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US Stocks Dropping over Worries that Turkey's Economic Crisis Will Have a Contagion Effect

Aug 10, 2018

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US Market Snapshot

  • US Stocks are dropping over worries that Turkey's economic crisis will have a contagion effect and spread to other markets
  • The S&P 500 has erased its gains earlier this week that brought the benchmark index close to an all-time high
  • The S&P 500 is currently down 0.61%, Nasdaq Composite is down 0.62%, and Russell 2000 is up 0.14
  • Energy (+0.02%), Utilities (-0.25%), and Consumer Staples (-0.33%) stocks are the top performers in the S&P 500 today
  • Industrials (-0.96%), Materials (-1.3%), and Financials (-1.34%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is negative with the advance/decline ratio for the S&P 500 currently at 0.33x
  • 69 stocks in the S&P500 are at 4-week highs while 23 stocks are at 4-week lows
  • 32 stocks in the S&P 500 are overbought while 12 stocks are oversold according to the 16-day RSI Measure
  • 158 stocks in the Nasdaq Composite are at 4-week highs while 166 stocks are at 4-week lows
  • 312 stocks in the Nasdaq Composite are overbought while 279 stocks are oversold according to the 16-day RSI Measure

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -4.1 basis points to 2.6042%
  • US 5-Year Treasury Bonds are higher with yields down -6.78 basis points to 2.7397%
  • US 10-Year Treasury Bonds are higher with yields down -5.98 basis points to 2.866%
  • The US Treasury 2s-5s Spread has narrowed 2.68 basis points to 0.14%
  • The US Treasury 2s-10s Spread has narrowed 1.88 basis points to 0.26%
  • US Treasury 5s-10s Spread has widened 0.8 basis points to 0.13%

Currencies

  • EUR€ is currently down 1.145% against the USD$ to 1.1395
  • GBP£ is currently down 0.53% against the USD$ to 1.2756
  • CHF is currently down 0.189% against the USD$ to 1.0045
  • JPY¥ is currently down 0.414% against the USD$ to 110.62

Commodities

  • WTI Crude is currently up 1.3% to USD$67.68/bbl with the Brent-WTI spread little changed USD$0.07 to USD$4.31/bbl
  • Gold is currently little changed -0.01% to USD$1212.39/oz

 

Data in Price Return; Source: Stockdio

S&P 500 Sector ETFs - Intraday

Data in Price Return; Source: Stockdio

Russell 1000 Factor ETFs - Intraday 

Data in Price Return; Source: Stockdio

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

  • Apple (AAPL) rehired Tesla's (TSLA) former chief engineer Doug Fields 5 years after leaving Apple.  It is expected he will join Apple's car unit named Project Titan.
  • Cigna's (CI) plan to acquire Express Scripts (ESRX) got a boost today after shareholder advisory firm Institutional Shareholder Services reccomended supporting the deal.  Their analusis contrasts with that of Carl Icahn who is vehemently opposed to the deal.
  • Intel (INTC) was downgraded to sell at Goldman Sachs commenting that production issues "may be more deep-rooted than most think" with delays causing it to lose market share to AMD (AMD).  In the same report AMD was upgrade to buy.
     

S&P 500 Movers

Outperformers Sector Price 1D% CHG Volume
Take-Two Interactive Software Inc Information Technology 130 3.59% 423,244.00
Helmerich & Payne Inc Energy 62.5 3.19% 56,955.00
Express Scripts Holding Co Health Care 84.3 3.04% 1,779,669.00
Electronic Arts Inc Information Technology 131 2.88% 695,126.00
Flowserve Corp Industrials 50 2.25% 162,709.00

On Mobile/Tablet scroll to the right.  Source: S&P Capital IQ

Underperformers Sector Price 1D% CHG Volume
News Corp Consumer Discretionary 13.4 -11.99% 546,583.00
News Corp Consumer Discretionary 13.6 -11.69% 110,987.00
Microchip Technology Inc Information Technology 88.5 -9.27% 3,635,856.00
Brighthouse Financial Inc Financials 40.3 -5.35% 399,334.00
Texas Instruments Inc Information Technology 110 -3.94% 1,181,449.00

On Mobile/Tablet scroll to the right.  Source: S&P Capital IQ