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Quantamize Midday Market Update

Apr 27, 2018

US Market Snapshot

US Markets are mostly flat today, with a slight negative bias. The S&P 500 is up 0.24%, Russell 2000 is down 0.25%, and the Nasdaq is up 0.08%.

US Markets are being led lower today by Real Estate (+1.24%), Utilities (+1.13%), and Consumer Staples (+0.61%), while Energy (-0.78%), Technology (-0.47%), and Industrials (-0.41%) are the biggest laggards.

S&P 500 Sector ETFs- Intraday

ETF Ticker Sector  1 Day % Move
XLRE Real Estate 1.24%
XLU Utilities 1.13%
XLP Consumer Staples 0.61%
XLY Consumer Discretionary 0.54%
XLV Health Care 0.13%
XLF Financials -0.09%
XTL Telecom -0.23%
XLB Materials -0.31%
XLI Industrials -0.41%
XLK Technology -0.47%
XLE Energy -0.78%

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

Allergan (AGN) has released positive data today from the clinical study of its Phase 3 migraine drug Ubrogepant.

Cabot Oil & Gas (COG) has repurchased 10 million shares, at a total value of $245 million, citing a lack of alternative quality investment opportunities in gas and oil production.

Chegg (CHGG) has been downgraded to market perform at Raymond James, citing less favorable market conditions.

DocuSign (DOCU) has started to trade on the Nasdaq today. The company’s IPO yesterday raised $629 million. shares opened at $38 today.

Husky Energy (HSE.CN) has been downgraded to a hold from a buy as slumping revenue combined with a recent fire at its Super Refinery in Wisconsin in which there were numerous injuries pushed the outlook for the stock lower.

Walmart (WMT) has entered into a partnership with grocery delivery company DoorDash.

Wynn Resorts (WYNN) CEO Matt Maddox is scheduled to meet with Massachusetts gambling authorities today in an effort to convince them that the company has fundamentally changed its culture and management structure following sexual assault allegations against former CEO Steve Wynn.

Europe at the Close

Europe Market Indicies 1D % Move
FTSE 100 Index 1.09%
Germany DAX Index  0.64%
Paris CAC 40 Index 0.54%
STOXX Europe 600 Index  0.23%
Madrid Ibex 35 Index 0.23%

European markets were mostly higher, despite poor GDP numbers out of UK, France, and Spain.

Cryptocurrency Update

Cryptocurrency Markets

Major cryptocurrencies are held on or extended their rally from this morning except for OmiseGO and Monero which are -0.55% and -2.31%. Bitcoin is up 0.43% as of 11:41AM EST at USD$9,240.00, from yesterday’s UTC close. Bitcoin has rallied significantly in April and is now down 33% YTD after having been down over 65% in Q1. Notable top performers from the thirty cryptocurrencies which our machine learning signals follow include: EOS +12.36%, Tron +12.63% and Siacoin +10.33%, from yesterday’s UTC close using volume-weighted exchange pricing. Notably, EOS, DigixDAO, Tron, and VeChain are up over 60% year to date.

Cryptocurrency Markets

News is light in the crypto universe as of midday today. Chile’s anti-monopoly court has ordered two major banks in the country to re-open accounts for a cryptocurrency exchanged after it filed a lawsuit against 10 banks accusing them of anti-competitive behavior. The exchange is Buda and they had to close exchange accounts before suing the ten banks. Cryptocurrency trading for institutional investors is now possible because of German securities bank, VPE WertpapierhandelsBank AG and Berlin FinTech company solarisBank.