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US stocks sell off midday as mixed corporate earnings raise fears of slower growth ahead

Oct 18, 2018

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US Market Snapshot

  • US stocks are selling off midday as mixed corporate earnings raise fears of slower growth ahead
  • The S&P 500 is currently down 1.33%, Nasdaq Composite is down 1.91%, and Russell 2000 is down 1.43%
  • Utilities (+0.1%), Real Estate (-0.06%), and Consumer Staples (-0.21%) stocks are the top performers in the S&P 500 today
  • Consumer Discretionary (-1.82%), Tech (-1.97%), and Telecom (-2.02%) 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 0.23x
  • 13 stocks in the S&P500 are at 4-week highs while 42 stocks are at 4-week lows
  • 0 stocks in the S&P 500 are overbought while 47 stocks are oversold according to the 16-day RSI Measure
  • 31 stocks in the Nasdaq Composite are at 4-week highs while 205 stocks are at 4-week lows
  • 97 stocks in the Nasdaq Composite are overbought while 247 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently moving higher at 19.84 from yesterday's close of 17.4

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Facebook (FB) is “delighted” with its war room’s response to Brazilian elections issues, an article in Blomberg today reports.  Facebook quickly identified and removed malicious hate speech targeting a specific area in Brazil during its presidential election in a matter of hours.  Facebook was very proud of its quick response, the article notes.  Facebook is trading at $154.92, down 2.8%.  Facebook is rated ‘Neutral’ in our US Large-Cap Global Top Stock Ideas and ‘Attractive’ in our US Information Technology Global Top Stock Ideas.
  • Philip Morris International (PM) is trading 3.7% higher to $87.68 after reporting 3Q results that came above estimates.  Philip Morris International delivered profit and revenues above estimates, attracting buyers today.  Philip Morris International also reaffirmed its guidance for the year.  Philip Morris International is rated ‘Neutral’ in our US Large-Cap Global Top Stock Ideas and ‘Attractive’ in our US Consumer Staples Global Top Stock Ideas.
  • United Rentals (URI) is trading 9% lower to $126.30 after decent results yesterday.  United Rentals provided full-year guidance that matched consensus of USD$7.77-7.87 billion.  Without any positive surprises and with that news already priced in, United Rentals is falling the most in over 2 years.  United Rentals is rated ‘Attractive’ in our US Large-Cap Global Top Stock Ideas and ‘Top Buy’ in our US Industrials Global Top Stock Ideas.
     

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -1.65 basis points to 2.87%
  • US 5-Year Treasury Bonds are higher with yields down -3.26 basis points to 3.02%
  • US 10-Year Treasury Bonds are higher with yields down -3.21 basis points to 3.17%
  • The US Treasury 2s-5s Spread has narrowed 1.61 basis points to 0.15%
  • The US Treasury 2s-10s Spread has narrowed 1.56 basis points to 0.3%
  • US Treasury 5s-10s Spread has widened 0.05 basis points to 0.15%
     

Currencies

  • EUR€ is currently little changed against the USD$ at 1.1485
  • GBP£ is currently down 0.45% against the USD$ to 1.3056
  • CHF is currently little changed against the USD$ at 1.006
  • JPY¥ is currently down 0.462% against the USD$ to 112.13

Commodities

  • WTI Crude is currently down -0.53% to USD$69.38/bbl with the Brent-WTI spread down USD$-0.76 to USD$10.01/bbl
  • Gold is currently up 0.62% to USD$1229.9/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
Alliance Data Systems Corp Information Technology 219 3.68%                  74,249
Philip Morris International Inc Consumer Staples 87.3 3.20%                864,693
Invesco Ltd Financials 21.6 3.15%            1,252,643
Genuine Parts Co Consumer Discretionary 97.6 2.60%                  89,668
Campbell Soup Co Consumer Staples 37.10 2.04%                355,544
 
Underperformers Sector Price 1D % Chg Volume
United Rentals Inc Industrials 125 -9.98%                492,237
Textron Inc Industrials 58.8 -9.28%                849,127
Snap-on Inc Industrials 155 -7.49%                131,992
Sealed Air Corp Materials 32.8 -7.11%                568,745
Activision Blizzard Inc Communication Services 73 -6.74%            2,643,985