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Midday Market Update

Jun 15, 2018

US Market Snapshot

US stocks are falling today as a Sino-America trade war looms, with the S&P 500 -0.38%, Russell 2000 -0.43%, and Nasdaq Composite -0.30%. The S&P 500 is being led lower today by Energy (-2.58%), Materials (-1.69%), and Industrials (-1.28%), while Telecom (-0.18%), Consumer Staples ( -0.25%), and Consumer Discretionary ( -0.45%) are the biggest outperforming sectors. The VIX is up 21 basis points or 1.73% to 12.33. The US 10-year yield is down 2.6 basis points to 2.919%. The most actively traded options in US markets today are F June 15 and December 21 ATM Calls, SPY June 15 OTM and ATM Puts, and EFA September 21 ATM Calls. The USD$ index is falling slightly today, with strength in CAD$ and AUD$ offset by weakness in GBP£ and EUR€.

How Did European Stocks Close?

European stocks fell today following yesterday’s rally after the ECB left rates unchanged. The major indices all ended lower, with the Euro Stoxx 600 -0.84%, the FTSE 100 -1.51%, the DAX -0.59%, and the CAC40 -0.27%. Periphery markets fell as well, with Italy’s MIB -1.32%, Spain’s IBEX -1.07%, Portugal’s PSI 20 -1.91%, and Greece’s ASE -1.96%. Germany’s 10-year bund yield fell 2.5 basis points to 0.404%. Italy’s 10-year yield fell 13.7 basis points to 2.601%.

*Data in Price Return, Source: Stockdio

S&P 500 Sector ETFs - Intraday

*Data in Price Return, Source: Stockdio

Russell 1000 Factor ETFs - Intraday 

*Data in Price Return, Source: Stockdio

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

Advanced Auto Parts (AAP) shares are up 1.48% to $135.48 per share after JP Morgan raised its price target for the company to $158 from $140.

AT&T Inc’s (T) debt rating has been cut to Baa2 at Moody’s, following the company’s highly leveraged merger deal approval with Time Warner (TWX).

Cognizant Technologies (CTSH) shares are up 1.76% today after the company announced that it will be repurchasing up to $600 million worth of shares.

Kellogg’s Company (K) is recalling its Honey Smacks branded cereal, after a Salmonella outbreak caused 73 people across 31 states to become ill. Kellogg’s shares are down 0.29% in today’s trading.