Midday Market Update
Jul 23, 2018
US stocks are higher today, with the S&P 500 +0.17%, the Nasdaq Composite +0.09%, and the Russell 2000 +0.25%. Financials (+1.24%), health care (+0.27%), and information technology stocks (+0.24%) are the biggest outperformers in the S&P 500, while consumer staples (-0.80%), utilities (-0.78%), and real estate stocks (-0.47%) led the index lower. Yield on the US 10-year is up 6.5 basis points to 2.958%. The VIX is down 3 basis points, or 0.23%, to 12.83. The DXY dollar index is up 10.1 basis points, led by weakness in the EUR€ (-0.16%), the GBP£ (-0.20%), the AUD$ (-0.45%), and the CAD$ (-0.13%). The most actively traded options today are GE September 21 Puts, XLF August 17 Calls, BAC January 18 Calls, and EEM August 17 Calls.
S&P 500 Sector ETFs - Intraday
Russell 1000 Factor ETFs - Intraday
Stocks Trending in the News
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- Apollo Global Management LLC (APO) reportedly plans to acquire LifePoint Health Inc for $65 per share, or a total value of $5.6 billion including debt and minority interest. A $65 per share offer represents a 34% premium above where LifePoint Health (LPNT) shares closed on Friday
- Ferrari NV (RACE) shares are trading 4.29% lower to $134, following the unexpected retirement of Sergio Marchionne as CEO of the company. It was expected that Marchionne would be leaving Fiat Chrysler Automobiles (FCAU) next year, but it was reportedly anticipated that he would continue to head Ferrari NV until at least 2021
- Halliburton (HAL) forecasts that 2H2018 profits will likely decline, as a result of a slowdown in the Permian Basin and other parts of the US. Shares of Halliburton fell 7.72% in today’s trading to $41.71
- Philip Morris International (PM) has been downgraded to hold from a buy rating at Société Générale. Shares of Philip Morris are down 1.62% in today’s trading
Cryptocurrency Market Update