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US stocks retreat as oil plunges to a 1 year low

Nov 23, 2018

 

US Markets End of Day Snapshot

  • Black Friday brought red screens to US stocks today in a shortened day of trading
  • WTO crude plunged almost 7% today to a 1 year low, sending energy stocks lower; they were the worst performers of the S&P500
  • The S&P 500 finished down 0.66%, Nasdaq Composite is down 0.48%, and Russell 2000 up 0.03%
  • Consumer Staples (+0.34%), Utilities (+0.13%), and Healthcare (+0.12%) stocks were the top performers in the S&P 500 today
  • Materials (-1.1%), Telecom (-1.19%), and Energy (-3.26%) stocks were the worst performers in the S&P 500 today
  • Investor sentiment for US stocks finished negative with the advance/decline ratio for the S&P 500 closing at 0.68x
  • 21 stocks in the S&P 500 hit 4-week highs while 14 stocks reached 4-week lows
  • 4 stocks in the S&P 500 closed overbought while 23 stocks closed oversold according to the 16-day RSI Measure
  • 35 stocks in the Nasdaq Composite hit 4-week highs while 184 stocks reached 4-week lows
  • 113 stocks in the Nasdaq Composite closed overbought while 195 stocks closed oversold according to the 16-day RSI Measure
  • The VIX closed up 0.72 points today  21.52 after closing at 20.80 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Boeing (BA) is preparing for the first report to be released on the Lion Air crash.  Indonesian authorities are due to release the initial findings on November 28th.  The cockpit voice recorded has not been found so all findings will be based on the black box data recorder.  Authorities may indicate a cause with these findings as it is believed a faulty sensor may have sent the Boeing 737 Max plunging into the sea.  Boeing is rated “Attractive” in both our US Large-Cap and US Industrials Global Top Stock Ideas
  • Goldman Sachs (GS) confirmed that CEO Lloyd Blankfein met with Low Taek Jho in 2012, the financier at the heart of the coutry’s fraud and bribery scandal.  The New York Times first reported this fact and Goldman Sachs confirmed it.  The Times also reported that US prosecutors are examining this meeting as part of its investigation into the matter.  Goldman Sachs has suffered recently as it has been linked to many of the alleged events in the scandal.  Goldman Sachs is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas.
  • General Motors (GM) was informed by the National Highway Traffic Safety Administration that it is opening an investigation into complaints about GM SUVs and pickups.  The National Highway Traffic Safety Administration is investigating potential problems with the brakes as there have been 111 complaints of poor performing brakes with 9 accidents.  General Motors is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas.
  • Kohl’s Corp (KSS) CEO Michelle Glass commented this morning on how strong Thanksgiving sales were.  She said Kohl’s saw a record number of shoppers use the buy it on line, pick up in store option.    She said Kohl’s was selling 60 Instant Pots per minute on line as well as 40 FitBits per minute.   Kohl’s, she said, is benefitting from the store closures of other retailers.  Kohl’s is rated is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
  • Macy’s (M) investors await clarity on today’s Black Friday results. According to Bloomberg news, holiday shopping activity looks to be on pace to set record levels, although abnormally cold weather has caused slow start with many shoppers waiting weather out in their cars.  Macy’s is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas. Target is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
  • According to Target Corporation (TGT) CEO Brian Cornell, when discussing Black Friday, he said the retail industry is enjoying possibly the strongest environment for holiday shopping that he has seen in his 37-year career.  Target is offering mini iPad deals and teddy bears for $10 on this Black Friday.  Shoppers were lined up at its stores at 5pm yesterday when many opened.    Generally good shopping weather today is expected to help what should be a strong day of sales.  Target is rated “Top Buy” in both our US Large-Cap and US Consumer Discretionary Global Top Stock Ideas.
  • United Technologies (UTX) received approval from China for its purchase of aerospace supplier Rockwell Collins Inc (COL).  This is the last approval United Technologies needs for the deal to close, a deal that was announced a year ago.  The deal was approved by the US, EU and Brazil over the last 2 months and with this final approval United Technologies said today the deal will close in 3 days.  Untied Technologies 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 -0.03 basis points to 2.81%
  • US 5-Year Treasury Bonds are higher with yields down -1.88 basis points to 2.87%
  • US 10-Year Treasury Bonds are higher with yields down -2.01 basis points to 3.046%
  • The US Treasury 2s-5s Spread has narrowed 1.85 basis points to 0.06%
  • The US Treasury 2s-10s Spread has narrowed 1.98 basis points to 0.23%
  • US Treasury 5s-10s Spread has narrowed 0.13 basis points to 0.17%

Currencies

  • EUR€ is down 0.631% against the USD$ in after hours to 1.1331
  • GBP£ is down 0.551% against the USD$ in after hours to 1.2806
  • CHF is down 0.269% against the USD$ in after hours to 1.0023
  • JPY¥ is little changed 0.089% against the USD$ in after hours to 112.85

Commodities

  • WTI Crude is down -6.69% to USD$50.79/bbl with the Brent-WTI spread up USD$0.97 to USD$7.6/bbl
  • Gold is down -0.38% to USD$1223.93/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
Rockwell Collins Inc Industrials 141.63 9.21%            1,022,183
American Airlines Group Inc Industrials 37.95 4.51%            1,886,395
Advanced Micro Devices Inc Information Technology 19.38 3.47%          10,351,443
IPG Photonics Corp Information Technology 137.74 2.76%                107,529
Royal Caribbean Cruises Ltd Consumer Discretionary 110.28 2.71%                167,460
 
Underformers Sector Price 1D % Chg Volume
Concho Resources Inc Energy 126.96 -6.31%                279,243
Devon Energy Corp Energy 26.91 -5.68%            1,263,289
Freeport-McMoRan Inc Materials 10.77 -5.61%            1,787,768
EOG Resources Inc Energy 100.7 -5.00%                800,290
Phillips 66 Energy 89 -4.97%                575,108