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US stocks suffering a broad selloff in midday trading with S&P500 at 7-week low as yield and trade concerns are driving market unease

Oct 10, 2018

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US Market Snapshot

  • US stocks are suffering a broad sell-off in midday trading as concerns on US bonds yields and trade are driving market unease
  • The S&P 500 is currently down 1.45%, Nasdaq Composite is down 1.95%, and Russell 2000 is down 1.2%
  • Utilities (+0.8%), Consumer Staples (+0.41%), and Real Estate (-0.07%) stocks are the top performers in the S&P 500 today
  • Energy (-1.98%), Industrials (-2.22%), and Tech (-2.46%) 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 0.34x
  • 58 stocks in the S&P500 are at 4-week highs while 100 stocks are at 4-week lows
  • 16 stocks in the S&P 500 are overbought while 64 stocks are oversold according to the 16-day RSI Measure
  • 42 stocks in the Nasdaq Composite are at 4-week highs while 355 stocks are at 4-week lows
  • 126 stocks in the Nasdaq Composite are overbought while 549 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently  moving down at 11.78 from yesterday's close of 15.95

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Aetna (AET) and CVS Health Corp (CVS) got approval from the US Justice Department to go ahead with their USD$68bn merger.  Aetna satisfied the Justice Department’s demand that it sell its Medicare drug plan unit, and now that it has, the merger can proceed.  Aetna is up 1.3% at $206.36 and CVS Health Corp is up 0.90% at $80.16.  Aetna is rated ‘Neutral’ in our US Large-Cap Global Top Picks and CVS Health Corp is rated ‘Attractive’ in our US Large-Cap Global Top Picks
  • Clorox (CLX) shares are down 0.45% midday after Deutsche Bank downgraded the shares to sell from hold.  In its note on Clorox, Deutsche highlighted concerns about its underlying profit sustainability as one of the main reasons for the downgrade.  Clorox is rated ‘Neutral’ in our US Large Cap Global Top Picks and ‘Top Buy’ in our US Consumer Staples Global Top Picks 
  • Discovery (DISCA) was upgraded to outperform at Credit Suisse today.  Discovery is trading 1.6% higher on the news at $32.88.  Credit Suisse noted that improved ratings data led to “an increase in our US revenue forecast”, serving as the basis for the upgrade.  Discovery is not rated in our Global Top Picks

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 0.02 basis points to 2.88%
  • US 5-Year Treasury Bonds are lower with yields up 0.69 basis points to 3.06%
  • US 10-Year Treasury Bonds are lower with yields up 1.14 basis points to 3.21%
  • The US Treasury 2s-5s Spread has widened 0.67 basis points to 0.18%
  • The US Treasury 2s-10s Spread has widened 1.12 basis points to 0.33%
  • US Treasury 5s-10s Spread has widened 0.45 basis points to 0.16%

Currencies

  • EUR€ is currently up 0.444% against the USD$ to 1.1542
  • GBP£ is currently up 0.495% against the USD$ to 1.3208
  • CHF is currently little changed against the USD$ at 1.0093
  • JPY¥ is currently down 0.168% against the USD$ to 112.77

Commodities

  • WTI Crude is currently down -2.07% to USD$73.41/bbl with the Brent-WTI spread up USD$0.56 to USD$10.32/bbl
  • Gold is currently little changed -0.04% to USD$1189.35/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
Kohl's Corp Consumer Discretionary 72.9 2.85%          234,030.00
General Mills Inc Consumer Staples 44.5 2.77%          352,839.00
JM Smucker Co/The Consumer Staples 105 2.54%            83,331.00
Perrigo Co PLC Health Care 73.4 2.34%          161,066.00
Cardinal Health Inc Health Care 55.5 2.10%          279,691.00
 
Underformers Sector Price 1D % Chg Volume
TripAdvisor Inc Communication Services 43.8 -8.31%          805,927.00
Tiffany & Co Consumer Discretionary 114 -7.26%          219,223.00
Twitter Inc Communication Services 27.2 -6.94%      3,268,872.00
Advanced Micro Devices Inc Information Technology 25.3 -6.79%    14,781,942.00
Hess Corp Energy 68.1 -6.10%          362,094.00