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US stocks lower at midday on increased trade tensions and potential Justice Department shakeup

Sep 24, 2018

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US Market Snapshot

  • US stocks began the week seeing profit taking with renewed trade tensions and the potential for a shakeup at the Justice Department as press reports are that Deputy Attorney General Rod Rosenstein will resign
  • The S&P 500 is currently down 0.47%, Nasdaq Composite is down 0.25%, and Russell 2000 is down 0.77%
  • Energy (+1.51%), Tech (+0.1%), and Telecom (-0.05%) stocks are the top performers in the S&P 500 today
  • Consumer Staples (-1.45%), Materials (-1.47%), and Real Estate (-1.93%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is negative with the advance/decline ratio for the S&P 500 currently at 0.25x
  • 136 stocks in the S&P500 are at 4-week highs while 24 stocks are at 4-week lows
  • 73 stocks in the S&P 500 are overbought while 1 stock is oversold according to the 16-day RSI Measure
  • 122 stocks in the Nasdaq Composite are at 4-week highs while 92 stocks are at 4-week lows
  • 324 stocks in the Nasdaq Composite are overbought while 316 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently moving up at 12.73 from yesterday's close of 11.68

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Avon (AVP) is trading 7.3% lower at $2.26 despite an upgrade from DA Davidson today.  The firm cited Avon’s impressive CEO meeting and clear plan to turn around operations.  The price target was hiked to $3.50 from $1.75.  Avon is not rated in our Global Top Picks
  • Sirius (SIRI) is acquiring Pandora (P) in a $3.5bn all stock deal.  The deal values Pandora at $10.14 per share, a 12% premium to Friday’s close.  Sirius bought a $480mn stake in Pandora last year and is now acquiring the rest.  Sirius is falling 7.7% at $6.46 while Pandora is 2.8% higher at $9.36.  Sirius is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Top Buy’ in our US Consumer Discretionary Global Top Picks.  Pandora is rated ‘Top Short’ in our US Large-Cap Global Top Picks and ‘Unattractive’ in our US Information Technology Global Top Picks.
  • Symantec (SYMC) is trading 3.3% higher at $21.60 after its audit committee report stated that no restatement of results will be necessary and no one will need to be let go as a result of its investigation.  The committee made a number of recommendations for better practices and has forwarded those to the company for further consideration.  Symantec is rated ‘Top Short’ in our US Large-Cap Global Top Picks and ‘Unattractive’ in our US Information Technology Global Top Picks

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 0.87 basis points to 2.80%
  • US 5-Year Treasury Bonds are lower with yields up 0.87 basis points to 2.95%
  • US 10-Year Treasury Bonds are lower with yields up 1.12 basis points to 3.0%
  • The US Treasury 2s-5s Spread has little changed 0 basis points to 0.15%
  • The US Treasury 2s-10s Spread has widened 0.25 basis points to 0.27%
  • US Treasury 5s-10s Spread has widened 0.25 basis points to 0.12%

Currencies

  • EUR€ is currently up 0.196% against the USD$ to 1.1772
  • GBP£ is currently up 0.39% against the USD$ to 1.3123
  • CHF is currently down 0.297% against the USD$ to 1.04
  • JPY¥ is currently little changed against the USD$ at 112.59

Commodities

  • WTI Crude is currently up 2.67% to USD$73.7/bbl with the Brent-WTI spread little changed USD$0.23 to USD$6.74/bbl
  • Gold is currently little changed 0.07% to USD$1200.93/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
Edwards Lifesciences Corp Health Care 164 6.72%                426,589
ABIOMED Inc Health Care 410 6.53%                103,422
Nektar Therapeutics Health Care 62 4.93%                355,395
HollyFrontier Corp Energy 70.3 4.84%                217,957
Alexion Pharmaceuticals Inc Health Care 127 3.72%                528,514
 
Underformers Sector Price 1D % Chg Volume
Michael Kors Holdings Ltd Consumer Discretionary 66.5 -8.58%                331,037
Comcast Corp Consumer Discretionary 35.2 -7.02%            6,836,359
Newell Brands Inc Consumer Discretionary 20.5 -6.09%            1,473,920
General Electric Co Industrials 11.7 -3.94%          13,415,838
Alaska Air Group Inc Industrials 67.3 -3.85%                113,495

 

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