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End of Day Market Update

May 03, 2018

US Markets End of Day Snapshot

US markets fell today, but ended significantly higher than the lows of the day, with the S&P 500 (-0.23%), Russell 2000 (-0.54%), and Nasdaq Composite (-0.18%). 

The S&P 500 was led lower today by Health Care (-0.90%), Financials (-0.85%), and Consumer Discretionary (-0.45%), while Materials (+0.46%), Technology (+0.23%), and Industrials (+0.22%) were the biggest outperforming sectors.

S&P 500 Sector ETFs - End of Day

Russell 1000 Factor ETFs - End of Day

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

Activision Blizzard Inc (ATVI) announced 1Q2018EPS of $0.38, higher than the consensus of $0.35.

Assurant (AIZ) reported 1Q2018 EPS of $2.00, well above forecasts of $1.89.

CBS Corporation (CBS) released 1Q2018 EPS that was significantly above projections ($1.34 vs $1.17 expected).

DaVita Inc (DVA) announced 1Q2018 EPS that beat the consensus ($1.05 vs $0.91 estimated).

After reporting stronger than expected earnings for 1Q2018, Ferrari NV (RACE) announced that the company’s production capabilities are at full capacity for the remainder of 2018 and into 2019.

Motorola Solutions (MSI) released 1Q2018 EPS that was significantly higher than projected ($1.10 vs $0.87 consensus).

Skyworks’ (SWKS) EPS for 1Q2018 came in below estimates ($1.59 vs $1.64 forecasted).

Weight Watchers (WTW) posted 1Q2018 EPS that significantly outperformed expectations ($0.56 vs $0.07 projected). Weight Watchers also raised its FY2018 EPS outlook to a range of $3.00-$3.20, above an estimate of $2.57

Wingstop Inc (WING) reported 1Q2018 EPS that was firmly higher than expected ($0.25 vs $0.19 forecasted).

Cryptocurrency Update

Cryptocurrency Market Data

Major cryptocurrencies rallied today, with Bitcoin (+4.59%), Ethereum (+10.32%), Ripple (+1.46%), Bitcoin Cash (+2.65%), and Litecoin (+5.90%). Iota (+12.25%) and Ethereum Classic (+5.41%) were other notable gainers. EOS (-6.60%) and Tron (-3.15%) were notable decliners. (See table below)

Cryptocurrency Market News

Reddit co-founder, Alexis Ohanian, said that he is extremely bullish on Ethereum, and believes the cryptocurrency will trade at $1,500 by the end of 2018. Ohanian also believes that Bitcoin will trade over $20,000 by the end of the year. Reddit announced they will be reinstating bitcoin as a form of payment and will explore adding other cryptocurrencies. Reddit had stopped accepting bitcoin in March.

A revised bill was passed in the state of Arizona that will require the state to study cryptocurrencies as a payment option. The original bill proposed that the state would accept cryptocurrency as payment for taxes. The revision of the bill was considered a setback for cryptocurrencies.