Zscaler Jumps 19.76% as Broad Market Stalls
Zscaler led weekly gains with a 19.76% rise, while the Morningstar US Total Market Index fell 0.2%.
Zscaler shares rose 19.76% last week, the largest gain among tracked US stocks. The Morningstar US Total Market Index declined 0.2% for the period ending September 18. Seven hundred forty percent of the 874 covered companies saw their stock prices drop. Only 26% of these equities finished the week higher.
Sector Performance Diverges
Healthcare stocks led the market, rising 1.56% on the week. Technology shares followed, gaining 1.03%. Utilities suffered the largest sector loss, falling 2.95%. Financial services also declined, dropping 2.29% over the five-day session.
Small-cap stocks fell 1.38%, while mid-cap stocks lost 1.35%. Large-cap equities saw a minor 0.04% decline. Value stocks dropped 1.28%, whereas growth stocks gained 0.7%. The S&P 500 index ended the week down 0.08%.
Bond Yields and Commodity Prices
Yields on 10-year US Treasury notes increased to 5.01% from 4.96%. Two-year Treasury yields rose to 4.76% from 4.63%. West Texas Intermediate crude oil prices fell 0.50% to $99.49 per barrel. Comex gold prices declined 1.22% to $4,325.30 per ounce.
Top Movers in Individual Stocks
Tenable shares rose 17.72%, placing them second in weekly performance. Qualys stock climbed 16.4%, while Illumina gained 16.02%. Rapid7 completed the top five, rising 15.91% for the week. Zscaler closed at $197.24, trading at a 21% discount to its fair value estimate.
Ionis Pharmaceuticals fell 17.99%, marking the worst weekly performance. AutoNation shares dropped 17.35%, followed by Sonic Automotive, which declined 16.23%. Shake Shack stock lost 13.73% during the trading period. J.B. Hunt Transport Services also appeared on the list of top decliners.
