blog

Latest from the Quantamize Blog

Midday Market Update

Jun 08, 2018

US Market Snapshot                                                                                                                                                                                 Start your free trial today

US stocks are moderately higher today, with the S&P 500 +0.17%, Russell 2000 +0.16%, and the Nasdaq Composite +0.03%. News is relatively light today, as the market is focused on this weekend’s G7 Summit. The S&P 500 is being led higher today by Consumer Staples (+1.05%), Real Estate (+0.34%), and Health Care (+0.30%), while Energy (-0.60%), Technology (-0.31%), and Telecom (-0.09%) are the biggest lagging sectors. The VIX is little changed today, up 1 basis points, or +0.08%, to 12.14. The most actively traded options in US markets today are SPY June 8 OTM Puts, Ford (F) June 21 2019 ATM Puts, and Apple (AAPL) June 8 ITM Calls. US 10-year yields are little changed today, trading at 2.930%. The USD$ is stronger against most of the G10 currencies, falling only against JPY ¥ and CAD$.

How Did European Stocks Close?

European stocks ended lower again today, following weaker than expected French and German April industrial production data. All the major indices declined, with the Euro Stoxx 600 -0.25%, FTSE 100 -0.31%, DAX -0.44%, and the CAC40 -0.03%. Periphery markets also declined, led by Italy’s MIB -1.89%, with Spain’s IBEX 35 -0.84%, Portugal’s PSI 20 -0.16%, and Greece’s ASE -0.71%. Italy’s 10-year government bonds are following today, as investors continue to worry about how Italy’s new populist government will work with the EU, Italy’s 10-year sovereign yield rose 11 basis points today to 3.106%.

*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.

Domino’s Pizza (DPZ) stock is down 0.61% in today’s trading after the company was downgraded by Maxim from a buy to a hold rating. Maxim issued a price target of $270 for Domino’s Pizza. Domino’s Pizza is currently trading at $270.39.

Novo Nordisk AS (CPSE:NOVOB), the world’s insulin producer, has announced that it may cut up to 3,000 jobs ins a cost cutting effort. Shares of Novo Nordisk traded down 1.69% to DKK285.55 today.

Verizon Communications (VZ) has named Han Vestberg as the company’s new CEO.

Volkswagen Co (XTRA:VOW3) is expecting a production delay to impact between 200,000 and 250,000 vehicles in 2H2018, but the company has maintained its FY2018 production targets despite the delay.