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US stocks down sharply, off lows of the day, as S&P 500 touches 4-month low amid volume 40% above average

Oct 23, 2018

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US Market Snapshot

  • US stocks are down sharply midday though off the lows of the session, the S&P 500 touched a 4 month low as volume was 40% above average
  • The S&P 500 is currently down 1.26%, Nasdaq Composite is down 1.24%, and Russell 2000 is down 1.03%
  • Real Estate (-0.21%), Consumer Staples (-0.38%), and Telecom (-0.64%) stocks are the top performers in the S&P 500 today
  • Materials (-1.85%), Industrials (-2.24%), and Energy (-3.31%) 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 0.18x
  • 17 stocks in the S&P500 are at 4-week highs while 142 stocks are at 4-week lows
  • 2 stocks in the S&P 500 are overbought while 108 stocks are oversold according to the 16-day RSI Measure
  • 33 stocks in the Nasdaq Composite are at 4-week highs while 447 stocks are at 4-week lows
  • 93 stocks in the Nasdaq Composite are overbought while 740 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently  moving higher at 21.92 from yesterday's close of 19.64

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Asbury Auto (ABG) reported 3Q revenue above the highest expectations, coming at USD$1.76 billion while consensus was USD$1.68 billion.  Asbury Auto 3Q adjusted EPS of USD$2.21 came above the USD$1.88 consensus.  Asbury Auto 3Q gross margin of 15.8% was a bit worse than 16.3% consensus.  Asbury Auto new and used vehicle same-store sales were both 7% higher y/y in 3Q.  Asbury Auto is rated ‘Top Buy’ in our US Large-Cap Global Top Stock Ideas and ‘Neutral’ in our US Consumer Discretionary Global Top Stock Ideas.
  • Avery Dennison (AVY) reported 3Q results that largely met expectations.  Avery Dennison 3Q sales of USD$1.76 billion were in line with USD$1.75 billion consensus.  Avery Dennison adjusted EPS of USD$1.45 came a touch below USD$1.47 consensus.  Avery Dennison increased full-year adjusted EPS guidance by 7 cents per share to USD$4.57-4.92 to reflect a cut in restructuring cost estimates.  Avery Dennison is rated ‘Attractive’ in our US Large-Cap Global Top Stock Ideas.
  • McDonald’s Corp (MCD) is trading 5.8% higher at $176.28 after reporting global comparable sales that beat consensus.  McDonald’s Corp served up 4.2% growth in comparable sales even in the face of weak sales in the US.  McDonald’s Corp continues to reap the benefits of its low-cost menu continues that, combined with its remodeling program, will pay dividends over time.  McDonald’s Corp is rated ‘Neutral’ in our US Large-Cap Global Top Stock Ideas and ‘Top Buy’ in our US Consumer Discretionary Global Top Stock Ideas.
     

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -4.59 basis points to 2.86%
  • US 5-Year Treasury Bonds are higher with yields down -6.88 basis points to 2.98%
  • US 10-Year Treasury Bonds are higher with yields down -6.23 basis points to 3.13%
  • The US Treasury 2s-5s Spread has narrowed 2.29 basis points to 0.12%
  • The US Treasury 2s-10s Spread has narrowed 1.64 basis points to 0.27%
  • US Treasury 5s-10s Spread has widened 0.65 basis points to 0.15%
     

Currencies

  • EUR€ is currently up 0.174% against the USD$ to 1.1484
  • GBP£ is currently up 0.255% against the USD$ to 1.2996
  • CHF is currently little changed against the USD$ at 1.0053
  • JPY¥ is currently down 0.55% against the USD$ to 112.2
     

Commodities

  • WTI Crude is currently down -4.03% to USD$66.38/bbl with the Brent-WTI spread down USD$-0.36 to USD$9.65/bbl
  • Gold is currently up 0.74% to USD$1231.11/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
Cadence Design Systems Inc Information Technology 45.8 12.83%                946,329
PulteGroup Inc Consumer Discretionary 22.3 6.80%            1,116,344
McDonald's Corp Consumer Discretionary 176 6.07%            1,304,660
Zions Bancorp NA Financials 47.5 4.72%                683,366
Lennar Corp Consumer Discretionary 40.86 3.66%                635,041
 
Underformers Sector Price 1D % Chg Volume
DISH Network Corp Communication Services 31.2 -9.81%                722,064
PACCAR Inc Industrials 56.4 -6.81%                748,782
Centene Corp Health Care 133 -6.10%                372,592
Quest Diagnostics Inc Health Care 95.3 -5.80%                202,815
Caterpillar Inc Industrials 122 -5.45%            2,295,890