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Profit taking in the tech sector as fears rise of an escalating trade war drives tech and broader equity prices lower

Sep 06, 2018

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US Markets End of Day Snapshot

  • Semiconductors led the tech sector lower as investors fear additional reciprocal tariffs from the US and China
  • The S&P 500 finished down 0.37%, Nasdaq Composite is down 0.91%, and Russell 2000 is down 0.76%
  • Telecom (+0.73%), Utilities (+0.39%), and Real Estate (+0.34%) stocks were the top performers in the S&P 500 today
  • Financials (-0.59%), Tech (-0.81%), and Energy (-1.93%) 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 0.96x
  • 102 stocks in the S&P 500 hit 4-week highs while 47 stocks reached 4-week lows
  • 50 stocks in the S&P 500 closed overbought while 10 stocks closed oversold according to the 16-day RSI Measure
  • 201 stocks in the Nasdaq Composite hit 4-week highs while 75 stocks reached 4-week lows
  • 301 stocks in the Nasdaq Composite closed overbought while 272 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 14.66 after closing at 13.91 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Barnes and Noble (BKS) shares suffered after the company reported same stores sales that fell 6.1% in the most recent quarter which were below even the worst estimates.  Barnes and Noble fell 8.5% to $4.55.  Barnes and Noble is rated ‘Neutral’ in our US SMID-Cap Global Top Picks and ‘Unattractive’ in our US Consumer Discretionary Global Top Picks
  • KLA-Tencor Corp (KLAC) dropped 12.5% to $106.31 after management indicated the December quarter “will be up a little less” than originally expected.  KLA fell with many other semiconductor names today.  KLA-Tencor is rated ‘Top Buy’ in both our US Large-Cap and US Information Technology Global Top Picks.
  • SS&C technologies (SSNC) has agreed to acquire Intralinks Holdings from Siris Capital in a deal valued at $1.5bn.  That will consist of $1bn in cash and $500mn in SS&C stock.  SS&C closed up 0.04% at $55.15.  SS&C is rated ‘Neutral’ in both our US Large-Cap and US Information Technology Global Top Picks.

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -1.63 basis points to 2.63%
  • US 5-Year Treasury Bonds are higher with yields down -2.36 basis points to 2.74%
  • US 10-Year Treasury Bonds are higher with yields down -2.55 basis points to 2.87%
  • The US Treasury 2s-5s Spread has narrowed 0.73 basis points to 0.11%
  • The US Treasury 2s-10s Spread has narrowed 0.92 basis points to 0.24%
  • US Treasury 5s-10s Spread has narrowed 0.19 basis points to 0.13%

Currencies

  • EUR€ is little changed 0.043% against the USD$ in after hours to 1.1625
  • GBP£ is up 0.178% against the USD$ in after hours to 1.2928
  • CHF is up 0.671% against the USD$ in after hours to 1.0359
  • JPY¥ is down 0.735% against the USD$ in after hours to 110.71

Commodities

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*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
General Mills Inc Consumer Staples 47 3.21%      1,113,645.00
CBS Corp Consumer Discretionary 54.6 3.15%          997,741.00
Royal Caribbean Cruises Ltd Consumer Discretionary 124 2.65%          528,173.00
Total System Services Inc Information Technology 99 2.53%          528,965.00
Southern Co/The Utilities 45.76 2.46% 2173012.00
 
Underformers Sector Price 1D % Chg Volume
Micron Technology Inc Information Technology 44.7 -9.87%    17,551,981.00
KLA-Tencor Corp Information Technology 107 -9.72%      1,335,611.00
Wynn Resorts Ltd Consumer Discretionary 128 -8.92%      1,966,792.00
Lam Research Corp Information Technology 160 -6.97%      1,830,194.00
Twitter Inc Information Technology 30.8 -5.87%      6,234,778.00