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S&P 500 closed above 2,900 for the first time and Nasdaq set a record with Tech shares powering markets higher

Aug 29, 2018

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US Markets End of Day Snapshot

  • Tech companies and promising trade negotiations led markets to record highs for the fourth straight day
  • The S&P 500 finished up 0.58%, Nasdaq Composite up 0.86%, and Russell 2000 up 0.4%
  • Consumer Discretionary (+1.01%), Energy (+0.92%), and Tech (+0.87%) stocks were the top performers in the S&P 500 today
  • Real Estate (+0.1%), Financials (0%), and Telecom (-0.36%) 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 3.5x
  • 104 stocks in the S&P 500 hit 4-week highs while 10 stocks reached 4-week lows
  • 54 stocks in the S&P 500 closed overbought while 3 stocks closed oversold according to the 16-day RSI Measure
  • 199 stocks in the Nasdaq Composite hit 4-week highs while 59 stocks reached 4-week lows
  • 337 stocks in the Nasdaq Composite closed overbought while 143 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 12.31 after closing at 12.5 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Amazon (AMZN) closed within US$25bn of a US$1 trillion market capitalization.  This was in the wake of Morgan Stanley hiking its price target by 35% today.  Amazon is rated ‘Attractive’ in our US Large-Cap model and ‘Top Buy’ in our US Consumer Discretionary Global Top Picks.
  • Ford (F) saw its credit rating cut to one level above junk by Moody’s from Baa2 to Baa3 with a negative outlook.  Moody’s cited Ford’s “global business position and the challenges it will face” going forward with its plans.  Ford closed slightly down at US$9.97/share.  Ford is rated ‘Neutral’ in our US Large-Cap model and ‘Neutral’ in our US Consumer Discretionary Global Top Picks.
  • Micron (MU) announced a US$3bn expansion on northern Virginia to add manufacturing capacity.  The investment will include the addition of 1,100 jobs to a facility that already employs 1,200.  Micron is rated ‘Attractive’ in our US Large-Cap model and ‘Top Buy’ in our US Information Technology Global Top Picks.
     

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 0.81 basis points to 2.6735%
  • US 5-Year Treasury Bonds are lower with yields up 0.32 basis points to 2.7769%
  • US 10-Year Treasury Bonds are lower with yields up 0.18 basis points to 2.8822%
  • The US Treasury 2s-5s Spread has narrowed 0.49 basis points to 0.1%
  • The US Treasury 2s-10s Spread has narrowed 0.63 basis points to 0.21%
  • US Treasury 5s-10s Spread has narrowed 0.14 basis points to 0.11%

Currencies

  • EUR€ is little changed 0.077% against the USD$ in after hours to 1.1704
  • GBP£ is up 0.971% against the USD$ in after hours to 1.2998
  • CHF is up 0.42% against the USD$ in after hours to 1.0287
  • JPY¥ is up 0.522% against the USD$ in after hours to 111.77

Commodities

  • WTI Crude is up 1.15% to USD$69.32/bbl with the Brent-WTI spread little changed USD$0.08 to USD$7.17/bbl
  • Gold is up 0.42% to USD$1206.08/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
Marathon Oil Corp Energy 21.895 5.458937 1467861
ABIOMED Inc Health Care 400.84 3.935539 97269
Regeneron Pharmaceuticals Inc Health Care 404.43 3.861043 170193
Royal Caribbean Cruises Ltd Consumer Discretionary 124.2 3.454016 152741
Foot Locker Inc Consumer Discretionary 49.56 3.172299 257533
 
Underformers Sector Price 1D % Chg Volume
Tiffany & Co Consumer Discretionary 125.69 -3.99%                490,306.00
Advanced Micro Devices Inc Information Technology 24.56 -2.36%          14,335,169.00
Twitter Inc Information Technology 34.935 -1.61%            1,484,899.00
Kohl's Corp Consumer Discretionary 77.48 -1.52%                141,162.00
BorgWarner Inc Consumer Discretionary 45.54 -1.34%                  65,776.00