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US stocks are mixed midday with tech shares lower on news Apple won't boost iPhone production, broader market shows tepid gains on eve of mid-term election

Nov 05, 2018

 

 

US Market Snapshot

  • US stocks are mixed today at mid-session with tech shares leading the losses after a report said Apple will not boost iPhone production, broader market shows tepid gains on the eve of the US mid-term elections
  • The S&P 500 is currently up 0.14%, Nasdaq Composite is down 0.9%, and Russell 2000 is down 0.52%
  • Real Estate (+1.58%), Utilities (+1.48%), and Energy (+1.33%) stocks are the top performers in the S&P 500 today
  • Consumer Discretionary (-0.61%), Tech (-0.83%), and Telecom (-0.99%) 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 1.62x
  • 57 stocks in the S&P500 are at 4-week highs while 22 stocks are at 4-week lows
  • 5 stocks in the S&P 500 are overbought while 18 stocks are oversold according to the 16-day RSI Measure
  • 52 stocks in the Nasdaq Composite are at 4-week highs while 123 stocks are at 4-week lows
  • 308 stocks in the Nasdaq Composite are overbought while 148 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently  moving down at 11.78 from last week's close of 19.51

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Alibaba (BABA) co-founder Jack Ma said the trade fight between the US and China is “senseless” as the conflict widens.  The Alibaba’s co-founder recently said he thought the conflict could last 2 decades and that it was pointless because the Asian nation is soon to become a major buyer of goods.  Alibaba is rated “Neutral” in our China All-Cap Global Top Stock Ideas.
  • Apple (AAPL) has cancelled plans for additional production lines for its budget iPhone XR model according to a report by Nikkei.  Apple now plans 20-25% less production of that model according to the report.  None of the Apple suppliers cited will be producing at full capacity and one will not produce any.  Apple increased its iPhone 8 and iPhone 8Plus models by 5mn units to 25mn total.  Apple is rated “Attractive” on both our US Large-Cap and US Information Technology Global Top Stock Ideas.
  • Builders FirstSource Inc. (BLDR) shares are falling the most in intraday trading since December 2015 after Sun Trust lowered its price target from USD$25/share to USD$17/share and Evercore ISI downgraded the stock to underperform from in line. Trading volume for BLDR shares was 11x its 20-day average. Builders FirstSource is rated “Attractive” in both our US SMID-Cap and US Industrials Global Top Stock Ideas. 
  • Ceragon (CRNT) is seeing its shares rise after reporting CY3Q2018 y/y revenue growth of 13.9% to USD$86.5mm while consensus estimates called for uSD$82.3mm. Ceragon’s bottom-line adjusted EPS in CY3Q2018 came in at USD$0.07/share while consensus estimates called for USD$0.04/share. Ceragon is not rated in our Global Top Stock Ideas.  
  • Chevron (CVX) shares were upgraded from neutral to outperform at Credit Suisse with its price target of USD$138 being reiterated. In a published note on Chevron, Credit Suisse cited that it sees upside in Chevron’s 2019-2020 volume forecasts that is supported by strong Permian growth. Chevron is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.  
  • Sysco (SYY) shares are tumbling after reporting FY1Q2019 adjusted EPS of USD$0.91/shares while consensus adjusted EPS estimates called for USD$0.92. Sysco’s FY1Q2019 total revenue of USD$15.22bn was also short of consensus revenue estimates of USD$15.39bn. Sysco underwent “expense challenges” during their most recent quarter, which caused the firm’s FY1Q2019 adjusted operating income to miss consensus estimates of USD$734.3mm, reporting adjusted operating income of USD$691.7mm. Sysco is rated “Attractive” in both our US Large-Cap and US Consumer Staples Global Top Stock Ideas.  

 

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -0.41 basis points to 2.89%
  • US 5-Year Treasury Bonds are higher with yields down -1.7 basis points to 3.01%
  • US 10-Year Treasury Bonds are higher with yields down -2.46 basis points to 3.18%
  • The US Treasury 2s-5s Spread has narrowed 1.29 basis points to 0.12%
  • The US Treasury 2s-10s Spread has narrowed 2.05 basis points to 0.29%
  • US Treasury 5s-10s Spread has narrowed 0.76 basis points to 0.17%
     

Currencies

  • EUR€ is currently little changed against the USD$ at 1.1391
  • GBP£ is currently up 0.355% against the USD$ to 1.3016
  • CHF is currently down 0.231% against the USD$ to 0.9944
  • JPY¥ is currently little changed against the USD$ at 113.21

Commodities

  • WTI Crude is currently up 0.43% to USD$63.41/bbl with the Brent-WTI spread up USD$0.53 to USD$9.25/bbl
  • Gold is currently down -0.27% to USD$1229.53/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
EQT Corp Energy 34.8 7.17%                253,869
Cabot Oil & Gas Corp Energy 25.8 5.42%                726,608
Berkshire Hathaway Inc Financials 216 4.88%                660,080
Eli Lilly & Co Health Care 111.42 4.17%                412,174
Chevron Corp Energy 119.05 4.01%                712,558
 
Underperformers Sector Price 1D % Chg Volume
Sysco Corp Consumer Staples 64.6 -9.83%                604,681
Qorvo Inc Information Technology 68.9 -7.61%                437,122
Activision Blizzard Inc Communication Services 64.4 -7.07%            1,875,680
Advanced Micro Devices Inc Information Technology 19.1 -6.06%          11,559,485
IPG Photonics Corp Information Technology 139 -5.07%                  75,977