SPY Bounces Back with Windstream at the Lead
Markets Rebound after Fed Officials Give Heartening Commentary
SPY gained 0.52%
The SPDR S&P 500 ETF (SPY) rose by 0.52% on Monday, September 21, 2015. Investors’ spirits got a lift when four Fed officials commented on the strength of the US economy. Their speeches and interviews asserted that the US economy is capable of withstanding temporary global turbulence like the Chinese slowdown.
These comments restored confidence in the US stock market, and we saw a rise in all the component sectors of the SPY except the healthcare sector, which we’ll explore later in this series.
The graph below shows the performances of the component sectors of the SPDR S&P 500 ETF (SPY) for September 21, 2015.
From the graph, we can see the finance and the technology sector leading the SPY, whereas the healthcare sector bucked the trend. Now let’s look at the key players of the SPY.
Windstream led SPY by 4.19%
In the telecommunications industry, Windstream Holdings (WIN) saw a rise of 4.19% on September 21, 2015, after the previous day’s 3.89% fall. The trailing five-day return of WIN was 3%. The company’s stock traded at $7.21, which is above its 100-day, 50-day, and 20-day moving averages.
Windstream also crossed the analyst stock price target of $6.97 and hence seems optimistic. The company earned three “Buy,” 10 “Hold,” and four “Sell” recommendations. Its stock received a three-star rating from Morningstar, while the company still has a “BB-” rating, which means that it has an above-average default risk.
The other two stocks to join Windstream Holdings (WIN) in the top three are CarMax (KMX), from the automotive retail industry, and Owens-Illinois (OI), from the packaging and containers industry. These companies’ stocks returned 3.97% and 3.36%, respectively, on September 21, 2015.
Other leading stocks included Eastman Chemical Company (EMN), Adobe Systems (ADBE), and Baker Hughes (BHI), whose stocks gained 2.41%, 2.55%, and 2.36%, respectively, on the same day.
Let’s look at the healthcare sector performance on September 21, 2015, in the next part of this series.
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