blog

Latest from the Quantamize Blog

US stocks sold off broadly, the Nasdaq plunged the most in 7 years, the S&P 500 revisited levels of 3 months ago as the risk-off trend continued

Oct 10, 2018

Start Your Free Trial Today

 

US Markets End of Day Snapshot

  • Risk-off sentiment ruled the day for US stocks today with the Nasdaq plunging the most in 7 years and the S&P 500 back at levels of 3 months ago
  • Positive correlations between US treasury yields and US stocks appears to be broken -- in the past, negative correlations have been associated with sharp corrections in stocks valuations
  • The S&P 500 finished down 3.29%, Nasdaq Composite is down 4.08%, and Russell 2000 is down 2.86%
  • Utilities (-0.53%), Consumer Staples (-1.27%), and Real Estate (-1.61%) stocks were the top performers in the S&P 500 today
  • Consumer Discretionary (-3.74%), Telecom (-3.94%), and Tech (-4.77%) 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 0.04x
  • 58 stocks in the S&P 500 hit 4-week highs while 100 stocks reached 4-week lows
  • 16 stocks in the S&P 500 closed overbought while 64 stocks closed oversold according to the 16-day RSI Measure
  • 42 stocks in the Nasdaq Composite hit 4-week highs while 355 stocks reached 4-week lows
  • 126 stocks in the Nasdaq Composite closed overbought while 549 stocks closed oversold according to the 16-day RSI Measure
  • The VIX closed  down -4.17 points today  to 11.78 after closing at 15.95 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • Amazon (AMZN) is raising the total compensation of many employees further after announcing raising the minimum it pays employees to $15 per hour.  After complaints from some about losing bonuses, Amazon will be offering bonuses for milestones at the company and for good attendance plus raising the pay of those who were already earning $15 per hour more than the $1 per hour originally announced.  Amazon closed 6.2% lower at $1755.24.  Amazon is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Top Buy” in our US Consumer Discretionary Global Top Picks
  • McDonald’s (MCD) was upgraded today at Guggenheim to buy from neutral with a $200 price target, the highest in the market.  McDonald’s valuation discount to its peers is “unjustifiable” given its improving comps and better expected cash flow generation, according to the report.  McDonald’s closed 0.86% lower at $168.37.  McDonald’s is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Top Buy” in our US Consumer Discretionary Global Top Picks
  • Telsa (TSLA) CEO Elon Musk must explain by tomorrow to the judge in his SEC case why she should accept the settlement.  A Bloomberg article today quotes a number of legal professionals who wonder whether she will ask about the Tesla CEO’s mocking of the SEC shortly after agreeing to the settlement.  A Brooklyn Law School professor is quoted saying “If I were the judge I’d ask what’s going on here…”  Tesla shares closed down 2.5% at $256.81.  Telsa is rated ‘Unattractive’ in both our US Large-Cap Global Top Picks and US Consumer Discretionary Global Top Picks

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -3.68 basis points to 2.84%
  • US 5-Year Treasury Bonds are higher with yields down -3.94 basis points to 3.01%
  • US 10-Year Treasury Bonds are higher with yields down -2.26 basis points to 3.18%
  • The US Treasury 2s-5s Spread has narrowed 0.26 basis points to 0.17%
  • The US Treasury 2s-10s Spread has widened 1.42 basis points to 0.34%
  • US Treasury 5s-10s Spread has widened 1.68 basis points to 0.17%

Currencies

  • EUR€ is up 0.287% against the USD$ in after hours to 1.1524
  • GBP£ is up 0.358% against the USD$ in after hours to 1.319
  • CHF is little changed 0.129% against the USD$ in after hours to 1.0095
  • JPY¥ is down 0.531% against the USD$ in after hours to 112.36

Commodities

  • WTI Crude is down -2.39% to USD$73.17/bbl with the Brent-WTI spread little changed USD$0.06 to USD$9.86/bbl
  • Gold is up 0.35% to USD$1193.91/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

On Mobile/Tablet scroll to the right.

Outperformers Sector Price 1D % Chg Volume
Perrigo Co PLC Health Care 72.9 1.94%          547,036.00
Dollar Tree Inc Consumer Discretionary 84.2 1.65%      1,458,981.00
JM Smucker Co/The Consumer Staples 104 1.54%          331,763.00
General Mills Inc Consumer Staples 43.9 1.50%      1,306,765.00
Newmont Mining Corp Materials 30.6 1.49%      1,825,620.00
 
Underformers Sector Price 1D % Chg Volume
Tiffany & Co Consumer Discretionary 110 -10.22%          625,466.00
Twitter Inc Communication Services 26.8 -8.47%      6,811,600.00
Ralph Lauren Corp Consumer Discretionary 117 -8.44%          347,261.00
Tapestry Inc Consumer Discretionary 43.8 -8.39%      1,383,546.00
Netflix Inc Communication Services 326 -8.38%      4,050,828.00