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US stocks rise broadly on tweet from President Trump claiming progress in trade talks with China

Nov 01, 2018

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US Market Snapshot

  • US stocks are rising broadly in the wake of a tweet from President Trump claiming progress in trade talks with China
  • The S&P 500 is currently up 0.73%, Nasdaq Composite is up 0.91%, and Russell 2000 is up 1.45%
  • Materials (+2.5%), Industrials (+1.38%), and Consumer Discretionary (+1.19%) stocks are the top performers in the S&P 500 today
  • Energy (-0.07%), Telecom (-0.37%), and Utilities (-0.84%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is positive with the advance/decline ratio for the S&P 500 currently at 3.2x
  • 50 stocks in the S&P500 are at 4-week highs while 12 stocks are at 4-week lows
  • 2 stocks in the S&P 500 are overbought while 49 stocks are oversold according to the 16-day RSI Measure
  • 37 stocks in the Nasdaq Composite are at 4-week highs while 273 stocks are at 4-week lows
  • 187 stocks in the Nasdaq Composite are overbought while 270 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently  moving down at 11.78 from yesterday's close of 21.23

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Church & Dwight (CHD) reported 3Q EPS that beat expectations.  Church & Dwight 3Q EPS of 58 cents beat 54 cents expected.  Church & Dwight 3Q revenue of USD$1.04 billion was above USD$1.02 billion expected.  Church & Dwight affirmed full year EPS guidance of USD$2.28.  Church & Dwight is rated “Top Buy” in both our US Large-Cap and US Consumer Staples Global Top Stock Ideas.
  • DowDupont (DWDP) reported 3Q adjusted EPS of 74 cents while 71 cents was consensus.  DowDupont reaffirmed its full year profit forecast.   DowDupont raised its post-merger cost savings target to USD$3.6 billion, up USD$300mn.  DowDuPont is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
  • Encana Corporation (TSX: ECA) has agreed to an all-stock deal to buy Newfield Exploration Company (NFX) for USD$5.5bn. Encana shareholders are reacting negatively to the acquisition as the company’s stock has fallen the most in intraday trading since the early 1980s. The pullback in Encana comes despite management’s promise of a 25% dividend hike and a USD$1.5bn share buyback plan. Encana Corporation is not rated in our Global Top Stock Ideas. Newfield Exploration Company is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas.  
  • Hanesbrands (HBI) shares are falling after the company reported earnings that missed consensus analyst estimates. Hanesbrands announced CY3Q2018 sales of USD$1.85bn while analyst consensus called for USD$1.87bn. Hanesbrands offered FY2018 guidance, forecasting FY2018 EPS of between USD$1.69 and USSD$1.73 while consensus EPS forecasts calls for USD$1.74. Hanesbrands is rated “Neutral” in our US Consumer Discretionary Global Top Stock Ideas and “Unattractive” in our US Large-Cap Global Top Stock Ideas. 
  • NXP Semiconductors NV (NXPI) shares are rising after the company reports higher-than-expected CY3Q2018 earnings. NXP Semiconductors announces CY3Q2018 top-line revenue of USD$2.45bn while consensus revenue estimates called for USD$2.42bn. NXP Semiconductors offered CY4Q2018 revenue guidance of between USD$2.32bn and USDF$2.47bn while analyst estimates range between USD$2.28bn and USD$2.50bn. NXP Semiconductors is not rated in our Global Top Stock Ideas.  
  • Pfizer (PFE) was downgraded at BMO Capital Markets to market perform from outperform.  Pfizer’s price target was lowered to USD$46 from USD$47.  Pfizer is rated “Attractive” in our US Large-Cap Global Top Stock Ideas.
  • Wayfair (W) shares are spiraling after the company reported disappointing CY3Q2018 earnings that were worse than the lowest analyst estimate. Wayfair reports a CY3Q2018 adjusted loss per share of USD$1.28 while consensus forecasted a loss per share of USD$1.11 and the lowest analyst estimate forecasted a loss per share of USD$1.21. Despite weak bottom-line income, Wayfair exceeded CY3Q2018 revenue estimates of USD$1.67bn in reporting CY3Q2018 revenue of USD$1.71bn. Wayfair is rated “Neutral” in both our US Large-Cap and US Consumer Discretionary Global Top Stock Ideas.  

 

 

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -2.04 basis points to 2.84%
  • US 5-Year Treasury Bonds are higher with yields down -1.35 basis points to 2.96%
  • US 10-Year Treasury Bonds are higher with yields down -0.75 basis points to 3.13%
  • The US Treasury 2s-5s Spread has widened 0.69 basis points to 0.11%
  • The US Treasury 2s-10s Spread has widened 1.29 basis points to 0.29%
  • US Treasury 5s-10s Spread has widened 0.6 basis points to 0.17%

Currencies

  • EUR€ is currently up 0.734% against the USD$ to 1.1395
  • GBP£ is currently up 1.645% against the USD$ to 1.2976
  • CHF is currently up 0.534% against the USD$ to 0.997
  • JPY¥ is currently down 0.204% against the USD$ to 112.71

Commodities

  • WTI Crude is currently down -2.94% to USD$63.39/bbl with the Brent-WTI spread up USD$0.92 to USD$8.98/bbl
  • Gold is currently up 1.43% to USD$1232.14/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
Newfield Exploration Co Energy 22.2 9.90%            2,370,021
Wynn Resorts Ltd Consumer Discretionary 111 9.54%                707,042
Church & Dwight Co Inc Consumer Staples 64.2 8.29%                402,935
Western Digital Corp Information Technology 46.42 7.73%            1,269,659
Advanced Micro Devices Inc Information Technology 19.59 7.47%          14,511,539
 
Underperformers Sector Price 1D % Chg Volume
Hanesbrands Inc Consumer Discretionary 15.9 -7.34%            1,050,207
PerkinElmer Inc Health Care 80.4 -7.00%                137,014
Allstate Corp/The Financials 90.7 -5.22%                322,501
IDEXX Laboratories Inc Health Care 204 -3.73%                211,802
Gartner Inc Information Technology 143 -3.59%                  84,845