Morningstar

Weekly Market Update: Stocks Up 1.1% as Energy Rises and Basic Materials Fall

Meta, HP, and Alibaba were among the top-performing stocks of the week.

The logo of Meta on a building.
Wolf von Dewitz/picture alliance via Getty
Securities in This Article
GE Aerospace
(GE)
UnitedHealth Group Inc
(UNH)
Meta Platforms Inc Class A
(META)
PNC Financial Services Group Inc
(PNC)
Netflix Inc
(NFLX)

Stock Market Update for the Trading Week Ended July 10

  • The Morningstar US Market Index rose 1.1%.
  • The best-performing sectors were energy, up 3.40%, and technology, up 3.32%.
  • The worst-performing sectors were basic materials, down 2.46%, and healthcare, down 1.71%.
  • Large-cap stocks gained 1.52%, mid-cap stocks rose 0.11%, and small-cap stocks fell 0.99%.
  • Growth stocks gained 0.93%, blend stocks gained 0.16%, and value stocks fell 0.21%.
  • The S&P 500 gained 1.23%, and the Nasdaq rose 1.74%.
  • Of the 882 US-listed companies covered by Morningstar, 409, or 46%, were up, one was unchanged, and 471, or 53%, were down.

Bonds and Commodities

  • Yields on 10-year US Treasury notes rose to 4.56% from 4.49%.
  • Yields on 2-year US Treasury notes rose to 4.21% from 4.14%.
  • West Texas Intermediate crude prices rose 4.65% to $71.58 per barrel.
  • Comex Gold prices fell 0.55% to $4,090.60.

Top Stock Gainers

Rapid7 RPD, Hewlett Packard Enterprise HPE, Arista Networks ANET, Alibaba BABA, and Meta Platforms META were the top performers among US-listed stocks covered by Morningstar analysts.

  • Rapid7 topped the list, rising 20.01%, and it’s up 125.94% over the past three months. This no-moat company with a 3-star rating has fallen 55.41% over the past 12 months. The stock closed the week at $11.15, trading at a 14% premium to its fair value estimate of $10.00 per share.
  • HP was the second-best performer, with a weekly return of 17.73%. The 4-star stock has gained 98.36% over the last three months. Shares in this no-moat company are up 138.79% over the past 12 months. HP stock wrapped up the week at $48.54, trading at a 23% discount to its fair value estimate of $64.00 per share.
  • Arista ranked third for the week, rising 16.84%. The 3-star, wide-moat stock has gained 26.46% over the last three months and 73.78% over the past 12. Arista stock closed at $186.96, trading near its fair value estimate of $190.00 per share.
  • The fourth-best-performing stock was wide-moat Alibaba, which gained 16.84%. The 5-star stock has fallen 12.13% over the last three months but is up 8.05% over the past 12. Alibaba finished the week at $112.33, trading at a 54% discount to its fair value estimate of $241.00 per share.
  • Meta climbed 14.81% in the latest week. This wide-moat company has seen a 0.58% increase over the last three months but a 13.54% decline over the past 12. The 4-star stock ended the week at $669.21 per share, trading at a 26% discount to its fair value estimate of $850.00.

Top Stock Losers

Ionis Pharmaceuticals IONS, Solstice Advanced Materials SOLS, Intellia Therapeutics NTLA, Moderna MRNA , and Clarivate CLVT did the worst among US-listed stocks covered by Morningstar analysts.

  • Ionis was the worst-performing stock of the week, falling 28.8%. This 4-star, narrow-moat company has fallen 15.91% over the past three months but is up 50.06% over the past 12. The stock ended the week at $58.25, trading at a 29% discount to its fair value estimate of $90.00 per share.
  • Solstice took the second spot, with a 23.6% decline this week. The narrow-moat company, rated 4 stars, has fallen 24.07% over the past three months. Closing at $61.30, the stock trades at a 16% discount to its fair value estimate of $75.00 per share.
  • Intellia came in third, experiencing a 19.08% drop this week. This 4-star, no-moat company has risen 11.64% over the past three months and rose 27.29% over the past 12 months. The stock finished the week at $14.21, trading at a 43% discount to its fair value estimate of $27 per share.
  • Next up is Moderna, which fell 14.41% this week. The no-moat company with a 3-star rating has risen 49.30% over the past three months and 133.49% over the past 12. At $68.27, the stock trades near its fair value estimate of $79.00 per share.
  • Clarivate rounds out the list with a 13.9% decline this week. This 5-star, no-moat company has risen 0.92% over the past three months but is down 51.22% over the past 12. The stock closed the week at $2.23, trading at a 60% discount to its fair value estimate of $5.50 per share.

Highlights of This Week’s Market and Investing Events

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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