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Midday Market Update

May 31, 2018

US Market Snapshot

US stocks mostly lower today, following the trend set by Europe, with the S&P 500 -0.36%, Russell 2000 -0.67%, and the Nasdaq +0.09%. The S&P 500 is being led lower today by Consumer Staples (-1.72%), Industrials (-1.26%), and Health Care (-0.74%), while Utilities (+0.69%), Telecom (+0.39%), and Technology (+0.32%) 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.

According to a Fortune report, President Trump’s proposed 25% tariff on auto imports is an attempt to ban Daimler AG (XTRA:DAI) and other luxury German autos from the US market.

Deutsche Bank (DB:DBK) stock is trading 6.67% lower today after the US Federal Reserve reportedly added it to the list of problem banks.

DSW Inc (DSW) has been downgraded to neutral at Susquehanna from positive to a neutral rating. The price target for DSW has been set at $26 per share (currently trading at $24.30). DSW shares are down 1.30% today.

Public Service Enterprise Group (PEG) will reportedly propose $2.9 billion in clean-energy investments, including $2.5 billion for energy efficiency.

SoftBank (TSE:9984) is investing $2.25 billion into General Motors’ (GM) self-driving vehicles unit, called GM Cruise Holdings LLC. The investment will be completed once GM begins to deploy these vehicles using an app-based ride sharing service.

Cryptocurrency Market Update

How Did European Stocks Close?

European stocks closed mostly lower today, following inflation numbers that were higher than expected. with the Euro Stoxx 600 -0.61%, DAX -1.40%, and CAC40 -0.53%. UK stocks finished flat with the FTSE 100 closing +0.02%. Periphery markets closed mixed today, with Italy's MIB -0.06%, Spain's IBEX -1.05%, Portugal's PSI +0.46%, and Greece's ASE +0.88%.