Top gainers and losers
The top gainers in the S&P 500 on July 7, 2017, were:
- D.R. Horton (DHI) rose 3.8%.
- Applied Materials (AMAT) rose 3.4%.
- Lennar (LEN) rose 3.1%.
- Lam Research (LRCX) rose 3%.
- Qorvo (QRVO) rose 2.9%.
The top losers in the S&P 500 on July 7, 2017, were:
D.R. Horton, one of the largest home construction companies in the US, rose on Friday. Homebuilders rose with D.R. Horton leading the rally. The sentiment on homebuilder stocks improved after upbeat construction jobs data. According to data released by the US Department of Labor, jobs in the construction industry rose by 16,000 in June—better than 9,000 jobs added in May.
D.R. Horton rose 3.8% on Friday and closed the day at 35.79—the highest close since February 2006.
L Brands, one of the major US fashion retailers, fell on Friday. L Brands fell to three-month low price levels on July 6 amid the disappointing sales report. According to the report released by L Brands, net sales in June fell 6% to $1.21 billion—lower than net sales of $1.3 billion in June 2016. Also, same-store sales registered a 9% year-over-year decline in June—a bigger decline than the market’s expectation of a 7% decline.
On Friday, L Brands opened higher but quickly lost strength and fell to three-month low price levels. It fell 3% and closed the day at 45.11.
In the next part, we’ll discuss how commodities performed in the early hours on July 10.