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Market Insights

Bringing you the trading news around the world.

Suddenly Lots of Stocks Are Hitting New Highs

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More stocks are showing signs of a breakout as the Federal Reserve meets and the S&P 500 jumps above last summer’s peak.

Forty-three members of the S&P 500 made new 52-week highs on Tuesday, according to TradeStation data. It was the highest total since April 21, 2022. The list included growth stocks like Advanced Micro Devices (AMD) and Netflix (NFLX). However less-known companies like Ametek (AME) and Snap-On (SNA) also filled the list.

The change came after May’s consumer-price index rose slightly less than expected from the previous month. It also slowed to 4 percent on an annual basis, the smallest increase since March 2021. Those points helped solidify expectations that the Fed will leave interest rates unchanged this afternoon.

But something bigger could be underway: Jerome Powell’s war against inflation has dominated sentiment since early 2022, prompting him to hike rates for 10 straight meetings. Will the idea he’s ready to pause let investors worry less about the Fed and think more about individual companies?

Technicians may view the increase in stocks hitting new 52-week highs as a positive sign that confirms strength in the broader market. They may also notice that yesterday’s total of 43 stocks is below the peaks at previous times like 2019 and 2021.

S&P 500, weekly chart. Lower study shows the total of index members hitting new 52-week highs.

The chart above shows the S&P 500 index with weekly bars. It also includes the second symbol “$52WHSP,” TradeStation’s in-house tally of stocks hitting new highs. The second symbol was modified to appear in white with HLC bar. (This is achieved by customizing the symbol.)

Stocks Hitting New Highs

Here’s a list of the S&P 500 companies that hit new 52-week highs yesterday, with their industries. They’re ranked by largest market capitalization to the smallest:

  1. Walmart (WMT): Retail
  2. Oracle (ORCL): Software
  3. Adobe (ADBE): Software
  4. Advanced Micro Devices (AMD): Semiconductors
  5. Netflix (NFLX): Streaming media
  6. Applied Materials (AMAT): Semiconductors
  7. Eaton (ETN): Industrial supplies
  8. KLA Corp. (KLAC): Semiconductors
  9. Cadence Design Systems (CDNS): Semiconductor software
  10. Moody’s (MCO): Financial services
  11. Marriott (MAR): Hotels
  12. Ecolab (ECL): Industrial supplies
  13. DexCom (DXCM): Healthcare
  14. NXP Semiconductors (NXPI): Semiconductors
  15. Parker Hannifin (PH): Industrial supplies
  16. Paccar (PCAR): Trucks
  17. D.R. Horton (DHI): Homebuilding
  18. ON Semiconductor (ON): Semiconductors
  19. Lennar (LEN): Homebuilding
  20. AmeriSourceBergen (ABC): Healthcare
  21. Grainger (GWW): Industrial supplies
  22. Otis (OTIS): Industrial supplies
  23. Rockwell Automation (ROK): Industrial supplies
  24. Ametek (AME): Industrial supplies
  25. Ansys (ANSS): Software
  26. Vulcan Materials (VMC): Materials
  27. Martin Marietta Materials (MMC): Materials
  28. Delta Airlines (DAL): Airlines
  29. Ingersoll-Rand (IR): Industrial supplies
  30. Fortive (FTV): Industrial supplies
  31. Royal Caribbean Cruises (RCL): Cruise ships
  32. Cardinal Health (CAH): Healthcare
  33. Fair Isaac (FICO): Financials
  34. Darden Restaurants (DRI): Casual dining
  35. Carnival (CCL): Cruise ships
  36. Fleetcor Technologies (FLT): Financials
  37. Teradyne (TER): Semiconductors
  38. PTC (PTC): Software
  39. PulteGroup (PHM): Homebuilding
  40. InterPublic (IPG): Advertising
  41. Snap-On (SNA): Industrial supplies
  42. Molson Coors (TAP): Beer
  43. Norwegian Cruise Line (NCLH): Cruise ships

Source: TradeStation data

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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