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S&P 500 locks in its best quarter since 2013, finishing +7.71% for 3Q as anticipation builds for Earnings Season

Sep 28, 2018

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US Markets End of Day Snapshot

  • US stocks traded in a tight range today with the S&P 500 ending the 3rd quarter with its best quarterly return since CY2013,  +7.71%
  • Earnings seasons kicks off next month with JP Morgan (JPM) on October 12
  • The S&P 500 finished flat, Nasdaq Composite up 0.05%, and Russell 2000 up 0.36%
  • For the week, the S&P500 finished down 0.51% while it was +0.57% for the month
  • Utilities (+1.51%), Real Estate (+1.31%), and Tech (+0.43%) stocks were the top performers in the S&P 500 today
  • Telecom (-0.39%), Materials (-0.68%), and Financials (-1.06%) stocks were the worst performers in the S&P 500 today
  • Investor sentiment for US stocks finished positive with the advance/decline ratio for the S&P 500 closing at 1.5x
  • 48 stocks in the S&P 500 hit 4-week highs while 89 stocks reached 4-week lows
  • 28 stocks in the S&P 500 closed overbought while 16 stocks closed oversold according to the 16-day RSI Measure
  • 106 stocks in the Nasdaq Composite hit 4-week highs while 153 stocks reached 4-week lows
  • 198 stocks in the Nasdaq Composite closed overbought while 485 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 12.12 after closing at 12.41 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Blackberry (TSX:BB) finished up 11.7% to USD$11.38, the biggest move in over a year following a strong earnings pre-market today.  Blackberry is not rated in our Global Top Picks.
  • Bojangles (NASDAQ:BOJA) finished up +12.5% to USD$15.70 after Reuters reports Bojangles is working with Bank of America to explore M&A options, including a potential sales.  Bojangles is rated “Top Buy” in our US SMID-Cap Global Topics and “Neutral” in our US Consumer Discretionary Global Top Picks.
  • Facebook (NASDAQ:FB) issued a statement this afternoon saying it has fixed an issue that caused a security breach impacting 50 million accounts.  Facebook closed down 2.59% to USD$164.46.  Facebook is rated "Neutral" in our US Large-Cap Global Top Picks and "Attractive" in our US Info Tech Global Top Picks.
  • JC Penny (NYSE: JCP) dropped as much 9.8%, finishing down 4.1% to USD1.66, the lowest level in 41 years after news that CFO Jeffery Davis left the company to join Qurate Retail as CFO.  JC Penny is rated “Unattractive” in our US Large-Cap Global Topics and “Top Short” in our US Consumer Discretionary Global Top Picks.
  • Nvidia (NASDAQ:NVDA) had its price target hiked at Evercore to $400, the highest in the market, from $300.  Nvidia will see accelerated revenue growth from new full-stack solutions gaining market share.  Nvidia finished +5.1% to USD$281.02.  Nvidia is rated ‘Attractive’ in both our US Large-Cap and US Information Technology Global Top Picks.
  • Omnicom Group (NYSE:OMC) finished down 0.28% to USD$68.02, after dropping as much as 3.5% following a downgrade by Barclays to Underweight.  Omnicom is rated “Neutral” in our US Large-Cap Global Topics and “Attractive” in our US Consumer Discretionary Global Top Picks.

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -0.81 basis points to 2.8188%
  • US 5-Year Treasury Bonds are higher with yields down -0.51 basis points to 2.9512%
  • US 10-Year Treasury Bonds are lower with yields up 0.94 basis points to 3.0612%
  • The US Treasury 2s-5s Spread has widened 0.3 basis points to 0.13%
  • The US Treasury 2s-10s Spread has widened 1.75 basis points to 0.24%
  • US Treasury 5s-10s Spread has widened 1.45 basis points to 0.11%

Currencies

  • EUR€ is down 0.292% against the USD$ in after hours to 1.1607
  • GBP£ is down 0.352% against the USD$ in after hours to 1.3033
  • CHF is down 0.45% against the USD$ in after hours to 1.0187
  • JPY¥ is up 0.273% against the USD$ in after hours to 113.69

Commodities

  • WTI Crude is up 1.57% to USD$73.25/bbl with the Brent-WTI spread up USD$0.35 to USD$9.77/bbl
  • Oil has had the longest run of weekly gains in four months, up each of the last three weeks,  as traders expect global crude oil prices to move closer to USD$100 over the next few months
  • Gold is up 0.73% to USD$1191.5/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
NVIDIA Corp Information Technology 281 5.09%      4,364,789.00
SCANA Corp Utilities 38.9 3.90%          473,681.00
Intel Corp Information Technology 47.3 3.07%    12,165,339.00
Conagra Brands Inc Consumer Staples 34 3.00%      2,616,255.00
Qorvo Inc Information Technology 76.9 2.90%          435,584.00
 
Underformers Sector Price 1D % Chg Volume
Advanced Micro Devices Inc Information Technology 30.9 -5.22%    32,166,295.00
S&P Global Inc Financials 195 -4.23%          742,401.00
Marathon Petroleum Corp Energy 80 -3.70%    15,341,807.00
Moody's Corp Financials 167 -3.61%          398,846.00
Twitter Inc Information Technology 28.5 -3.26%      3,812,875.00