End of Day Market Update

May 31, 2018

US Markets End of Day Snapshot

US stocks declined today as trade tensions between the US and its major allies rose, following the US government’s decision to end the reprieve of steel tariffs. The S&P 500 (-0.69%), Russell 2000 (-0.87%), and the Nasdaq Composite (-0.27%). The S&P 500 was led lower today by Consumer Staples (-1.60%), Industrials (-1.48%), and Health Care (-1.09%), while Utilities (+0.16%), Telecom (+0.09%), and Technology ( -0.04%) were the biggest outperforming sectors. The VIX closed at 15.43, up 49 basis points or 3.28%. The most actively traded options in US markets today were July 20 OTM calls and OTM puts on MSCI Emerging Markets iShares (EEM). The yield on the US 10-year government bond finished flat at 2.859%. The US dollar index was flat against its major G10 trading partners. 

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S&P 500 Sector ETFs - End of Day

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Russell 1000 Factor ETFs - End of Day

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Stocks Trending in the News

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Bank of Nova Scotia (TSX:BNS) has agreed to acquire MD Financial Management for USD$2 billion.

Caleres Inc (CAL) missed its earnings expectations ($0.43 vs $0.47 anticipated), and shares are down 6.09% in post-market trading today.

Lululemon’s (LULU) stock is up 4.46% post-market after the company announced 1Q2018 EPS that was firmly above forecasts ($0.55 vs $0.46 consensus).

Ulta Beauty (ULTA) announced 1Q2018 EPS that was significantly above estimates ($2.70 vs $2.48 expected). Ulta’s stock is up 3.28% after this earnings release.

VMWare (VMW) shares are up 1.69% after the close, following the company’s release of 1QFY2019 EPS that beat the consensus ($1.26 vs $1.14 anticipated).

Workday (WDAY) reported 1QFY2019 EPS that was higher than expected ($0.33 vs $0.26 projected). Workday’s shares are down 3.64% post-market.