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Global Stocks Are Advancing Ahead of Fed Chairman Powell’s Comments At Jackson Hole Economic Summit

Aug 24, 2018

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US Stocks

  • Global stocks are set to end the week positive ahead of Fed Chairman Jerome Powell’s comments at the Jackson Hole Economic Summit today 
  • US stocks index futures are pointing to a positive open in NY with the Dow Jones minis +0.21%, S&P500 minis +0.22% and Nasdaq 100 minis +0.29% 
  • US Durables Goods orders for July will be releases at 8:30am this morning.  Ex transportation, durable goods orders are expected to have grown +0.5% 
  • News headlines suggests that US-China trade negotiations in Washington yesterday ended with no real progress 

Stocks Trending in the News

Click name for Q-Factor score and financial data.

  • AIA Group (SEHK: 1299) reported C1H2018 operating profit of USD$2.65bn and net income of USD$1.66bn.  Value of new business in C1H2018 came in at +22%, vs Consensus +23%.  AIA Group finished Hong Kong trading down 2.65%.  The stock is rated ‘Neutral’ in our China All-Cap Global Top Picks. 
  • CNOOC Ltd (SEHK: 883) received prositve reviews form investment bank analysts after reporting C1H2018 net income of CNY25.48bn vs. Consensus CNy27.20bn.  CNOOC finished its Hong Kong trade session +3.89%.  The stock is rated ‘Attractive’ in our China All-Cap Global Top Picks. 
  • Bank of Communications (SEHK:3328), China’s fifth-largest lender by assets, reported net income of USD$3bn in F2Q2019 which represents a 5.2% increase on a Y/Y basis. Bank Of Communications’ stock rose 1.25% today to HKD$5.67. Bank of Communications is unrated in our Global Top Picks.  
  • Unicredit (BIT:UCG), Italy’s largest bank, is trading 1.11% higher to €13.27 following reports that the company had hired an advisor in preparation for a possible merger with French banking giant Societe Generale SA (ENXTPA:GLE) 
  • Hibbet Sports (HIBB) released a surprise F2Q2019 loss per share of $0.06, compared to estimates of $0.07 in EPS. The company also missed its revenue benchmark for the quarter ($2.11.12mm vs $205.85mm consensus). Hibbet Sports also cut its FY2019 EPS guidance to a range of $1.57-$1.75, down from a range of $1.65-$1.95. Hibbet Sports is down 15.82% to $24.75 before the open. Hibbet Sports is rated as ‘Neutral’ in both of our US SMID-Cap and US Consumer  Discreitonary Global Top Picks. 
  • Autodesk (ADSK) reported F2Q2019 EPS of $0.19, compared to expectations of $0.16 in earnings per share for the quarter. The company’s net revenue for F2Q2019 was also stronger than expected (USD$612mm vs USD$600.4mm anticipated). Autodesk shares are up 7.84% to $147.00 pre-market. Autodesk is rated as a ‘Top-Short’ in our US Large-Cap model and as ‘Neutral’ in our US Information Technology Global Top Picks. 
  • Splunk Inc (SPLK) posted F2Q2019 EPS that was modestly higher than the consensus ($0.08 vs $0.05 projected) and released F3Q2019 revenue guidance that was above forecasts ($430mm vs $427.6mm expected). Splunk stock is up 6.55% before the open to $114.79. Splunk is rated as ‘Neutral’ in both of our US Large-Cap and US Information Technology Global Top Picks. 
  • Shire PLC (LSE:SHP) has announced that it had received FDA approval for its TAKHZYRO branded drug, designed to prevent attacks of hereditary angioedema (HAE), a rare life-threatening disease. Shares of Shire are trading 2.17% higher to £45.19. Shire PLC is rated as a ‘Top-Buy’ in our European Large-Cap Global Top Picks. 
  • Netflix (NFLX) has been upgraded to a buy from a hold rating at SuntTrust Robinson Humphry. Netflix shares are up 1.79% to $345.25 before today’s trading. Netflix is rated as ‘Neutral’ in both of our US Large-Cap and US Consumer Discretionary Global Top Picks. 

European Stocks

  • European stocks are poised to finish the week positive with commodities stocks leading the move upwards 

Asian Stocks

  • Asian stocks finished mostly in the green after reports that the US-China trade discussions in Washington ended in a stalemate 
  • A negative investor response to AIA Group (SEHK: 1299) weighed down the Hang Seng 

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Stock Sentiment

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Top Stocks by 7-day News Volume
Name 7 Day News
Volume
7 Day Average
News Buzz
1M EPS Net
Revisions
3M EPS Net
Revisions
1M EPS
% Chg
3M EPS
% Chg
Alphabet Inc 1150 9.14 -24 -24 1.30% 3.95%
Microsoft Corp 507 8.57 26 24 0.13% 6.22%
Netflix Inc 475 7.57 1 -23 -1.73% 2.11%
Bank of America Corp 423 3.43 1 -4 0.32% 0.39%
Wells Fargo & Co 377 7.29 -4 -9 -1.73% -0.79%

Note: Please see our General FAQs to learn how we define and measure News Volume

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Top Stocks by 7-Day Average News Buzz
Name 7 Day News
Volume
7 Day Average
News Buzz
1M EPS Net
Revisions
3M EPS Net
Revisions
1M EPS
% Chg
3M EPS
% Chg
International Business Machines Corp 179 9.29 3 0 -0.77% 1.27%
Starbucks Corp 116 9.29 -9 -23 1.75% -1.69%
Alphabet Inc 1150 9.14 -24 -24 1.30% 3.95%
Microsoft Corp 507 8.57 26 24 0.13% 6.22%
Verizon Communications Inc 72 8.57 -16 -16 0.48% 0.36%

