S&P 500 Drops 0.92% Amid 3,529 Declines; Alphabet Soars 3.11% as Market Struggles
The S&P 500 index fell by 0.92% today and has dropped 2.61% over the past week, despite a slight recovery of 0.13% in the last month. The market displayed significant disparities, with only 959 stocks advancing against 3,529 declining. Alphabet, Inc. led large-cap stocks with a 3.11% gain, while Netflix plummeted by 90.08%. In mid-caps, Western Digital rose by 2.93%, contrasting with Expedia's 7.75% decline. Small-cap Zymeworks surged 29.05%, while Gibraltar Industries fell 20.3%, highlighting a challenging environment for most stocks across all market segments.
The S&P 500 index experienced a decline of 0.92% today, marking a more significant drop of 2.61% over the past five days. However, the index has shown a slight recovery, gaining 0.13% over the last 30 days. In the large-cap sector, Alphabet, Inc. emerged as the top performer with a return of 3.11%, while Netflix, Inc. faced a staggering decline of 90.08%. Mid-cap stocks saw Western Digital Corp. leading with a return of 2.93%, contrasting with Expedia Group, Inc., which fell by 7.75%.
Among small-cap stocks, Zymeworks, Inc. stood out with an impressive return of 29.05%, while Gibraltar Industries, Inc. struggled with a decline of 20.3%.
The overall market showed a significant imbalance in stock performance, with 959 stocks advancing compared to 3,529 declining, resulting in an advance-decline ratio of 0.27. This trend was mirrored in large-cap stocks, where 46 advanced against 187 that declined, yielding a ratio of 0.25. Mid-cap stocks had 47 advancing and 217 declining, with a ratio of 0.22, while small-cap stocks reported 187 advancing and 1,288 declining, resulting in a ratio of 0.15.
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