Market Wrap: Stocks Little-Changed as Energy and Technology Rise

Stock Market Update for the Trading Week Ended Sept. 4

• The Morningstar US Total Market Index rose 0.08%.
• The best-performing sectors were energy, up 2.33%, and technology, up 0.89%.
• The worst-performing sectors were consumer cyclicals, down 1.98%, and basic materials, down 1.27%.
• Large-cap stocks gained 0.11%, mid-cap stocks fell 0.29%, and small-cap stocks fell 0.26%.
• Growth stocks fell 0.28%, blend stocks gained 0.07%, and value stocks rose 0.49%.
• The S&P 500 gained 0.09%, and the Nasdaq rose 0.4%.
• Of the 887 US-listed companies covered by Morningstar, 385, or 43%, were up, two were unchanged, and 499, or 56%, were down.

Bonds and Commodities

• Yields on 10-year US Treasury notes rose to 4.77% from 4.73%.
• Yields on 2-year US Treasury notes rose to 4.37%.
• West Texas Intermediate crude prices rose 9.42% to $91.30 per barrel.
• Comex Gold prices rose 1.26% to $4,510.00.

Top Stock Gainers

IREN IREN, CNH Industrial CNH, Bloom Energy BE, AGCO AGCO, and Sandisk SNDK were the top performers among US-listed stocks covered by Morningstar analysts.

• IREN topped the list, rising 26.13%, but it’s down 36.39% over the past three months. This no-moat company with a 3-star rating has increased 47.64% over the past 12 months. The stock closed the week at $44.68, trading near its fair value estimate of $43.00 per share.
• CNH was the second-best performer, with a weekly return of 23.29%. The 5-star stock has gained 25.36% over the last three months. Shares in this narrow-moat company are up 24.24% over the past 12 months. CNH stock wrapped up the week at $14.40, trading at a 34% discount to its fair value estimate of $21.00 per share.
• Bloom ranked third for the week, rising 19.97%. The 2-star, no-moat stock has fallen 18.02% over the last three months but gained 349.09% over the past 12 months. Bloom stock closed at $252.87, trading at a 143% premium to its fair value estimate of $97.00 per share.
• The fourth-best-performing stock was no-moat AGCO, which gained 17.65%. The 4-star stock has gained 5.43% over the last three months and is up 17.66% over the past 12 months. AGCO finished the week at $133.40, trading at a 12% discount to its fair value estimate of $143.00 per share.
• Sandisk stock climbed 17.21% in the latest week. This no-moat company has decreased 15.10% over the last three months but is up 2,833.39% over the past 12 months. The 2-star stock ended the week at $1,740 per share, trading at a 55% premium to its fair value estimate of $1,000.

Top Stock Losers

Guidewire Software GWRE, Fair Isaac FICO, Edison International EIX, MongoDB MDB, and Rapid7 RPD did the worst among US-listed stocks covered by Morningstar analysts.

• Guidewire was the worst-performing stock of the week, falling 21.1%. This 3-star, wide-moat company has risen 30.87% over the past three months but fell 7.48% over the past 12 months. The stock ended the week at $162.42, trading at an 8% discount to its fair value estimate of $220.00 per share.
• Fair Isaac took the second spot, with a 19.11% price decline this week. The wide-moat company, rated 4 stars, has fallen 4.74% over the past three months and is down 26.42% over the past 12 months. Closing at $932.26, the stock trades at a 30% discount to its fair value estimate of $1,600.00 per share.
• Edison came in third, experiencing a 19.1% drop this week. This 5-star, narrow-moat company has fallen 19.31% over the past three months but rose 7.97% over the past 12 months. The stock finished the week at $56.77, trading at a 30% discount to its fair value estimate of $81.00 per share.
• Next up is MongoDB, which fell 17.44% this week. The no-moat company with a 3-star rating has risen 4.38% over the past three months and is up 22.87% over the past 12 months. At $368.74, the stock trades at a 15% premium to its fair value estimate of $335.00 per share.
• Rapid7 rounds out the list with a 17.29% decline this week. This 3-star, no-moat company has risen 49.64% over the past three months but fell 43.83% over the past 12 months. The stock closed the week at $11, trading at a 15% premium to its fair value estimate of $10 per share.

Highlights of This Week’s Market and Investing Events

• Tuesday, Sept. 8: July Consumer Credit
• Thursday, Sept. 10: Initial Unemployment Insurance Claims, August Producer Price Index report, August Existing Home Sales, earnings from Macy’s M, Adobe ADBE, Oracle ORCL
• Friday, Sept. 11: August Consumer Price Index