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US stocks lost ground late day and closed mixed in the wake of Federal Reserve Chairman Powell's statement shrugging off inflation concerns

Oct 02, 2018

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US Markets End of Day Snapshot

  • US stocks lost ground late day and closed mixed in the wake of Federal Reserve President Powell's statement at a conference in Boston shrugging off inflation concerns
  • The S&P 500 finished down 0.04%, Nasdaq Composite is down 0.47%, and Russell 2000 is down 1.01%
  • Utilities (+1.29%), Consumer Staples (+0.62%), and Materials (+0.45%) stocks were the top performers in the S&P 500 today
  • Healthcare (-0.09%), Real Estate (-0.28%), and Consumer Discretionary (-1.43%) stocks were the worst performers in the S&P 500 today
  • Investor sentiment for US stocks finished negative with the advance/decline ratio for the S&P 500 closing at 0.92x
  • 92 stocks in the S&P 500 hit 4-week highs while 44 stocks reached 4-week lows
  • 37 stocks in the S&P 500 closed overbought while 24 stocks closed oversold according to the 16-day RSI Measure
  • 89 stocks in the Nasdaq Composite hit 4-week highs while 213 stocks reached 4-week lows
  • 249 stocks in the Nasdaq Composite closed overbought while 550 stocks closed oversold according to the 16-day RSI Measure
  • The VIX finished flat at 11.78 after closing at 12 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • General Electric (GE) had its credit rating cut today by S&P to BBB+, just three notches above junk.  This comes on the heels of both Fitch and Moody’s saying they may cut General Electric’s rating as well.    Despite the news, General Electric closed 1.9% higher at $12.32 as investors expect its new turn-around specialist CEO to deliver results soon.  General Electric is rated ‘Top Short’ in our US Large-Cap Global Top Picks and ‘Neutral’ in our US Industrials Global Top Picks
  • Och-Ziff Capital Management (OZM) has agreed to pay shareholders $29mm to settle a lawsuit alleging Och-Ziff Capital Management hid from investors its violations of foreign bribery laws.  The bribery allegations involved projects in Congo and Libya.   Och-Ziff Capital Management closed 1.4% lower at $1.41.  Och-Ziff Capital Management is rated ‘Neutral’ in our US SMID-Cap Global Top Picks
  • Pepsi (PEP) shares dropped after its CFO said Pepsi has no plans to enter the cannabis business.  When asked on the quarterly earnings call, the CFO stated “…we look at everything, but certainly no plans at this point to do anything.”  He reminded participants that marijuana is illegal under federal law and that makes any investments difficult.  Pepsi closed 1.7% lower at $108.90.  Pepsi is rated ‘Neutral’ in our US Large-Cap Global top Picks and “Attractive” in our US Consumer Staples Global Top Picks

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -1.21 basis points to 2.80%
  • US 5-Year Treasury Bonds are higher with yields down -2.04 basis points to 2.94%
  • US 10-Year Treasury Bonds are higher with yields down -2.98 basis points to 3.05%
  • The US Treasury 2s-5s Spread has narrowed 0.83 basis points to 0.13%
  • The US Treasury 2s-10s Spread has narrowed 1.77 basis points to 0.25%
  • US Treasury 5s-10s Spread has narrowed 0.94 basis points to 0.11%

Currencies

  • EUR€ is down 0.25% against the USD$ in after hours to 1.1549
  • GBP£ is down 0.468% against the USD$ in after hours to 1.2981
  • CHF is little changed 0.01% against the USD$ in after hours to 1.0163
  • JPY¥ is down 0.255% against the USD$ in after hours to 113.64

Commodities

  • WTI Crude is little changed -0.09% to USD$75.23/bbl with the Brent-WTI spread down USD$-0.3 to USD$9.54/bbl
  • Gold is up 1.21% to USD$1203.43/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
Intel Corp Information Technology 48.1 3.55%    10,720,080.00
PG&E Corp Utilities 47.4 3.38%          886,234.00
Fluor Corp Industrials 60.3 2.80%          381,365.00
AES Corp/VA Utilities 14.4 2.70%      1,290,089.00
Newmont Mining Corp Materials 31.2 2.70%      2,412,240.00
 
Underformers Sector Price 1D % Chg Volume
Macy's Inc Consumer Discretionary 33.3 -4.84% 1663038.00
Advanced Micro Devices Inc Information Technology 29 -7.64% 28621811.00
Foot Locker Inc Consumer Discretionary 47.4 -5.56% 769293.00
Edwards Lifesciences Corp Health Care 162 -5.10% 480948.00
Gap Inc/The Consumer Discretionary 27.3 -4.91% 1175210.00