Midday Market Update
Jul 09, 2018
US stocks are higher today, with the S&P 500 +0.77%, the Russell 2000 +0.44%, and the Nasdaq Composite +.49%. The S&P 500 is being led higher today by Financials (+1.96%), Industrials (+1.77%), and Energy (+1.09%), while Utilities (-1.37%), Telecomm (-1.00%), and Real Estate (-.70%) are the biggest lagging sectors. The VIX is down 60 basis points, or -4.41%, to 12.78. The yield on the US 10-year, up 2.9 basis points to 2.851%. The most active options today are IWM Aug 17 OTM Puts, VIX Aug 22 OTM Calls and SPY Aug 10 OTM Puts. The USD$ is weaker against all the G10 currencies.
S&P 500 Sector ETFs - Intraday
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Biogen (BIIB) has been downgraded to hold from a buy rating at DZ Bank, with a price target set at $365. Shares of Biogen are down 2.04% in today’s trading
Nissan Motor Co (TSE:7201) shares traded 4.56% lower today after a company investigation revealed that data falsification had occurred involving 19 of the company’s models across 5 plants
PetMed Express Inc (PETS) shares are down 9.91% today, after the company was downgraded to sell from a hold rating at Craig-Hallum, due to increased competition in the pet medicine space
Twitter (TWTR) traded 8.95% lower today, amidst concerns that the company’s effort to crack down on fake user accounts may hurt Twitter’s user growth, which is a key metric for social media company’s