Morningstar

Weekly Market Update: Stocks Down as Consumer Defensives Climb and Technology Tumbles

CoreWeave and Nebius are among the week’s worst-performing stocks.

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The CoreWeave logo is seen displayed on a smartphone screen.
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Securities in This Article
Zions Bancorp NA
(ZION)
GE Aerospace
(GE)
Meta Platforms Inc Class A
(META)
PG&E Corp
(PCG)
AT&T Inc
(T)

Stock Market Update for the Trading Week Ended Oct. 16

  • The Morningstar US Total Market Index fell 2.07%.
  • The best-performing sectors were consumer defensive, up 5.06%, and energy, up 4.58%.
  • The worst-performing sectors were technology, down 6.49%, and industrials, down 1.9%.
  • Large-cap stocks fell 2.06%, mid-cap stocks fell 0.9%, and small-cap stocks fell 1.83%.
  • Growth stocks fell 4.35%, blend stocks fell 2.04%, and value stocks rose 0.96%.
  • The S&P 500 fell 1.95%, and the Nasdaq fell 4.48%.
  • Of the 872 US-listed companies covered by Morningstar, 577, or 66%, were up, none were unchanged, and 294, or 34%, were down.

Bonds and Commodities

  • Yields on 10-year US Treasury notes fell to 5.09% from 5.24%.
  • Yields on 2-year US Treasury notes fell to 4.74% from 4.80%.
  • West Texas Intermediate crude prices rose 11.01% to $101.75 per barrel.
  • Comex Gold prices fell 0.34% to $4,177.00.

Top Stock Gainers

Bath & Body Works BBWI, Fair Isaac FICO, Wipro WIT, Infosys INFY, and TransUnion TRU were the top performers among US-listed stocks covered by Morningstar analysts.

  • Bath & Body Works topped the list, rising 16.26%, but it’s down 0.10% over the past three months. This no-moat company with a 5-star rating has decreased 17.67% over the past 12 months. The stock closed the week at $20.16, trading at a 62% discount to its fair value estimate of $54.00 per share.
  • Fair Isaac was the second-best performer, with a weekly return of 15.52%. The 4-star stock has lost 36.15% over the last three months. Shares in this wide-moat company are down 52.96% over the past 12 months. Fair Isaac stock wrapped up the week at $771.19, trading at a 21% discount to its fair value estimate of $970.00 per share.
  • Wipro ranked third for the week, with its stock rising 14.37%. The 2-star, no-moat stock has gained 2.77% over the last three months but fell 28.59% over the past 12 months. Wipro stock closed at $1.95, trading at a 13% premium to its fair value estimate of $1.65 per share.
  • The fourth-best-performing stock was narrow-moat Infosys, which gained 14.17%. The 4-star stock has gained 9.87% over the last three months but is down 23.03% over the past 12 months. Infosys finished the week at $12.25, trading at a 14% discount to its fair value estimate of $14.10 per share.
  • TransUnion stock climbed 13.13% in the latest week. This narrow-moat company has seen a decrease of 4.32% over the last three months and a decline of 6.09% over the past 12 months. The 3-star stock ended the week at $74.08 per share, trading at a 7% discount to its fair value estimate of $80.00.

Top Stock Losers

VNET Group VNET, Ciena CIEN, GDS Services GDS, CoreWeave CRWV, and Nebius Group NBIS did the worst among US-listed stocks covered by Morningstar analysts.

  • VNET was the worst-performing stock of the week, falling 29.2%. This 4-star, no-moat company has fallen 44.16% over the past three months and 54.12% over the past 12 months. The stock ended the week at $3.92, trading at a 41% discount to its fair value estimate of $7.50 per share.
  • Ciena took the second spot, with a 26.02% price decline this week. The narrow-moat company, rated 3 stars, has fallen 14.80% over the past three months but is up 111.32% over the past 12 months. Closing at $332.73, the stock trades near its fair value estimate of $375 per share.
  • GDS Services came in third, experiencing a 25.54% drop this week. This 4-star, no-moat company has fallen 24.17% over the past three months and fell 25.22% over the past 12 months. The stock finished the week at $23.06, trading at a 37% discount to its fair value estimate of $40 per share.
  • Next up is CoreWeave, which saw its stock price fall by 25.21% this week. The no-moat company with a 4-star rating has fallen 9.63% over the past three months and 49.95% over the past 12 months. At $61.39, the stock trades at a 35% discount to its fair value estimate of $108 per share.
  • Nebius Group rounds out the list with a 25.17% decline this week. This 2-star, no-moat company has fallen 5.56% over the past three months but rose 49.73% over the past 12 months. The stock closed the week at $165.47, trading at a 26% premium to its fair value estimate of $150 per share.

Highlights of This Week’s Market and Investing Events

Correction: An earlier version of this article misstated that the energy sector was the second-worst performing sector of the week. It has been corrected and replaced with the industrials sector.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

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