Morningstar

Weekly Market Update: Stocks Fall as Energy Rises and Basic Materials Falter

The energy sector ticked up this week, while Celsius and Norwegian Cruise Line lost 19%.

Collage illustration for Energy Sector with a gas pump.
Securities in This Article
Venture Global Inc Ordinary Shares - Class A
(VG)
Oracle Corp
(ORCL)
Wix.com Ltd
(WIX)
Adobe Inc
(ADBE)
Celsius Holdings Inc
(CELH)

Stock Market Update for the Trading Week Ended March 6

  • The Morningstar US Market Index fell 2.18%.
  • The best-performing sectors were energy, up 1.32%, and technology, down 0.44%.
  • The worst-performing sectors were basic materials, down 7.37%, and industrials, down 5.01%.
  • Large-cap stocks fell 1.52%, mid-cap stocks fell 3.63%, and small-cap stocks fell 4.51%.
  • Growth stocks fell 2.34%, blend stocks fell 3.35%, and value stocks fell 2.92%.
  • The S&P 500 fell 2.02% and the Nasdaq fell 1.24%.
  • Of the 834 US-listed companies covered by Morningstar, 215, or 26%, were up, one was unchanged, and 618, or 74%, were down.

Bonds and Commodities

  • Yields on 10-year US Treasury notes rose to 4.15% from 3.97%.
  • Yields on two-year US Treasury notes rose to 3.56% from 3.38%.
  • West Texas Intermediate crude prices rose 35.62% to $91.26 per barrel.
  • Comex Gold prices fell 2.70% to $5,137.50.

Top Stock Gainers

Sabre SABR, Wix WIX, Venture Global VG, Cogent Communications CCOI, and Trade Desk TTD were the top performers among US-listed stocks covered by Morningstar analysts.

  • Sabre topped the list, rising 34.32%, but it’s down 0.92% over the past three months. This no-moat company with a 4-star rating has decreased 61.18% over the past 12 months. The stock closed the week at $1.58, trading at a 20% discount to its fair value estimate of $2.02 per share.
  • Wix was the second-best performer, with a weekly return of 33.32%. The 4-star stock has lost 7.26% over the last three months. Shares in this narrow-moat company are down 52.95% over the past 12 months. Wix stock wrapped up the week at $93.94, trading at a 35% discount to its fair value estimate of $143.00 per share.
  • Venture Global ranked third for the week, with its stock rising 28.79%. The 3-star, no-moat stock has gained 80.31% over the last three months but fell 13.23% over the past 12 months. Venture Global stock closed at $12.48, trading at a 12% premium to its fair value estimate of $11.00 per share.
  • The fourth-best-performing stock was narrow-moat Cogent, which gained 23.03%. The 4-star stock has gained 16.06% over the last three months but is down 63.21% over the past 12 months. Cogent finished the week at $23.08, trading at a 29% discount to its fair value estimate of $32.00 per share.
  • Trade Desk stock climbed 22.92% in the latest week. This narrow-moat company has seen a decrease of 25.62% over the last three months and a decline of 55.23% over the past 12 months. The 3-star stock ended the week at $29.27 per share, trading at a 15% discount to its fair value estimate of $35.00.

Top Stock Losers

Celsius Holdings CELH, Norwegian Cruise Line Holdings NCLH, Perrigo PRGO, and Carnival CCL did the worst among US-listed stocks covered by Morningstar analysts.

  • Celsius saw a 19.94% price decline this week. The no-moat company, rated 3 stars, has risen 3.88% over the past three months and rose 69.54% over the past 12 months. Closing at $42.92, the stock trades at a 15% premium to its fair value estimate of $38.00 per share.
  • Norwegian Cruise Line came after that, experiencing a 19.12% drop this week. This 4-star, narrow-moat company has risen 10.57% over the past three months but fell 1.78% over the past 12 months. The stock finished the week at $20.05, trading at a 34% discount to its fair value estimate of $31.50 per share.
  • Next up is Perrigo, which saw its stock price fall by 18.91% this week. The no-moat company with a 4-star rating has fallen 14.51% over the past three months and fell 57.07% over the past 12 months. At $10.72, the stock trades at a 44% discount to its fair value estimate of $20.00 per share.
  • Carnival rounds out the list with a 18.26% decline this week. This 4-star, narrow-moat company has risen 5.57% over the past three months and rose 22.25% over the past 12 months. The stock closed the week at $25.79, trading at a 23% discount to to its fair value estimate of $35.50 per share.

Highlights of This Week’s Market and Investing Events

The author or authors own shares in one or more securities mentioned in this article. Find out about Morningstar’s editorial policies.

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