Market Overview

Top Performing Industries For June 23, 2016

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At 10:30 am, the Dow rose 0.70 percent to 17,904.65, the broader Standard & Poor's 500 index moved up 0.67 percent to 2,099.34 and the NASDAQ composite index gained 0.73 percent to 4,868.47.

The industries that are driving the market today are:

  • Regional - Southwest Banks: This industry gained 3.1 percent by 11:00 am. The top stock within the industry was Texas Capital Bancshares Inc (NASDAQ: TCBI), which gained 3.5 percent. Texas Capital Bancshares’ PEG ratio is 1.25.
  • Semiconductor- Memory Chips: This industry rose 2.9 percent by 10:30 am ET. The top performer in this industry was Micron Technology, Inc. (NASDAQ: MU), which gained 8.4 percent. Nomura upgraded Micron to Buy and raised the price target from $8.00 to $18.00, while Susquehanna upgraded the stock to Positive and raised the price target from $10.00 to $18.00.
  • Regional - Pacific Banks: The industry gained 2.6 percent by 10:30 am. The top performer in this industry was SVB Financial Group (NASDAQ: SIVB), which gained 4.5 percent. SVB Financial shares have tumbled 32.49 percent over the past 52 weeks, while the S&P 500 index has declined 0.80 percent in the same period.
  • Regional - Southeast Banks: This industry moved up 2.5 percent by 10:30 am. The top performer in this industry was C1 Financial Inc (NYSE: BNK), which rose 5.4 percent.
 

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