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Quantamize Midday Report March 9th

Mar 09, 2018

US equities are higher midday following positive job report data for February with payroll increases of 313,000, the highest figure since 2015.  The S&P 500 is up +1.26%, pushing weekly returns to +2.5%. It is led by Financials +1.83%, Energy +1.7%, and Industrials +1.68%.

The S&P Tech sector is up 1.3%, outperforming the overall index. Today’s move is led by Semiconductors +1.6% with the best performers being LRCX + 4.5%, MCHP +2.8%, and AMAT +2.6% while MU -0.9% and AMD -2.2% underperformed.

The S&P consumer discretionary and consumer staples sectors are up +0.6% and +0.5% respectively, but still trail the benchmark S&P index overall. Gaming, Lodging and Leisure is performing well with MAR +3.3% and HLT +3.1% leading the way.

S&P Financials Top Performers

  • AJG +3.54%
  • BHF +3.12%
  • AMP+3.02%
S&P Energy Top Performers
  • HP +4.15%
  • CHK +3.07%
S&P Industrials Top Performers
  • DE +3.85%
  • PH +3.34%
  • NSC +#.13%

European markets closed higher Friday as investors are still digesting statements from ECB President Mario Draghi president yesterday, indicating a deceleration in the ECB’s quantitative easing. Concerns persist regarding US steel and aluminum import tariffs, but EU chief Cecilia Malmstrom has vowed to push for EU tariff exemption.

Regional indices were positive with the FTSE +0.3%, DAX +0.07%, CAC40 +0.39%, and STOXX 600 +0.43% finishing up following trading.

The top performers in the Euro STOXX 600 were Basic Resources +1.6%, Retail +0.9%, and Technology 0.83%. Meanwhile, Real Estate -0.84%, Auto & Parts -0.12%, and Banking +0.00% were the biggest underperformers.

EU Top Performers

  • MAU.FP +12.8%
  • STGN.SW +12.2%
  • TUNE.LN 10.8%
  • CVAL.IM 6.6%
EU Top Laggards
  • RNO.LN -23.8%
  • SHI.LN -9.0%
  • ACCEL.NA -8.6%
  • MMB.FP -7.3%