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.
