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Midday Market Update

Jul 06, 2018

US Market Snapshot

US stocks are higher today, with the S&P 500 +0.90%, the Russell 2000 +0.83%, and the Nasdaq Composite +1.29%. The S&P 500 is being led higher today by Health Care (+1.40%), Telecom (+1.11%), and Technology (+1.07%), while Real Estate (+0.41%), Industrials (+0.57%), and Consumer Staples (+0.61%) are the biggest lagging sectors. The VIX is down 139 basis points, or -9.29%, to 13.58. The yield on the US 10-year, down 1.1 basis points to 2.828%. The most active options today are BAC July 6 and July 20 OTM Calls and EEM July 20 OTM Calls and September 21 OTM Puts. The USD$ is weaker against all of the G10 currencies.

*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.

Baird has lowered its 1Q2019 earnings estimates for Alibaba (BABA), citing a projected slowdown in online retail sales growth. Shares of Alibaba are trading 2.39% higher to $191.34

Apple Inc (AAPL) shares are trading 1.15% higher today, after Loop Capital raised its price target for Apple from $195 to $210, citing Apple’s strong positioning heading into 2H2018. Apple’s $100 billion share repurchase which began in June 2018 may potentially add up to $1.60 to the company’s EPS

The Murdoch family, which controls 17% of Twenty-First Century Fox (FOXA) may be more inclined to push for the acceptance of the acquisition bid from Walt Disney Co (DIS) as opposed to Comcast Corp (CMCSA). Walt-Disney’s stock-based over would allow the Murdoch’s to avoid $2.6 billion in federal taxes, while Comcast’s cash offer would require an immediate income tax. Walt-Disney’s $71 billion bid was higher as well, resulting in a $3.5 billion advantage for Walt Disney from the Murdoch perspective