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US Stocks Lower Midday As Trump Administration Reaffirms Stance On US-China Trade

Aug 23, 2018

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US Market Snapshot

  • US stocks are mostly lower today, after the Trump Administration imposed USD$16bn worth of tariffs on Chinese exports yesterday. China immediately respond to these tariffs in equal measure. President Trump remarked earlier this week that he did not "anticipate much" from Sino-American trade negotiations taking place in Washington, fueling further concerns that a reprieve from trade frictions between the world's two largest economies will not materialize.
  • The S&P 500 is currently down 0.08%, Nasdaq Composite is up 0.07%, and Russell 2000 is down 0.17%
  • Tech (+0.41%), Telecom (+0.05%), and Utilities (+0.04%) stocks are the top performers in the S&P 500 today
  • Financials (-0.47%), Energy (-0.52%), and Materials (-0.73%) 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 0.69x
  • 42 stocks in the S&P500 are at 4-week highs while 10 stocks are at 4-week lows
  • 38 stocks in the S&P 500 are overbought while 3 stocks are oversold according to the 16-day RSI Measure
  • 184 stocks in the Nasdaq Composite are at 4-week highs while 88 stocks are at 4-week lows
  • 346 stocks in the Nasdaq Composite are overbought while 104 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently little changed at 12.17 from yesterday's close of 12.25

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • ABM Industries Inc (ABM) was downgraded to neutral from an outperform rating at Baird. Shares of ABM Industries are down 7.50% to $30.51 in today’s trading following this development. ABM Industries is rated as ‘Top-Buy’ in our US SMID-Cap’ and ‘US Industrials’ Global Top Picks.
  • Advanced Micro Devices (AMD) is up 3.25% to $21.58 after Rosenblatt issued a Street-High price target of $30 for the company, up from a previous target of $27. AMD is rated as ‘Neutral’ in both of our ‘US Large-Cap’ and ‘US Information Technology Global Top Picks.
  • Duluth Holdings (DLTH) has declined 0.59% today to $28.44, after the company was downgraded to neutral from an outperform rating at Baird. Duluth is rated as ‘Neutral’ in both our US SMID-Cap and US Consumer Discretionary Global Top Picks.
  • Honeywell International (HON) is trading 0.90% higher today to $157.54, after the company raised its profit forecast for FY2018 from a range of $8.05 - $8.15, to $8.10 - $8.20. Honeywell International is rated as ‘Neutral’ in our US Large-Cap model and as ‘Attractive’ in our US Industrials Global Top Picks.
  • Verizon (VZ) is being sued by a group of California firefighters, who are accusing the company of limiting the firefighter’s internet access as they battled wildfires. The department had reportedly reached its data limit for the month, prompting Verizon to reduce data speeds for the department. When the department called Verizon to explain the situation, a customer service representative encouraged the department to simply purchase a more expensive plan. The group of firefighters claim that reduced data speeds significantly impacted their ability to provide emergency services.

US Treasuries

  • US 2-Year Treasuries are lower with yields up 1.25 basis points to 2.6037%
  • US 5-Year Treasuries are lower with yields up 0.5 basis points to 2.7089%
  • US 10-Year Treasuries are lower with yields up 0.18 basis points to 2.8207%
  • The US Treasury 2s-5s Spread has narrowed 0.75 basis points to 0.11%
  • The US Treasury 2s-10s Spread has narrowed 1.07 basis points to 0.22%
  • US Treasury 5s-10s Spread has narrowed 0.32 basis points to 0.11%

Currencies

  • EUR€ is currently down 0.362% against the USD$ to 1.1555
  • GBP£ is currently down 0.736% against the USD$ to 1.2816
  • CHF is currently down 0.236% against the USD$ to 1.0147
  • JPY¥ is currently up 0.588% against the USD$ to 111.21

Commodities

  • WTI Crude is currently down -0.29% to USD$68.86/bbl with the Brent-WTI spread little changed USD$0.1 to USD$5.28/bbl
  • Gold is currently down -0.63% to USD$1188.29/oz

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Sector ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Russell 1000 Factor ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Movers

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Outperformers Sector Price 1D% CHG Volume
Synopsys Inc Information Technology 101 6.60%          522,331.00
Advanced Micro Devices Inc Information Technology 21.9 4.59%    10,758,901.00
Hewlett Packard Enterprise Co Information Technology 16.4 3.54%      1,399,816.00
Nielsen Holdings PLC Industrials 26.8 3.24%          583,456.00
ABIOMED Inc Health Care 377 2.34%            57,274.00
Underperformers Sector Price 1D% CHG Volume
L Brands Inc Consumer Discretionary 28.5 -10.50%      2,540,091.00
Hormel Foods Corp Consumer Staples 37.4 -3.14%          441,421.00
News Corp Consumer Discretionary 13.9 -2.46%            24,536.00
Freeport-McMoRan Inc Materials 14.2 -2.44%      1,575,638.00
Hanesbrands Inc Consumer Discretionary 18 -2.31%          794,867.00