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Midday Market Update

Jun 04, 2018

US Market Snapshot

US Stocks are moving higher today, with the S&P 500 +0.42%, Russell 2000 +0.02%, and the Nasdaq Composite +0.59%. The S&P 500 is being led higher today by Consumer Discretionary (+0.85%), Technology (+0.82%), and Consumer Staples (+0.81%), while Utilities (-0.69%), Energy (-0.41%), and Industrials (-0.02%) are the biggest lagging sectors. The most actively traded options in US markets today are June 15 OTM 280 calls on SPDR S&P 500 ETF (SPY). The US 10-year government bond yields are higher today, up to 2.921%. The US dollar is trading mixed against its G10 partners, appreciating against GBP£, JPY¥ and CHF, and falling against EUR€, CAD$, and AUD$.

European Stocks at the Close

European stocks ended moderately higher today, continuing Friday’s trend. The Euro Stoxx 600 +0.31%, FTSE 100 +0.51%, DAX +0.37%, and CAC40 +0.14% all rose. Periphery markets in Europe ended mixed today, with Italy's MIB -0.45%, Spain's IBEX 35 +1.22%, Portugal's PSI 20 +1.21%, and Greece's ASE +0.23%. Italy’s populist government is expected to have a confidence vote in Parliament tomorrow. 

Global Market Indicies

*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.

CSS Industries (CSS) shares are up 12.98% to $18.28 per share after the company was upgraded to a buy rating at DA Davidson. DA Davidson set their price target at $19.

Daqo New Energy’s (DQ) stock is down 20.43% to $41.95 per share after the company’s price target was downgraded from $75 to $48 at Roth Capital Partners.

Microsoft (MSFT) has agreed to acquire online hosting service GitHub Inc., for $7.5 billion. Microsoft shares are up 0.46% to $101.25 following this development.  

Nektar Therapeutics (NKTR) stock is down 38.74% (biggest decline in 14 years) to $55.35 per share, after concerns arose about disappointing results from the company’s mid-stage trial cancer drug.

The UK government will be selling a $3.5 billion stake in Royal Bank of Scotland (LSE:RBS), which it has owned since a bailout nearly a decade ago during the global financial crisis.

Walmart (WMT) reportedly expects a non-cash net loss of $4.5 billion in 2Q2018 from the sale of a majority of its stake in its Brazilian unit, Advent International.