End of Day Market Update
May 04, 2018
US Markets End of Day Snapshot
US stocks finished higher today, extending gains from our earlier update. S&P 500 (+1.28%), Russell 2000 (+1.23%), and Nasdaq Composite (+1.71%).
The S&P 500 was led higher today by Technology (+1.90%), Consumer Staples (+1.45%), and Consumer Discretionary (+1.31%), while Utilities (+0.45%), Energy (+0.49%), and Telecom (+0.76%) were the biggest lagging sectors.
S&P 500 Sector ETFs - End of Day
Russell 1000 Factor ETFs - End of Day
Stocks Trending in the News
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Air France (AF.FR) CEO Jean-Marc Janaillac announced that he will be resigning after employees rejected a wage increase that was aimed at ending strikes which are negatively impacting operations.
A merger deal between Rockwell Collins (COL) and United Technologies (UTX) is on track to be approved by the US Department of Justice.
ManpowerGroup (MAN) has increased its dividends by 8.6% to $1.01 per share, up from most recent dividends of $0.93 per share.
Wells Fargo (WFC) has agreed to pay $480 million to settle a class action lawsuit filed in California, which alleged that Wells Fargo engaged in improper sales practices.
Turmoil within Xerox’s (XRX) executive suite continued, as a plan to remove CEO Jeff Jacobson and six other board members collapsed after a settlement to oust them expired.
Major cryptocurrencies were mixed today, with Bitcoin (-1.28%), EOS (-1.35%), and Cardano (-1.49%) lower, while Ethereum (+1.13%), Ripple (+1.46%), and Bitcoin Cash (+0.33%) rose. Smaller cryptocurrencies were lower today, with Iota (-6.91%), Dash (-3.99%), and NEO (-3.61%) the notable decliners.
News was relatively light in the crypto world. Ripple is being sued by an investor who lost money trading XRP. Ripple’s director of regulatory relations, Ryan Zagone, said that the company Ripple and the cryptocurrency XRP are not directly related. Chinese angel investor, Cai Wensheng, purchased 10,000 bitcoins during Bitcoin’s decline in 1Q2018. His investment is worth roughly $96 Million.