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US stocks surge, rising the most in 6 months as a strong start to 3Q earnings season propels markets higher

Oct 16, 2018

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US Markets End of Day Snapshot

  • US stocks rally across the board, surging the most in 6 months as the 3Q earnings season starts strong and propels markets higher
  • The S&P 500 finished up 2.15%, Nasdaq Composite up 2.89%, and Russell 2000 up 2.82%
  • Tech (+3.02%), Healthcare (+2.9%), and Telecom (+2.34%) stocks were the top performers in the S&P 500 today
  • Utilities (+1.16%), Consumer Staples (+1.05%), and Energy (+0.87%) 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 26.78x
  • 4 stocks in the S&P 500 hit 4-week highs while 25 stocks reached 4-week lows
  • 0 stocks in the S&P 500 closed overbought while 132 stocks closed oversold according to the 16-day RSI Measure
  • 27 stocks in the Nasdaq Composite hit 4-week highs while 513 stocks reached 4-week lows
  • 60 stocks in the Nasdaq Composite closed overbought while 551 stocks closed oversold according to the 16-day RSI Measure
  • The VIX closed down 3.68 points today  to 17.62 after closing at 21.3 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Adobe (ADBE) hosted a bullish conference call and its stock closed 9.6% higher at $261.  Adobe gave bullish guidance for 2019 with sales expected to grow as much as 20%, it said on the call.  Adobe is expanding its business offerings as it bolsters its creative suite of software.  Adobe is rated ‘Top Buy’ in our US Large-Cap Global Top Stock Ideas and ‘Neutral’ in our US Information Technology Global Top Stock Ideas.
  • Domino’s Pizza (DPZ) closed 4.8% lower at $259.70 after reporting growth in 3Q that slightly trailed expectations.  Domino’s Pizza 3Q same store sales grew at 6.3%, below 6.5% consensus.  Investors used the miss a reason to sell Domino’s Pizza in today’s session.  Domino’s Pizza is rated ‘Attractive’ in our US Large-Cap Global Top Stock Ideas and ‘Top Buy’ in our US Consumer Discretionary Global Top Stock Ideas.
  • Omnicom Group (OMC) surged 7% to close at $74.40 after reporting growth in the US market.  Omnicom Group has been struggling in the US so even the tepid growth it reported in the region was taken as extremely positive as Omnicom Group’s CEO said he is “cautiously optimistic” on future growth potential.  Omnicom Group is rated ‘Neutral’ in our US Large-Cap Global Top Stock Ideas and ‘Attractive’ in our US Consumer Discretionary Global Top Stock Ideas.
  • Netflix (NFLX) beat expectations for subscriber additions by a long shot, adding 6.96mm new subscriber compared with 5.09mm expected.  Netflix earnings were also well above expected coming at 89 cents per share versus 68 cents consensus.  Most of the Netflix subscriber growth came from overseas as it launched a record amount of new programming in the quarter.  Netflix is trading 14% higher in post-market trading to $393.30.  Netflix is rated ‘Netrual’ in our US Large-Cap Global Top Stock Ideas and ‘Neutral’ in our US Consumer Discretionary Global Top Stock
     

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 1.05 basis points to 2.86%
  • US 5-Year Treasury Bonds are lower with yields up 1.21 basis points to 3.02%
  • US 10-Year Treasury Bonds are lower with yields up 0.38 basis points to 3.15%
  • The US Treasury 2s-5s Spread has widened 0.16 basis points to 0.16%
  • The US Treasury 2s-10s Spread has narrowed 0.67 basis points to 0.29%
  • US Treasury 5s-10s Spread has narrowed 0.83 basis points to 0.14%

Currencies

  • EUR€ is little changed 0.035% against the USD$ in after hours to 1.1575
  • GBP£ is up 0.266% against the USD$ in after hours to 1.3187
  • CHF is down 0.375% against the USD$ in after hours to 1.0095
  • JPY¥ is up 0.447% against the USD$ in after hours to 112.27

Commodities

  • WTI Crude is little changed 0.2% to USD$71.92/bbl with the Brent-WTI spread up USD$0.61 to USD$9.79/bbl
  • Gold is little changed -0.19% to USD$1224.73/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
Adobe Systems Inc Information Technology 261 9.52%            2,490,726
Advanced Micro Devices Inc Information Technology 28.2 7.31%          14,183,231
Omnicom Group Inc Communication Services 74.4 6.99%            1,070,238
Dollar Tree Inc Consumer Discretionary 86.5 6.83%            2,630,368
Progressive Corp Financials 70.27 6.08            1,335,394
 
Underformers Sector Price 1D % Chg Volume
WW Grainger Inc Industrials 280 -11.95%                593,646
BlackRock Inc Financials 408 -4.44%                419,484
AutoZone Inc Consumer Discretionary 774 -1.71%                  97,193
Freeport-McMoRan Inc Materials 12.7 -1.17%            3,668,922
Newmont Mining Corp Materials 32.3 -1.13%            1,094,967