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US stocks are rising midday, approaching record levels on the first day of the quarter, as the agreement to update NAFTA brings confidence to the market

Oct 01, 2018

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US Market Snapshot

  • US stocks are rising amid broad strength in the markets in the wake of the agreement on updates to NAFTA, now called the United State Mexico Canada Agreement (USMCA)
  • The S&P 500 is currently up 0.63%, Nasdaq Composite is up 0.28%, and Russell 2000 is down 0.49%
  • Energy (+1.54%), Materials (+1.16%), and Industrials (+0.96%) stocks are the top performers in the S&P 500 today
  • Telecom (-0.15%), Real Estate (-0.31%), and Utilities (-0.57%) 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 1.7x
  • 58 stocks in the S&P500 are at 4-week highs while 88 stocks are at 4-week lows
  • 30 stocks in the S&P 500 are overbought while 20 stocks are oversold according to the 16-day RSI Measure
  • 112 stocks in the Nasdaq Composite are at 4-week highs while 133 stocks are at 4-week lows
  • 217 stocks in the Nasdaq Composite are overbought while 446 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently little changed at 11.78 from yesterday's close of 12.12

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Akorn Inc (AKRX) shares are falling 54% to $5.90 after it received an unfavorable ruling in its case against Fresenius SE (FRE GY) and its attempts to cancel their USD$4.3bn buyout.  The judge ruled that Akorn hid a number of key pieces of information about the validity of its data and its profitability.  Fresenius closed 8.5% higher at 68.62 euros.  Akorn is rated ‘Top Short’ in our US Large-Cap Global Top Picks and Fresenius is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
  • Applied Materials (AMAT) and Lam Research (LRCX) were both downgraded by Deutsche Bank today from buy to hold.  Applied Materials had its target cut to $43 from $58 while Lam Research had its price target cut to $170 from $230.    For both companies Deutsche sees a cyclical peak and a weak memory markets, factors cited as reasons to downgrade both. Applied Materials is down 1.2% at $39.19, Lam Research is down 0.28% at $151.25.  Applied is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Top Buy’ in our US Information Technology Global Top Picks, Lam Research is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Top Buy’ in our US Information Technology Global Top Picks
  • General Electric (GE) is trading 9.7% higher at $12.38 in the wake of its announcement replacing its CEO after only 1 year on the job.  He is being replaced by a turn-around expert and was a surprise to the markets.  General Electric is rated ‘Top Short’ in our US Large-Cap Global Top Picks and ‘Unattractive’ in our US industrials Global Top Picks

US Treasuries

  • US 2-Year Treasury Notes are flat with yields little changed 0.01 basis points to 2.81%
  • US 5-Year Treasury Bonds are flat with yields little changed 0 basis points to 2.95%
  • US 10-Year Treasury Bonds are lower with yields up 0.75 basis points to 3.06%
  • The US Treasury 2s-5s Spread has little changed 0.01 basis points to 0.13%
  • The US Treasury 2s-10s Spread has widened 0.74 basis points to 0.25%
  • US Treasury 5s-10s Spread has widened 0.75 basis points to 0.12%

Currencies

  • EUR€ is currently down 0.276% against the USD$ to 1.1572
  • GBP£ is currently little changed against the USD$ at 1.3038
  • CHF is currently down 0.216% against the USD$ to 1.0164
  • JPY¥ is currently up 0.202% against the USD$ to 113.93

Commodities

  • WTI Crude is currently up 2.03% to USD$74.74/bbl with the Brent-WTI spread little changed USD$-0.25 to USD$9.69/bbl
  • Gold is currently little changed -0.1% to USD$1189.65/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
General Electric Co Industrials 12.4 9.82%    29,335,255.00
Praxair Inc Materials 169 5.05%          188,182.00
DaVita Inc Health Care 75 4.70%          244,288.00
Hess Corp Energy 74.4 3.67%          246,191.00
Cimarex Energy Co Energy 96.4 3.62%            93,737.00
 
Underformers Sector Price 1D % Chg Volume
Nektar Therapeutics Health Care 55.4 -9.19%          781,482.00
F5 Networks Inc Information Technology 189 -5.15%          177,715.00
Viacom Inc Consumer Discretionary 32.5 -3.73%          629,299.00
CBS Corp Consumer Discretionary 56 -2.58%          138,011.00
SCANA Corp Utilities 38 -2.31%          103,505.00