancipation of slaves in the US, following the minority-owned multimedia company’s run-up last year. 
  • Evofem Biosciences Inc. (EVFM) shares jumped following bullish analysis reports, including news that Morgan Stanley had purchased a stake in the women’s health biopharmaceutical company.
  • Biogen Inc. (BIIB) shares soared nearly 50% in a single trading session after the Food and Drug Administration (FDA) approved the biotech company’s controversial Alzheimer’s drug. 
  • Monday.com (MNDY) kicked off its initial public offering (IPO) to strong investor demand, which resulted in shares of the workplace management software company skyrocketing.
  • Marqeta Inc. (MQ) also had a successful trading debut, which saw shares of the payments infrastructure company surge more than 30% above their IPO price.

NASDAQ TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Urban One Inc. (UONE)7.52 (+57.58%)20.58Services
Evofem Biosciences Inc. (EVFM)0.3846 (+44.44%)1.25Consumer goods
Biogen Inc. (BIIB) 110.50 (+38.62%)396.64Healthcare
Monday.com (MNDY)49.31 (+35.22%)189.31Technology
Marqeta Inc. (MQ)7.50 (+31.25%)31.50Financial

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Signet Jewelers Ltd. (SIG), Cleveland-Cliffs Inc. (CLF.US), Blue Apron Holdings Inc. (APRN), Asana (ASAN) and Covanta Holdings (CVA).

  • Shares of Signet Jewelers Ltd. (SIG) skyrocketed after the specialty retail jeweler released first-quarter fiscal 2022 financial results.
  • Cleveland-Cliffs Inc. (CLF.US) shares surged as Reddit investors jumped on the steel mill and iron ore supplier stock, possibly tied to a rise in iron ore prices.
  • Blue Apron Holdings Inc. (APRN) shares were up, registering a 6-day streak of gains for the meal kit delivery company.
  • Asana (ASAN) shares popped after the workplace management specialist’s President, CEO, & Chair Dustin A. Moskovitz bought $17.4 million worth of stock.
  • Covanta Holdings (CVA) shares spiked on rumours that the waste management company was being pursued by several potential buyers.

NYSE TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Signet Jewelers Ltd. (SIG)15.88 (+26.97%)74.75Services
Cleveland-Cliffs Inc. (CLF.US)4.57 (+23%)24.44Basic Materials
Blue Apron Holdings Inc. (APRN)0.97 (+18.91%)6.10Consumer Goods
Asana (ASAN)7.28 (+18.58%)47.76Services
Covanta Holdings (CVA)2.75 (+18.46%)17.65Utilities

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Curis Inc. (CRIS), Ocugen Inc. (OCGN), Canaan Inc. (CAN), Gogo Inc. (GOGO) and CureVac NV (CVAC).

  • Curis Inc. (CRIS) shares tanked after the cancer drug specialist reported some worrisome news about clinical trials of its leading pipeline drug.
  • Ocugen Inc. (OCGN) shares crashed after the biotech company announced that it was no longer pursuing  Emergency Use Authorisation (EUA) for its Covaxin coronavirus vaccine candidate.
  • Canaan Inc. (CAN) shares dropped due to continued uncertainty about the cryptocurrency mining company’s revenues.
  • Gogo Inc. (GOGO) shares dropped after the in-flight Wi-Fi provider’s CAO sold over $96,000 in stock.
  • CureVac NV (CVAC) shares declined after a week of growing worry around the delayed progress of the German biotech company’s Covid-19 vaccine.

NASDAQ WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Curis Inc. (CRIS)-4.67 (-36.83%) 8.01Consumer Goods
Ocugen Inc. (OCGN)-2.38 (-27.29%)6.34Consumer Goods
Canaan Inc. (CAN)-2.25 (-20.51%) 8.72Technology
Gogo Inc. (GOGO)-2.74 (-19.12%)11.59Services
CureVac NV (CVAC)-18.29 (-15.75%)97.82Healthcare

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, CVR Energy (CVI.N), Louisiana-Pacific Corp (LPX), United Natural Foods Inc. (UNFI), Caterpillar (CAT) and Semrush Holdings Inc. (SEMR) stocks all experienced negative movement over the past week.

  • CVR Energy (CVI.N) shares plummeted when the petroleum refiner’s plans to make a special distribution of cash and stock related to its investment in Delek US Holdings, announced last month, took effect.
  • Shares of building products manufacturer Louisiana-Pacific Corp (LPX) and construction machinery giant Caterpillar (CAT) slid along with a general downward trend in the construction sector.
  • United Natural Foods Inc. (UNFI) shares tumbled after the natural foods wholesaler posted disappointing third-quarter earnings as compared to last year, when sales had spiked amid COVID-19 lockdowns.
  • Semrush Holdings Inc. (SEMR), whose shares plunged by nearly 20% on the digital marketing tools provider’s first day of trading nearly two months ago, dipped once again.

NYSE WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
CVR Energy (CVI.N)-3.97 (-17.26%)19.03Basic Materials
Louisiana-Pacific Corp (LPX)-6.60 (-10.12%)58.61Industrial Goods
United Natural Foods Inc. (UNFI)-3.89 (-9.90%)35.41Services
Caterpillar (CAT)-23.32 (-9.56%)220.70Industrial Goods
Semrush Holdings Inc. (SEMR)-1.86 (-9.46%)17.80Technology

Highlights and Lowlights

The major US indexes continued to hover near previous highs, with the SPX500 rising 0.4% to break its previous record on Thursday. The DJ30 retreated a modest -0.8%, while NSDQ100 outperformed both of its peers with a 1.9% gain for the week.

New unemployment benefits claims fell to the lowest level recorded since the pandemic. The weekly index showing consumer sentiment was higher than expected as optimism about future economic growth and employment grows.  

What’s in Store for the Week?

Inflation is likely to be the foremost concern for investors as Fed policymakers hold a two-day meeting this coming week, wrapping up on Wednesday. Although the Fed is expected to keep benchmark interest rates unchanged, the recent rise in consumer prices could still warrant a tightening of other monetary policies.

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