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Quantamize Midday Market Update

Apr 26, 2018

US Market Snapshot

US markets are higher today, likely due to strong earnings reports by tech companies this morning and after the close yesterday. The S&P 500 is up 0.85%, Russell 2000 is up 0.36%, and the Nasdaq is up 1.54%.

US Markets are being led higher today by Technology (+1.57%), Real Estate (+1.52%), and Energy (+1.01%), while Industrials (-0.94%), Financials (-0.07%), and Materials (+0.02%) are the biggest laggards.

Key US Tech Companies moving on earnings today (Click name for Q-Factor rating and financial data).

Advanced Micro Devices (AMD) +12.46%
Facebook (FB) +9.62%
eBay (EBAY) -6.27%
PayPal (PYPL) +4.61% 
Qualcomm (QCOM) +0.30%
Visa (V) +4.95%

S&P Sector ETFs - Intraday  Empty th Empty th
ETF Ticker Sector 1 Day % Move
XLK Technology 1.79%
XLRE Real Estate 1.56%
XLY Consumer Discretionary 1.26%
XLV Healthcare 1.08%
XLE Energy 0.91%
XLU Utilities 0.73%
XLB Materials 0.63%
XLP Consumer Staples 0.60%
XLF Financials  0.29%
XTL Telecom -0.10%
XLI Industrials -0.27%

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

Axa SA (CF.FR) expects to raise $3.7 billion from an IPO of its US life and savings subsidiary, Axa Equitable Holdings Inc.

Bayer AG (BAYN.GR) has agreed to sell its vegetable seed business as well as research on wheat hybrids, herbicides, and digital farming to BASF SE (BAS.GR) for $2.1 billion.

Chipotle Mexican Grill (CMG) shares are trading 24.30% higher after reporting strong earnings this morning, the first earnings report under new CEO Brian Niccol. Niccol has implemented new business strategies, such as drive-thrus and new menu items, which have provided a boost to Chipotle’s earnings.

EQT Corp (EQT), a natural gas transmission company, has agreed to buy Rice Midstream Partners LP in a deal worth $2.1 billion of EQT’s equity.

Husky Energy (HSE.CN), a Canadian oil-sands producer, has announced that it will be limiting production in 1Q 2018 due to weakness in the price of Canadian crude.

Wells Fargo’s (WFC) retirement plan practices are being investigated the Labor Department. Concerns have arisen that the company has been funneling clients away from cheaper corporate 401(k) retirement plans and advising them to invest these savings into more expensive retirement plans at the bank.

Cryptocurrency Update

Cryptocurrencies are broadly advancing today with 23 of the largest 25 cryptocurrencies by market cap higher. Of the 5 major cryptos, only Bitcoin (-0.81%) is lower, while Ethereum (+2.03%), Ripple (+1.18%), Bitcoin Cash (+3.55%), and Litecoin (+1.42%) all rose. Other notable gainers included: EOS (+2.74%), Stellar (+11.07%), OmiseGO (+20.38%), and Siacoin (+29.60%). The governement in Malta has approved three crypto currency focused bills. One of these bills, the Virtual Financial Seets Bill, will allow reglators to have greater oversight of cryptocurrencies and ICOs. OmiseGo has hit a two-month high after being listed on the Bithumb exchange today.