Home Stocks More than half of S&P 500 stocks are now in a bear market – MarketWatch

More than half of S&P 500 stocks are now in a bear market – MarketWatch

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Even after the recent pain in the stock market, the S&P 500 Index is down only 3% in 2018 (excluding dividends). That’s not so bad when you consider the benchmark index rose 19% in 2017.

Still, more than half of the stocks in the index are in bear-market territory, showing how broad the decline has been.

A correction is typically defined as a 10% drop for a stock or an index from a recent peak, while a bear market is a 20%-plus decrease. Data supplied by FactSet show that 264 (53%) of S&P 500

SPX, -0.84%

 companies are in bear markets.

Most broad indices in correction territory

Here’s where the broad indices were as of the close on Dec. 14, when compared with their 52-week intraday highs:

Index Decline from 52-week intraday high
Dow Jones Industrial Average

DJIA, -0.88%

-10.6%
Nasdaq Composite Index

COMP, -0.68%

-15.0%
S&P 500 Index

SPX, -0.84%

-11.6%
S&P 400 Mid Cap Index

MID, -0.46%

-15.6%
S&P 600 Small Cap Index 

SML, -0.65%

-20.2%
S&P Composite 1500 Index -11.8%
Source: FactSet

So all of these broad indices were in correction territory as of the close on Dec. 14, except for the S&P 600 Small Cap

SML, -0.65%

which was in bear territory. 

Digging further

For the broad S&P indices, here’s the percentage of stocks in all the above indices in correction and bear territory as of the close on Dec. 14, as well as those that are down at least 50% from 52-week intraday highs:

Index Share of stocks down at least 10% Share of stocks down at least 20% Share of stocks down at least 50%
S&P 500 Index

SPX, -0.84%

77% 53% 3%
S&P 400 Mid Cap Index

MID, -0.46%

86% 68% 10%
S&P 600 Small Cap Index 

SML, -0.65%

92% 73% 18%
S&P Composite 1500 Index 85% 65% 11%
Source: FactSet
S&P 500 breakdowns

Here’s how the 11 S&P 500 sectors stood compared with their 52-week intraday highs as of the close Dec. 14:

S&P 500 Sector Decline from 52-week high
Energy  -21.3%
Materials  -20.4%
Financials  -20.1%
Industrials  -17.3%
Information Technology  -15.3%
Communication Services  -14.6%
Consumer Discretionary  -14.0%
Consumer Staples  -8.2%
Health Care  -7.3%
Real Estate -3.2%
Utilities  -0.3%
Source: FactSet

It is fascinating to see the utilities sector faring so well this year.

Worst decliners from 52-week highs

Here are the 16 S&P 500 stocks that were down at least 50% from their 52-week intraday highs through Dec. 14:

Company Ticker Industry Decline from 52-week high Market capitalization ($mil)
Nektar Therapeutics

NKTR, -2.66%

Biotechnology -67% $6,319
Coty Inc. Class A

COTY, -3.28%

Household/Personal Care -66% $5,490
Western Digital Corp.

WDC, +0.62%

Computer Peripherals -64% $11,224
General Electric Co.

GE, +0.52%

 

Industrial Conglomerates -63% $61,757
Mohawk Industries Inc.

MHK, -0.11%

Home Furnishings -59% $8,680
Newfield Exploration Co.

NFX, +0.27%

Oil & Gas Production -58% $2,945
Affiliated Managers Group Inc.

AMG, +0.74%

Investment Managers -56% $5,031
Invesco Ltd.

IVZ, +1.27%

Investment Managers -56% $6,972
IPG Photonics Corp.

IPGP, -0.58%

Electronic Equipment/Instruments -55% $6,301
Brighthouse Financial Inc.

BHF, +1.63%

Life/Health Insurance -53% $3,787
PG&E Corp.

PCG, -5.54%

Electric Utilities -52% $13,491
Schlumberger NV

SLB, +0.87%

Oilfield Services/Equipment -51% $54,146
L Brands Inc.

LB, -2.22%

Apparel/Footwear Retail -51% $8,482
Michael Kors Holdings Ltd.

KORS, +0.63%

Apparel/Footwear Retail -50% $5,700
Nvidia Corp.

NVDA, -0.42%

Semiconductors -50% $89,335
Halliburton Co.

HAL, +0.64%

Oilfield Services/Equipment -50% $25,405
Source: FactSet

You can click the tickers for more about each company, including news, charts, estimates, financials and ratings.

Biggest bears

The S&P indices are weighted by market capitalization, which explains why the FAANG stocks — Facebook

FB, -0.10%

Amazon.com

AMZN, -2.57%

Apple

AAPL, +0.51%

Netflix

NFLX, +0.52%

 and Google holding company Alphabet

GOOG, -0.02%

GOOGL, +0.09%

 — have been so important during the long bull market. All were in bear markets through Dec. 14, except for Alphabet. The company’s class A shares were down 19% from their 52-week intraday high, while the class C shares were down 18%.

Here are the 15 largest S&P 500 companies by market capitalization that were in bear territory as of the close Dec. 14:

Company Ticker Industry Decline from 52-week high Market capitalization ($mil)
Apple Inc.

AAPL, +0.51%

Telecommunications Equipment -29% $785,268
Amazon.com Inc.

AMZN, -2.57%

Internet Retail -22% $778,395
Facebook Inc. Class A

FB, -0.10%

Internet Software/Services -34% $346,099
Bank of America Corp

BAC, +1.14%

Major Banks -26% $240,252
AT&T Inc.

T, -1.24%

Major Telecommunications -23% $219,941
Wells Fargo & Co.

WFC, +0.75%

Major Banks -30% $219,075
Home Depot Inc.

HD, -1.22%

Home Improvement Chains -20% $194,606
Citigroup Inc.

C, +0.51%

Financial Conglomerates -32% $134,366
AbbVie Inc.

ABBV, +0.29%

Pharmaceuticals: Major -32% $128,776
Philip Morris International Inc.

PM, -0.92%

 

Tobacco -26% $128,248
DowDuPont Inc.

DWDP, -0.59%

Chemicals: Major Diversified -32% $121,090
Netflix Inc.

NFLX, +0.52%

Cable/Satellite TV -37% $116,365
3M Co.

MMM, +0.01%

Industrial Conglomerates -25% $114,186
International Business Machines Corp.

IBM, -1.75%

Information Technology Services -30% $108,964
Altria Group Inc

MO, +0.11%

 

Tobacco -29% $99,082
Source: FactSet

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