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Midday Market Update

Jun 25, 2018

US Market Snapshot

US stocks are falling today, following the trend from Asia and Europe as a global trade war looms. Major US indices are lower today, with the S&P 500 -1.57%, Russell 2000 -2.10%, and the Nasdaq Composite -2.38%. The S&P 500 is being led lower today by Technology (-2.67%), Consumer Discretionary (-2.28%), and Energy (-2.24%), while Utilities (+0.93%), Consumer Staples (+0.06%), and Real Estate ( -0.48%) are the biggest outperforming sectors. The VIX is up 492 basis points or 35.66% to 18.70. The US 10-year yield is down 2 basis points to 2.877%. The most actively traded options today are SPY June 29 and July 20 ATM Puts, SPY September 21 OTM Puts, and BAC January 18 OTM Calls, and BP August 17 OTM Calls. The USD$ index is down 0.14% today, with strength in AUD$ and CAD$, offset by weakness in EUR€, and GBP£.

*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.

Carnival Cruise Line (CCL) shares are down 8.04% to $58.42 in today’s trading to after the company lowered its EPS forecast for FY2018 to $4.15-$4.25, from $4.20-$4.40 prior.

Cirrus Logic Inc (CRUS) is up 4.02% to $39.11 after Susquehanna announced that the company has won a contract with Apple Inc (AAPL) for active noise cancelling AirPods wireless headphones.

Estee Lauder Cos (EL) is down 4.14% to $146.60 today, after the company was downgraded to equal weight from overweight at Morgan Stanley (MS).

Harley-Davidson Inc (HOG) announced that it will be shifting domestic production internationally, in an attempt to reduce the negative impact of the EU’s reciprocal tariffs against numerous US imports. According to Bloomberg estimates, the tariffs imposed by the EU may cost Harley-Davidson as much as $100 million annually, with each motorcycle shipped to Europe facing a $2200 increase in expenses