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US stocks are mixed in midday trading as "quadruple witching" and the biggest sector reclassification since 1999 approach

Sep 21, 2018

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US Market Snapshot

  • US stocks are mixed during midday trading. At the close, the market will see "quadruple witching"-the expiration of both options and futures on both individual stocks and indexes as well as the first changes to the Global Industry Classification Standards since 1999
  • The sector reclassifications are resulting in significant rebalancing of portfolios today
  • The S&P 500 is currently up 0.23%, Nasdaq Composite is down 0.05%, and Russell 2000 is down 0.24%
  • Telecom (+1.56%), Industrials (+0.56%), and Energy (+0.48%) stocks are the top performers in the S&P 500 today
  • Real Estate (+0.12%), Materials (-0.06%), and Financials (-0.22%) 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 2.31x
  • 147 stocks in the S&P500 are at 4-week highs while 54 stocks are at 4-week lows
  • 72 stocks in the S&P 500 are overbought while 1 stocks are oversold according to the 16-day RSI Measure
  • 148 stocks in the Nasdaq Composite are at 4-week highs while 93 stocks are at 4-week lows
  • 323 stocks in the Nasdaq Composite are overbought while 244 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently little changed at 11.1 from yesterday's close of 11.8

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Jefferies (JEF) is trading 1.7% lower at $23.29 after reporting a 5.1% drop in investment banking revenue.  “The usual summer slowdown appeared to impact activity levels in the primary and secondary markets” said Jefferies' CEO.  Jefferies is rated ‘Neutral’ in our US Large-Cap Global Top Picks
  • Mylan (MYL) is trading 0.70% higher after RBC published a note highlighting how a leveraged buyout for the company could make sense, changing its view which previously dismissed the idea.  An LBO, it indicates, would give the company additional options going forward at a time management is frustrated with the stock price.  Mylan is rated ‘Neutral’ in our US Large-Cap Global Top Picks
  • Texas Instruments (TXN) announced a dividend hike and $12bn share buyback plan.  The dividend was hiked to 77 cents from 62 cents per share while consensus was 75 cents.  The $12bn announced is in addition to $7.4bn in outstanding in June 2018.  The stock is 2% higher at $110.68.  Texas Instruments is rated ‘Top Buy’ in both our US Large-Cap and US Information Technology Global Top Picks

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 0.91 basis points to 2.81%
  • US 5-Year Treasury Bonds are lower with yields up 0.89 basis points to 2.96%
  • US 10-Year Treasury Bonds are lower with yields up 1.13 basis points to 3.07%
  • The US Treasury 2s-5s Spread has narrowed 0.02 basis points to 0.15%
  • The US Treasury 2s-10s Spread has widened 0.22 basis points to 0.26%
  • US Treasury 5s-10s Spread has widened 0.24 basis points to 0.11%

Currencies

  • EUR€ is currently down 0.297% against the USD$ to 1.1742
  • GBP£ is currently down 1.462% against the USD$ to 1.3071
  • CHF is currently little changed against the USD$ at 1.0422
  • JPY¥ is currently little changed against the USD$ at 112.62

Commodities

  • WTI Crude is currently up 1.27% to USD$71.7/bbl with the Brent-WTI spread down USD$-1.65 to USD$6.45/bbl
  • Gold is currently down -0.79% to USD$1197.61/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
American Airlines Group Inc Industrials 43.8 4.37%            1,652,238
Under Armour Inc Consumer Discretionary 18.9 4.04%            2,499,983
Delta Air Lines Inc Industrials 60.2 3.46%            1,207,635
IPG Photonics Corp Information Technology 168 3.38%                168,799
Freeport-McMoRan Inc Materials 14.8 2.50%            4,204,953
 
Underformers Sector Price 1D % Chg Volume
Copart Inc Industrials 53.6 -4.63%                630,796
Twitter Inc Information Technology 29.1 -2.51%            2,080,200
Micron Technology Inc Information Technology 44.9 -2.37%          12,073,808
Duke Energy Corp Utilities 78.8 -2.08%            2,259,262
Coty Inc Consumer Staples 12.8 -2.07%                941,541