Stocks rose this week as bond yields steadied near a 24‑year high and oil prices increased modestly. While many equities advanced, several stocks may have risen too quickly, entering overbought territory according to the relative strength index (RSI), which flags readings above 70. The S&P 500 gained 1.2% for the week, the Dow Jones Industrial Average rose 0.9%, and the Nasdaq Composite added 0.6%. Gains were driven in part by energy stocks, boosted by Hurricane Isaias’s impact on Gulf of Mexico oil production and heightened tanker activity in the Strait of Hormuz, which lifted West Texas Intermediate futures 0.81% and Brent crude 2.42%. Valero Energy and Phillips 66 posted gains of 6.8% and 8.8%, respectively, with RSI readings of 79 and 76. Marathon Petroleum jumped 35% week‑over‑week, reaching an RSI of 82. Piper Sandler lifted its Q3 earnings estimate to $25.65 from $24.45, citing stronger refining margins, and maintained an overweight rating. PTC, an industrial software firm, also rose 35% and posted an RSI of 79. Schneider Electric announced an all‑cash acquisition of PTC at $205 per share, valuing the deal at roughly $22.6 billion. Additional overbought stocks include Vylor, a seed and genetics company, and Everpure, a data‑storage provider.
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