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Midday Market Update

Jun 18, 2018

US Market Snapshot

US stocks are mostly lower today, as concerns over escalating Sino-American trade tensions continue to negatively impact investor sentiment. The S&P 500 is down 0.32%, the Nasdaq Composite is down 0.20%, while the Russell 2000 is up 0.07%. Telecommunications services (-2.02%), consumer staples (-1.67%), and healthcare stocks (-1.13%) are the worst performers in the S&P 500, while energy (+1.48%), utilities (+0.10%), and information technology (+0.09%) are the biggest outperformers. The VIX is up 77 basis points to 12.75. The yield on the US-10 year is up 0.6 basis points to 2.926%. The most actively traded options in the US markets today are EEM July 20 OTM Puts, VIX June 20 ATM Puts, and BAC June 22 ATM Calls. The USD$ index is advancing today, with weakness in the CAD$, AUD$, and GBP£ pushing the dollar higher.

How Did European Stocks Close?

European stocks broadly declined today with the Euro Stoxx 600 -0.83%, the FTSE 100 -0.03%, the DAX -1.36%, and the CAC 40 -0.93%, with US-Chinese trade concerns being a driving factor. Periphery markets were mixed with Spain’s IBEX -0.83%, the MIB -0.41%, while the ASE rose 0.98%, and the PSI 20 edged 0.01% higher. Yield on the Italian 10-year fell 5.2 basis points to 2.541%, while the yield on the German Bund slid 0.6 basis points to 0.394%.

*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.

Baytex Energy Corp (BTE.CN) shares are down 14.12% to CN$4.38, as investor are bearish about the company’s $1.2 billion acquisition of rival oil producer Raging River Exploration. Investors are concerned that the deal will weaken the company’s EPS outlook

BOK Financial Corp (BOKF) has agreed to acquire CoBiz Financial (COBZ) for nearly $1 billion

CYBG Plc (CYBG.LN) has announced that the company has acquire Virgin Money Holdings (VM.LN) for USD$2.3 billion. Shares of Virgin Money Holdings finished trading 2.17% lower

Intel Corp (INTC) shares are down 4.00% to $52.94, following a downgrade of the company at Northland Securities to a sell rating

LaSalle Hotel Properties (LHO) has agreed to sell to Blackstone Group Plc (BX) for $4.8 billion. Shares of LaSalle Hotel Properties are down 1.22% today

Rent-A-Center Inc (RCII) is up 22.03% to $14.68 following the announcement that the company will be acquired by Vintage Capital for $15 per share, with a total valuation of $1.37 billion