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US-Mexico Trade Deal Pushes Stocks Up To New Record Highs

Aug 27, 2018

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US Markets End of Day Snapshot

  • US stocks finished broadly higher today, following reports that the US and Mexico have agreed to a bilateral trade agreement. Auto manufacturer names surged today, on optimism that the deal will have a materially positive impact on their supply chains and costs. Congress will have to approve the agreement 
  • The S&P 500 finished up 0.77%, Nasdaq Composite up 0.91%, and Russell 2000 up 0.16%
  • Materials (+1.47%), Financials (+1.34%), and Industrials (+1.22%) stocks were the top performers in the S&P 500 today
  • Consumer Staples (+0.07%), Real Estate (-0.08%), and Utilities (-0.64%) stocks were the worst performers in the S&P 500 today
  • Investor sentiment for US stocks finished positive with the advance/decline ratio for the S&P 500 closing at 2.68x
  • 75 stocks in the S&P 500 hit 4-week highs while 16 stocks reached 4-week lows
  • 42 stocks in the S&P 500 closed overbought while 3 stocks closed oversold according to the 16-day RSI Measure
  • 216 stocks in the Nasdaq Composite hit 4-week highs while 78 stocks reached 4-week lows
  • 416 stocks in the Nasdaq Composite closed overbought while 118 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 12.34 after closing at 11.99 last week

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Hibbett Sports (HIBB) fell 4.38% to $19.63 today, after the company was downgraded to hold from a buy rating at Canaccord Genuity, with a price target lowered from $31 to $21. Hibbett Sports is rated as ‘Neutral’ in both of our US SMID-Cap and US Consumer Discretionary Global Top Picks.
  • GameStop Corp (GME) declined 11.12% to $14.12 in today’s trading, after concerns were raised regarding the embattled video-game retailer’s ability to find a suitable deal to be acquired. GameStop’s stock had rallied in recent months on speculation that a private equity firm such as Sycamore Partners may be interested in buying out the firm. GameStop is rated as ‘Unattractive’ in our US Large-Cap model and as a ‘Top-Short’ in our US Consumer Discretionary Global Top Picks.
  • Kansas City Southern (KSU) traded 4.69% higher to $119.04, after the company received a boost from the US-Mexico bilateral trade deal that was agreed upon today. Kansas Southern generate nearly 40% of its revenue from cross border trade with Mexico. Kansas City Southern is rated as ‘Attractive’ in our US Large-Cap model and as a ‘Top-Buy’ in our US Consumer Discretionary Global Top Picks.
  • A study of Pfizer’s (PFE) tafamidis drug showed that trial participants with a rare heart condition experienced a 30% lower risk of dying from heart failure. Despite the encouraging results of the study, Pfizer stock fell 1.93% to $41.58. Pfizer is rated as ‘Neutral’ in our US Large-Cap Global Top Picks.
     

US Treasuries

  • US 2-Year Treasuries are lower with yields up 2.10 basis points to 2.64%
  • US 5-Year Treasuries are lower with yields up 2.73 basis points to 2.74%
  • US 10-Year Treasuries are lower with yields up 3.43 basis points to 2.84%
  • The US Treasury 2s-5s Spread has widened 0.63 basis points to 0.10%
  • The US Treasury 2s-10s Spread has widened 1.33 basis points to 0.20%
  • US Treasury 5s-10s Spread has widened 0.7 basis points to 0.10%

Currencies

  • EUR€ is up 0.516% against the USD$ in after hours to 1.1682
  • GBP£ is up 0.389% against the USD$ in after hours to 1.2896
  • CHF is up 0.403% against the USD$ in after hours to 1.0210
  • JPY¥ is little changed 0.144% against the USD$ in after hours to 111.08

Commodities

  • WTI Crude is down -1.36% to USD$68.87/bbl with the Brent-WTI spread up USD$2.32 to USD$6.86/bbl
  • Gold is up 0.46% to USD$1210.94/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 25.6 5.34%    20,483,181.00
General Motors Co Consumer Discretionary 37.7 4.84%      2,600,357.00
Twitter Inc Information Technology 35.9 4.70%      4,954,633.00
Kansas City Southern Industrials 119 4.69%          453,505.00
Aptiv PLC Consumer Discretionary 92.1 4.05%          511,404.00
Underperformers Sector Price 1D% CHG Volume
Chipotle Mexican Grill Inc Consumer Discretionary 521 -4.82%            74,295.00
Under Armour Inc Consumer Discretionary 20.8 -4.09%          340,730.00
Under Armour Inc Consumer Discretionary 19.1 -3.45%          232,474.00
Kohl's Corp Consumer Discretionary 78.9 -2.49%          380,829.00
Nordstrom Inc Consumer Discretionary 60.6 -2.37%          493,052.00