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US Stocks Finish In The Red As Continuing US-China Trade Tension Weighs On Investor Outlook

Aug 23, 2018

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US Markets End of Day Snapshot

  • US stocks broadly declined today, with trade sensitive names such as Hormel Foods and Caterpillar among the biggest decliners.
  • The S&P 500 finished down 0.17%, Nasdaq Composite is down 0.13%, and Russell 2000 is down 0.32%
  • Tech stocks lifted the S&P 500 higher, and finished as the only sector in the black.
  • Tech (+0.18%), Utilities (-0.01%), and Telecom (-0.09%) stocks were the top performers in the S&P 500 today
  • Financials (-0.51%), Energy (-0.52%), and Materials (-0.7%) stocks were the worst performers in the S&P 500 today
  • Investor sentiment for US stocks finished negative with the advance/decline ratio for the S&P 500 closing at 0.54x
  • 42 stocks in the S&P 500 hit 4-week highs while 10 stocks reached 4-week lows
  • 38 stocks in the S&P 500 closed overbought while 3 stocks closed oversold according to the 16-day RSI Measure
  • 184 stocks in the Nasdaq Composite hit 4-week highs while 88 stocks reached 4-week lows
  • 346 stocks in the Nasdaq Composite closed overbought while 104 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 12.41 after closing at 12.25 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Autodesk (ADSK) reported F2Q2019 EPS of $0.19, compared to expectations of $0.16 in earnings per share for the quarter. The company’s net revenue for F2Q2019 was also stronger than expected (USD$612mm vs USD$600.4mm anticipated). Autodesk shares are up 5.73% to $144.12 post-market. Autodesk is rated as a ‘Top-Short’ in our US Large-Cap model and as ‘Neutral’ in our US Information Technology Global Top Picks.
  • OSI Systems Inc (OSIS) released F4Q2018 EPS of $1.02, which was higher than EPS estimates of $0.94. Revenues in F4Q2018 revenue was also stronger than anticipated ($287mm vs $274.8mm). OSI Systems stock is up 1.41% to $78.25 post-market. OSI Systems is rated as ‘Neutral’ in both of our US SMID-Cap and US Information Technology Global Top Picks.
  • Ross Stores (ROST) announced F2Q2019 EPS that beat the consensus ($1.04 vs $1.01) and comp sales growth for the quarter that was more robust than estimated (+5% Y/Y +2.5% Y/Y forecasted). However, F3Q2019 EPS guidance missed expectations ($0.84 vs $0.88 anticipated). Shares of Ross Stores are down 6.04% to $89.29 after the close. Ross Stores is rated as ‘Attractive’ in our US Consumer Discretionary model and as ‘Neutral’ in our US Large-Cap Global Top Picks.
  • Splunk Inc (SPLK) posted F2Q2019 EPS that was modestly higher than the consensus ($0.08 vs $0.05 projected) and released F3Q2019 revenue guidance that was above forecasts ($430mm vs $427.6mm expected). Splunk stock is up 7.03% after the close to $115.30. Splunk is rated as ‘Neutral’ in both of our US Large-Cap and US Information Technology Global Top Picks.

US Treasuries

  • US 2-Year Treasuries are lower with yields up 2.08 basis points to 2.612%
  • US 5-Year Treasuries are lower with yields up 1.52 basis points to 2.7191%
  • US 10-Year Treasuries are lower with yields up 0.36 basis points to 2.8225%
  • The US Treasury 2s-5s Spread has narrowed 0.56 basis points to 0.11%
  • The US Treasury 2s-10s Spread has narrowed 1.72 basis points to 0.21%
  • US Treasury 5s-10s Spread has narrowed 1.16 basis points to 0.1%

Currencies

  • EUR€ is down 0.457% against the USD$ in after hours to 1.1544
  • GBP£ is down 0.728% against the USD$ in after hours to 1.2817
  • CHF is down 0.285% against the USD$ in after hours to 1.0142
  • JPY¥ is up 0.624% against the USD$ in after hours to 111.25

Commodities

  • WTI Crude is down -0.33% to USD$68.83/bbl with the Brent-WTI spread up USD$0.28 to USD$5.41/bbl
  • Gold is down -0.86% to USD$1185.53/oz

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

S&P 500 Sector ETFs - End of Day

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

Russell 1000 Factor ETFs - End of Day

*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
Advanced Micro Devices Inc Information Technology 22.3 6.65%    19,082,663.00
Synopsys Inc Information Technology 101 6.36%          977,485.00
Tractor Supply Co Consumer Discretionary 88.9 2.97%          833,468.00
Nielsen Holdings PLC Industrials 26.7 2.89%      1,287,734.00
Nordstrom Inc Consumer Discretionary 62 2.36%          716,342.00
Underperformers Sector Price 1D% CHG Volume
L Brands Inc Consumer Discretionary 28.3 -11.41%      4,574,075.00
Hanesbrands Inc Consumer Discretionary 17.8 -3.37%      2,140,839.00
Hormel Foods Corp Consumer Staples 37.3 -3.06%      1,007,608.00
Viacom Inc Consumer Discretionary 31 -2.98%          649,955.00
Nucor Corp Materials 62 -2.77%          497,338.00