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US stocks open September to the downside, recovering from the lowest levels of the day

Sep 04, 2018

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US Markets End of Day Snapshot

  • The return from a holiday weekend saw the return of the same concerns -- emerging markets and trade tensions, both of which weighed on the market today
  • The S&P 500 finished down 0.17%, Nasdaq Composite is down 0.23%, and Russell 2000 is down 0.42%
  • Utilities (+0.54%), Financials (+0.53%), and Consumer Discretionary (+0.25%) stocks were the top performers in the S&P 500 today
  • Materials (-0.81%), Real Estate (-0.9%), and Telecom (-1.12%) 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 0.89x
  • 58 stocks in the S&P 500 hit 4-week highs while 30 stocks reached 4-week lows
  • 51 stocks in the S&P 500 closed overbought while 6 stocks closed oversold according to the 16-day RSI Measure
  • 259 stocks in the Nasdaq Composite hit 4-week highs while 49 stocks reached 4-week lows
  • 415 stocks in the Nasdaq Composite closed overbought while 157 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 13.16 after closing at 12.86 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • AMD (AMD) had its price target raised at both Jeffries and Cowen today.  Both raised the target to US$30 per share, this despite the stock already rising 150% this year.  AMD closed up 11.48% at US$28.06.  AMD is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Neutral’ in our US Information Technology Global Top Picks.
  • Southwestern Energy (SWN) will sell shale gas assets in Arkansas to Flywheel Energy in a deal valued at US$1.7bn.  Southwestern is selling asset to pay down debt.  Southwestern closed down 4.98% at US$5.34.  Southwestern is rated ‘Top Short’ in our US Large-Cap Global Top Picks.
  • Tesla (TSLA) traded down 4.21% closing at US$288.04 after Mercedes announced its first electric car.  Also, Morgan Stanley published a report saying its robo-taxi unit could be worth much less than Waymo and lower than it had initially estimated.  Tesla is rated ‘Unattarctive’ in our US Large-Cap Global Top Picks and ‘Unattractive’ in our US Consumer Discretionary Global Top Picks.

US Treasuries

  • EUR€ is down 0.301% against the USD$ in after hours to 1.1584
  • GBP£ is little changed 0.109% against the USD$ in after hours to 1.2856
  • CHF is down 0.523% against the USD$ in after hours to 1.0264
  • JPY¥ is up 0.342% against the USD$ in after hours to 111.45

Currencies

  • US 2-Year Treasury Notes are lower with yields up 2.64 basis points to 2.6533%
  • US 5-Year Treasury Bonds are lower with yields up 3.37 basis points to 2.7719%
  • US 10-Year Treasury Bonds are lower with yields up 3.81 basis points to 2.8985%
  • The US Treasury 2s-5s Spread has widened 0.73 basis points to 0.12%
  • The US Treasury 2s-10s Spread has widened 1.17 basis points to 0.25%
  • US Treasury 5s-10s Spread has widened 0.44 basis points to 0.13%

Commodities

  • WTI Crude is little changed 0.1% to USD$69.87/bbl with the Brent-WTI spread little changed USD$-0.19 to USD$7.53/bbl
  • Gold is down -0.79% to USD$1191.83/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 28.1 11.48%    31,307,534.00
Ulta Beauty Inc Consumer Discretionary 274 5.53%          743,656.00
Kohl's Corp Consumer Discretionary 82.1 3.72%          950,936.00
Nordstrom Inc Consumer Discretionary 65 3.45%          633,953.00
Advance Auto Parts Inc Consumer Discretionary 169.48 3.32% 385459.00
 
Underformers Sector Price 1D % Chg Volume
Seagate Technology PLC Information Technology 49.4 -7.71%      3,326,066.00
Western Digital Corp Information Technology 60.2 -4.74%      2,472,652.00
PVH Corp Consumer Discretionary 136 -4.70%          551,285.00
Freeport-McMoRan Inc Materials 13.5 -4.06%      4,546,660.00
IPG Photonics Corp Information Technology 169 -3.81%          448,292.00