Weekly Market Update: Stocks Jump 3.5%, Led by Industrials

Stock Market Update for the Trading Week Ended April 10

• The Morningstar US Market Index rose 3.50%.
• The best-performing sectors were industrials, up 5.60%, and consumer cyclical, up 5.50%.
• The worst-performing sectors were energy, down 3.77%, and healthcare, up 0.25%.
• Large-cap stocks gained 3.77%, mid-cap stocks rose 2.66%, and small-cap stocks rose 2.99%.
• The S&P 500 gained 3.56%, and the Nasdaq rose 4.68%.
• Of the 834 US-listed companies covered by Morningstar, 562, or 67%, were up, one was unchanged, and 271, or 32%, were down.

Bonds and Commodities

• Yields on 10-year US Treasury notes fell to 4.31% from 4.35%.
• Yields on 2-year US Treasury notes fell to 3.81% from 3.84%.
• West Texas Intermediate crude prices fell 14.68% to $95.61 per barrel.
• Comex Gold prices rose 1.59% to $4,746.50.

Top Stock Gainers

Nebius Group NBIS, CoreWeave CRWV, Intel INTC, SK Telecom SKM, and Bloom Energy BE were the top performers among US-listed stocks covered by Morningstar analysts.

• Nebius topped the list, rising 33.21%, and it’s up 39.21% over the past three months. This no-moat company with a 2-star rating has increased 481.12% over the past 12 months. The stock closed the week at $144.97, trading at a 60% premium to its fair value estimate of $85.00 per share.
• CoreWeave was the second-best performer, with a weekly return of 24.08%. The 3-star stock has gained 14.80% over the last three months. Shares in this no-moat company are up 88.64% over the past 12 months. CoreWeave stock wrapped up the week at $102, trading at a 5% discount to its fair value estimate of $97 per share.
• Intel ranked third for the week, with its stock rising 23.82%. The 1-star, no-moat stock has gained 35.50% over the last three months and 186.67% over the past 12. Intel stock closed at $62.38, trading at a 93% premium to its fair value estimate of $32.00 per share.
• The fourth-best-performing stock was no-moat SK Telecom, which gained 23.09%. The 3-star stock has gained 75.51% over the last three months and 69.99% over the past 12. SK Telecom finished the week at $36.41, trading near its fair value estimate of $35.00 per share.
• Bloom stock climbed 22.91% in the latest week. This no-moat company has seen an increase of 19.44% over the last three months and a rise of 796.08% over the past 12 months. The 1-star stock ended the week at $166.7 per share, trading at a 163% premium to its fair value estimate of $61.00.

Top Stock Losers

Akamai Technologies AKAM, Guidewire Software GWRE, Okta OKTA, HubSpot HUBS, and Cloudflare NET did the worst among US-listed stocks covered by Morningstar analysts.

• Akamai was the worst-performing stock of the week, falling 22.59%. This 3-star, narrow-moat company has risen 24.39% over the past three months and 43.56% over the past 12. The stock ended the week at $91.35, trading at a 10% discount to its fair value estimate of $122.00 per share.
• Guidewire took the second spot, with a 21.81% price decline this week. The wide-moat company, rated 5 stars, has fallen 32.88% over the past three months and 34.17% over the past 12. Closing at $117.95, the stock trades at a 44% discount to its fair value estimate of $220 per share.
• Okta came in third, experiencing a 21.51% drop this week. This 4-star, no-moat company has fallen 26.53% over the past three months and fell 33.39% over the past 12 months. The stock finished the week at $62.93, trading at a 32% discount to its fair value estimate of $100 per share.
• Next up is HubSpot, which saw its price fall by 21.47% this week. The narrow-moat company with a 5-star rating has fallen 44.82% over the past three months and 62.66% over the past 12. At $192.26, the stock trades at a 61% discount to its fair value estimate of $525.00 per share.
• Cloudflare rounds out the list with a 21.12% decline this week. This 3-star, wide-moat company has risen 5.62% over the past three months and 71.51% over the past 12. The stock closed the week at $166.99, trading at an 18% discount to its fair value estimate of $235.00 per share.

Highlights of This Week’s Market and Investing Events

• Monday, April 13: March Existing Home Sales (seasonally adjusted annual rate)
• Tuesday, April 14: March Producer Price Index report: PPI (month over month), Core PPI (month over month), PPI (year over year), Core PPI (year over year), earnings from BlackRock BLK, Johnson & Johnson JNJ, JPMorgan Chase JPM, Wells Fargo WFC, Citigroup C
• Wednesday, April 15: Federal Reserve Beige Book, earnings from M&T Bank MTB, Bank of America BAC, PNC Financial Services Group PNC
• Thursday, April 16: Initial Unemployment Insurance Claims report for the week ended April 11, April Federal Reserve Bank of Philadelphia Index, March Capacity Utilization, March Industrial Production (month over month), earnings from US Bancorp USB, Charles Schwab SCHW, KeyCorp KEY, Netflix NFLX
• Friday, April 17: Earnings from Truist Financial TFC, Fifth Third Bancorp FITB, Regions Financial RF