Midday Market Update

May 29, 2018

US Market Snapshot

US stocks are declining today, with the S&P 500 (-1.08%), Russell 2000 (-0.42%), and Nasdaq Composite (-0.50%). The S&P 500 is being led lower today by Financials (-3.04%), Industrials (-1.51%), and Materials (-1.36%), while Real Estate (+0.29%), Utilities (0.00%), and Consumer Staples (-0.25%) are the biggest outperforming sectors.

*Data in Price Return

S&P 500 Sector ETFs - Intraday

*Data in Price Return

Russell 1000 Factor ETFs - Intraday 

*Data in Price Return

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

Affiliated Managers Group Inc (AMG) CEO Sean Healey will be stepping down from his position due to medical issues. He will be replaced by company president Nathaniel Dalton.

Bayer AG (DB:BAYN) has won antitrust approval from the US government for its $66 billion acquisition of Monsanto Co (MON).

Booz Allen Hamilton (BAH) reported 4Q2017 EPS that was above expectations ($0.52 vs $0.46). Shares of Booz Allen are trading 3.02% higher today.

Facebook Inc (FB) is facing a class action lawsuit claiming that Facebook’s ad placement algorithms discriminate against older job-seekers, with ads disproportionately guiding employers to younger employees.

KKR & Co (KKR) will be acquiring information technology management firm BMC Software Inc. According to the New York Post, BMC Software’s value is around $10 billion.

Kinder Morgan Canada Ltd (TSX:KML) has agreed to sell its Tran Mountain oil pipeline to the Canadian government for $3.5 billion.

Roku Inc (ROKU) has been upgraded by Morgan Stanley from underweight to an equal-weight rating. Roku’s shares are down 0.75% today. 

European Stocks at the Close 

Major European stock markets ended lower today, with the Euro Stoxx 600 (-1.37%), FTSE 100 (-1.26%), DAX (-1.52%), and the CAC40 (-1.29%), following the political uncertainty in Italy. The periphery European stock markets all fell significantly, with Italy's FTSE MIB (-2.7%), Portugal's PSI 20 (-2.6%), Spain's IBEX (-2.5%), and Greece's ASE (-2.3%).