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.
This post was originally published on Market Watch
