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Midday Market Update

Jun 01, 2018

US Market Snapshot

US stocks are rallying today, following the trend set by Europe and the strong jobs report. The S&P 500 +1.05%, Russell 2000 +0.89%, and Nasdaq Composite +1.46% are all considerably higher.  The S&P 500 is being led higher today by Technology (+1.54%), Materials (+1.41%), and Financials (+1.31%), while Utilities (-1.75%), Consumer Staples (-0.04%), and Telecom (+0.20%) are the biggest lagging sectors.

European Stocks at the Close

European stocks ended higher today after a turbulent week. The Euro Stoxx 600 +1.01%, FTSE 100 +0.31%, DAX +0.95%, and CAC40 +1.24%, all rose. Periphery markets in Europe ended higher as well, with Italy's MIB +1.49%, Spain's IBEX 35 +1.76%, Portugal's PSI 20 +0.89%, and Greece's ASE +2.77%. 

*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

Eli Lilly (LLY) has received FDA approval for its Olumiant branded drug, used to treat Rheumatoid Arthritis.

Lowe’s Cos Inc (LOW) announced that it is increasing its quarterly dividend from $0.41 to $0.48. Lowe’s stock is advancing 1.18% today.

Micron Technology (MU) announced that officials from China’s State Administration for Market Regulation visited the company’s China offices yesterday, seeking certain financial information. Shares of Micron are up 1.46% today.

Pfizer (PFE) has ended a suit against Aurobindo, in which it claimed that the patent it held for heart-rhythm drug Tikosyn would have been infringed upon by Aurobindo’s generic version of the drug.

Range Resources (RRC) is announcing a quarterly dividend of $0.02 per share. Range Resource’s stock has gained 3.19% in today’s trading.