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US stocks retreating from earlier highs with escalating US-China trade tensions weighing on tech stocks

Sep 10, 2018

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US Market Snapshot

  • US stocks have retreated from highs earlier in the day and the fear of trade tension weigh on the tech sector
  • The S&P 500 is currently up 0.36%, Nasdaq Composite is up 0.2%, and Russell 2000 is up 0.33%
  • Industrials (+0.74%), Real Estate (+0.56%), and Consumer Staples (+0.55%) stocks are the top performers in the S&P 500 today
  • Energy (+0.22%), Financials (+0.18%), and Healthcare (-0.18%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is positive with the advance/decline ratio for the S&P 500 currently at 3.63x
  • 64 stocks in the S&P500 are at 4-week highs while 71 stocks are at 4-week lows
  • 41 stocks in the S&P 500 are overbought while 19 stocks are oversold according to the 16-day RSI Measure
  • 156 stocks in the Nasdaq Composite are at 4-week highs while 118 stocks are at 4-week lows
  • 268 stocks in the Nasdaq Composite are overbought while 394 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently little changed at 14.03 from yesterday's close of 14.88

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Alphabet’s (GOOGL) Google has agreed to all of the Indian central bank’s requirements for storing data, according to a report from Bloomberg.  A government official informed reporters in New Delhi, asking to not be identified.  CEO Sundar Pichai met with government officials in late August and was reported to have assured regulators that Google Pay will meet all government requirements.  Alphabet is up 0.06% at $1178.24.  Alphabet is rated rated ‘Neutral’ in our US Large-Cap and 'Attractive' in our US Information Technology Global Top Picks
  • Constellation Brands (STZ) was downgraded by SunTrust to hold from buy.  The main concern cited was the potential around the USD$4bn investment in Canopy Growth-the potential to shift investor focus away from the outperforming beer portfolio.  Constellation is up 0.74% at $213.29.  Constellation is rated ‘Attractive’ in our US Large-Cap Global Top Picks and ‘Neutral’ in our US Consumer Staples. 
  • Tesla (TSLA) CEO Elon Musk announced that Jerome Guillen has been promoted to the new position of automotive president.  He was instrumental in the launch and ramp up of the Model 3, especially resolving the myriad of problems that accompanied it.  Tesla is up 6.1% at $279.10.  Tesla is rated ‘Unattractive’ in both our US Large-Cap and US Consumer Discretionary Global Top Picks.
  • United Rentals (URI) is acquiring BlueLine Rental for USD$2.1bn in cash.  The acquisition will bolster its industrial equipment business in North America and includes 46,000 rental assets.  United Rentals is up 5.4% at $160.86.  United Rentals is rated ‘Top Buy’ in both our US Large-Cap and US Industrials Global Top Picks.
     

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 0.42 basis points to 2.70%
  • US 5-Year Treasury Bonds are higher with yields down -0.17 basis points to 2.81%
  • US 10-Year Treasury Bonds are higher with yields down -0.55 basis points to 2.93%
  • The US Treasury 2s-5s Spread has narrowed 0.59 basis points to 0.11%
  • The US Treasury 2s-10s Spread has narrowed 0.97 basis points to 0.23%
  • US Treasury 5s-10s Spread has narrowed 0.38 basis points to 0.11%

Currencies

  • EUR€ is currently up 0.468% against the USD$ to 1.1603
  • GBP£ is currently up 0.797% against the USD$ to 1.3023
  • CHF is currently down 0.504% against the USD$ to 1.0265
  • JPY¥ is currently little changed against the USD$ at 111.1

Commodities

  • WTI Crude is currently down -0.32% to USD$67.53/bbl with the Brent-WTI spread up USD$0.46 to USD$9.27/bbl
  • Gold is currently little changed -0.06% to USD$1196.16/oz

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Sector ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Russell 1000 Factor ETFs - Intraday

*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
United Rentals Inc Industrials 161 5.44%          154,129.00
Advanced Micro Devices Inc Information Technology 29.2 5.44%    13,695,959.00
Foot Locker Inc Consumer Discretionary 48.7 4.26%          422,834.00
Akamai Technologies Inc Information Technology 76.9 3.49%          243,455.00
L Brands Inc Consumer Discretionary 27.93 3.27% 671440.00
 
Underformers Sector Price 1D % Chg Volume
Brown-Forman Corp Consumer Staples 51 -4.63%          179,326.00
Torchmark Corp Financials 85.1 -3.84%          123,480.00
CBS Corp Consumer Discretionary 54.8 -3.46%          661,171.00
Martin Marietta Materials Inc Materials 190 -3.14%          116,326.00
Anthem Inc Health Care 264 -2.89%          101,500.00