Note: Please see our General FAQs to learn how we define and measure News Buzz

Implied Volatility Data For Liquid Macro Index ETFs

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ETF 30D IV 30D IV
Percentile
90D IV 90D IV
Percentile
90D/30D IV 90D/30D IV
Percentile
30D IV-
20D HV
30D IV-20D HV
Percentile
90D IV-
60D HV
90D IV-60D HV
Percentile
SPY 8.7 39.68% 10.64 42.46% 1.22 61.71% 1.42 63.10% 2.27 56.75%
QQQ 13.34 40.08% 15.86 61.90% 1.19 86.71% 0.98 54.76% 2.95 71.23%
IWM 10.49 4.96% 12.92 12.30% 1.23 93.65% -1.57 16.27% 1.48 36.11%
FEZ 13.11 62.30% 14.53 71.03% 1.11 54.37% -3.18 13.89% -0.41 33.93%
EEM 17.31 68.65% 18.46 73.41% 1.07 53.57% -0.68 32.34% 0.98 44.44%

Note: Please see our Options FAQs to learn more about Implied Volatility and other advanced options volatility measures

S&P 500 Sector Performance

*Data in Price Return as of Previous Day's EOD, Source: StockDio

Russell 1000 Factor Performance

*Data in Price Return as of Previous Day's EOD, Source: StockDio

Stock Movers From Our US Large-Cap Model

Top Buy Winners and Losers

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Winners Ticker Sector Industry 1D Return 5D Return YTD
HENRY (JACK) & ASSOCIATES JKHY Information Technology IT Services 7.48% 8.32% 29.63%
ADOBE SYSTEMS INC ADBE Information Technology Software 1.59% 1.98% 36.33%
DOMINO'S PIZZA INC DPZ Consumer Discretionary Hotels, Restaurants & Leisure 1.44% 2.55% 44.88%
FORTINET INC FTNT Information Technology Software 1.44% 1.95% 56.10%
ABBOTT LABORATORIES ABT Health Care Health Care Equipment & Supplies 1.41% 3.41% 12.45%
 
Losers Ticker Sector Industry 1D Return 5D Return YTD
LOSERS TICKER SECTOR INDUSTRY 1 DAY RETURN 5 DAY RETURN YTD
BROADCOM INC AVGO Information Technology Semiconductors & Semiconductor Equipment -1.42% 0.46% -23.82%
VERIZON COMMUNICATIONS INC VZ Telecommunication Services Diversified Telecommunication Services -1.41% 1.68% 4.67%
DTE ENERGY CO DTE Utilities Multi-Utilities -1.33% -0.93% 4.30%
SHERWIN-WILLIAMS CO SHW Materials Chemicals -1.29% 0.30% 6.59%
AMERICAN ELECTRIC POWER CO AEP Utilities Electric Utilities -1.28% -1.45% 0.44%

Source: S&P Capital IQ, StockDio

Top Short Winners and Losers

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Winners Ticker Sector Industry 1D Return 5D Return YTD
FINISAR CORP FNSR Information Technology Communications Equipment -4.97% 0.97% -12.77%
AMERICAN AIRLINES GROUP INC AAL Industrials Airlines -2.87% 4.57% -29.47%
ALTICE USA INC ATUS Consumer Discretionary Media -2.72% 4.51% -5.73%
ESPERION THERAPEUTICS INC ESPR Health Care Biotechnology -1.70% 5.23% -31.71%
DISCOVERY INC DISCA Consumer Discretionary Media -1.64% 10.93% 22.94%
 
Losers Ticker Sector Industry 1D Return 5D Return YTD
EXACT SCIENCES CORP EXAS Health Care Biotechnology 26.63% 30.21% 23.21%
BLOOM ENERGY CORP-REDH BE Industrials Electrical Equipment 6.62% 16.43% 7.70%
CALIFORNIA RESOURCES CORP CRC Energy Oil, Gas & Consumable Fuels 5.79% 18.87% 55.01%
TANDEM DIABETES CARE INC TNDM Health Care Health Care Equipment & Supplies 5.71% 14.12% 270.65%
IMMUNOMEDICS INC IMMU Health Care Biotechnology 5.40% 5.08% 36.05%

Source: S&P Capital IQ, StockDio

Cryptos

  • Chinese regulators issued a warning Friday to business schemes looking to raise funds illegally by claiming to be related to blockchain and/or cryptocurrency projects.  People’s Bank of China and, Ministry of Public Security,  Banking Regulatory Commission, General Administration of Market Supervision and the Central Network Information Office issued a joint statement condemning these blockchain projects, notably those that have operations using overseas IP addresses but solicit investment from Chinese residents. 
  • The SEC announces it will review its decision on wednesday to reject 9 Bitcoin ETF proposal, including the two proposals from ProShares.  SEC Chairman Jay Clayton and the commissioners will review each application individually to determine whether SEC staff ruled fairly. 
  • The Singapore Stock Exchange is working with the Monetary Authority of Singapore (MAS) to roll-out a blockchain technology that will permit Delivery vs. Payment (DvP) stocks settlement to move to a distributed ledger.  The objective of the partnership is to move DvP settlement to blockchain-based smart contracts. 

Cryptocurrencies Today

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Events Calendar

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Source: S&P Capital IQ