Weekly Market Update: Stocks Gain 3.39% as Technology Rises and Energy Falls

Stock Market Update for the Trading Week Ended April 2

• The Morningstar US Market Index rose 3.39%.
• The best-performing sectors were technology, up 4.61%, and communication services, up 4.36%.
• The worst-performing sectors were energy, down 5.1%, and consumer defensives, up 0.72%.
• Large-cap stocks gained 3.59%, mid-cap stocks rose 2.82%, and small-cap stocks rose 3.03%.
• Growth stocks gained 4.47%, blend stocks gained 3.32%, and value stocks rose 1.57%.
• The S&P 500 gained 3.36%, and the Nasdaq rose 4.44%.
• Of the 837 US-listed companies covered by Morningstar, 673, or 80%, were up, one was unchanged, and 163, or 19%, were down.

Bonds and Commodities

• Yields on 10-year US Treasury notes fell to 4.31% from 4.44%.
• Yields on 2-year US Treasury notes fell to 3.79% from 3.88%.
• West Texas Intermediate crude prices rose 10.41% to $111.71 per barrel.
• Comex Gold prices rose 4.06% to $4,672.00.

Top Stock Gainers

Uniti Group UNIT, Alcoa AA, SBA Communications SBAC, Nio NIO, and Snapchat SNAP were the top performers among US-listed stocks covered by Morningstar analysts.

• Uniti topped the list, rising 30.96%, and it’s up 42.80% over the past three months. This no-moat company with a 2-star rating has increased 91.76% over the past 12 months. The stock closed the week at $10.32, trading at a 67% premium to its fair value estimate of $6 per share.
• Alcoa was the second-best performer, with a weekly return of 22.46%. The 2-star stock has gained 35.79% over the last three months. Shares in this no-moat company are up 140.41% over the past 12 months. Alcoa stock wrapped up the week at $71.53, trading at a 50% premium to its fair value estimate of $48.00 per share.
• SBA ranked third for the week, with its stock rising 22.18%. The 5-star, narrow-moat stock has fallen 10.66% over the last three months and fell 20.09% over the past 12 months. SBA closed at $204.11, trading at a 31% discount to its fair value estimate of $250.00 per share.
• The fourth-best-performing stock was no-moat Nio, which gained 18.42%. The 3-star stock has gained 21.57% over the last three months and is up 60.21% over the past 12 months. Nio finished the week at $6.30, trading near its fair value estimate of $6.10 per share.
• Snapchat stock climbed 17.81% in the latest week. This no-moat company has seen a decrease of 39.28% over the last three months and a decline of 45.13% over the past 12 months. The 4-star stock ended the week at $4.63 per share, trading at a 46% discount to its fair value estimate of $9.00.

Top Stock Losers

Venture Global VG, Nexstar Media Group NXST, Nike NKE, Restoration Hardware RH, and Sysco SYY did the worst among US-listed stocks covered by Morningstar analysts.

• Venture Global was the worst-performing stock of the week, falling 16.42%. This 3-star, no-moat company has risen 115.51% over the past three months and rose 47.48% over the past 12 months. The stock ended the week at $14.64, trading at a 13% premium to its fair value estimate of $13.00 per share.
• Nexstar took the second spot, with a 15.43% price decline this week. The no-moat company, rated 3 stars, has fallen 10.78% over the past three months but rose 4.46% over the past 12 months. Closing at $180.24, the stock trades at a 6% discount to its fair value estimate of $190.00 per share.
• Nike came in third, experiencing a 14.36% drop this week. This 5-star, wide-moat company has fallen 29.30% over the past three months and fell 28.58% over the past 12 months. The stock finished the week at $44.19, trading at a 56% discount to its fair value estimate of $102.00 per share.
• Next up is Restoration Hardware, which saw its stock price fall by 13.29% this week. The no-moat company with a 5-star rating has fallen 37.01% over the past three months and fell 52.79% over the past 12 months. At $113.46, the stock trades at a 62% discount to its fair value estimate of $295.00 per share.
• Sysco rounds out the list with a 13.02% decline this week. This 4-star, wide-moat company has fallen 1.33% over the past three months and fell 1.49% over the past 12 months. The stock closed the week at $71.16, trading at a 14% discount to its fair value estimate of $84.00 per share.

Highlights of This Week’s Market and Investing Events

• Monday, April 6: ISM Services PMI
• Tuesday, April 7: Durable Orders, Consumer Credit
• Wednesday, April 8: Minutes from the March Federal Open Market Committee Meeting
• Thursday, April 9: Initial Unemployment Insurance Claims, Personal Income and Outlays
• Friday, April 10: Consumer Price Index, University of Michigan Index of Consumer Sentiment