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Global stocks little changed as President Trump accuses Chinese government of interfering in US midterm elections

Sep 27, 2018

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US Stocks

  • Global stocks are inching higher this AM, after a sell-off in Asian stocks overnight
  • US stocks index futures are edging higher, pointing to a positive open in NY with the Dow Jones minis +0.07% S&P500 minis +0.11% and Nasdaq 100 minis +0.26% 
  • Comments by US President Donald Trump that he and Chinese President Xi Jinping may no longer be friends after President Trump accused the Chinese government of interfering in US midterm elections is spooking global investors 
  • The SPDR S&P 500 ETF (SPY) experienced inflows of USD$1.23bn during yesterday’s trading session, increasing assets under management +0.4% to USD$279.5bn
  • The VIX is little changed this morning and is currently at 12.61 after closing at 12.89 yesterday
  • Fortive Corp (FTV) October 19 OTM Calls & Puts, EEM November 16 OTM Cals, QQQ September 28 OTM Calls, and SPY September 28 OTM Puts are the most heavily traded options contracts in the US pre-market
  • US 10-Year Treasury Bonds are lower with yields up 0.38 basis points to 3.05%
  • The US Treasury 2s-10s Spread has narrowed 0.02 basis points to 0.23%
  • WTI Crude is currently down -1.39% to USD$71.57/bbl with the Brent-WTI spread up USD$1.71 to USD$9.97/bbl
  • Gold is currently little changed 0.07% to USD$1195.3/oz

Stocks Trending in the News

Click name for Q-Factor score and financial data.

  • Accenture (ACN) reports F4Q20128 results in-line with Consensus while guidance range for FY2019 was below the Street.  The stock is currently up 1.3% to USD$175.16.  Accenture is not rated in our Global Top Picks.
  • The United Launch Alliance, made up of Boeing (BA) and Lockheed Martin (LMT), has chosen Jeff Bezo’s  Blue Origin to supply engines for its Vulcan rocket.  This is Blue Origin’s first order and a formal announcement is due later today.  Boeing is rated ‘Top Buy’ in our US Large-Cap Global top Picks and ‘Attractive’ in our US Industrials Global Top Picks, Lockheed is rated ‘Attractive’ in our US Large-Cap Global top Picks and ‘Attractive’ in our US Industrials Global Top Picks
  • Hella (HLE GR) reported 1Q growth of 10.3% (F/X adjusted), above what the market was expecting.  Warburg issued a note reiterating its buy and highlighting that its quarter saw an improvement in gross margin and a lower tax rate.  Despite the good news the stock is down 2.9% at 49.22 euros.  Hella is rated ‘Attractive’ in our European SMID-Cap Global Top Picks
  • H&M (HMB SS) is 10.4% higher at 164 kronos after its CEO made optimistic comments on the future.  He stated he believes the company has its inventory challenges under control and that they are “being smarter about our purchases”.  H&M is rated ‘To Short’ in our European Large-Cap Global Top Picks
  • McCormick & Co (MKC) reports 3Q adjusted EPS that is in-line with Street expectations while FY estimates are at the lower-end of the new FY guidance.  McCormick is little changed in pre-market trading.  The stock is rated as “Attractive” in our US Large-Cap Global Top Picks and “Top Buy” in our US Consumer Staples Top Picks.
  • Philip Morris International (PM) cut it full year forecast and now expects EPS of USD$4.97-5.02.  The company was keen to point out that the cut was due to currency weakness in Turkey and Argentina and not due to problems in the tobacco business.  Philip Morris is rated ‘Neutral’ in our US Large-Cap Global Top Picks and ‘Attractive’ in our US Consumer Staples Global Top Picks
  • Ryanair (RYA) is preparing for a strike in Germany set to begin tomorrow.  Its crews are set to walk off tomorrow as no progress has yet been reported in talks.  Ryanair is trading down 0.72% at 13.01 euros.  Ryanair is rated ‘To Short’ in our European Large-Cap Global Top Picks
  • Saga (SAGA LN) is trading 2.3% higher at 128.90 pence after Peel Hunt published a note reiterating its buy.   The note cited recovering margins and that company is “starting to get back on track”.  Saga is rated ‘Neutral’ in our United Kingdom All-Cap Global Top Picks

European Stocks

  • European stocks are drifting down this morning, as traders are still trying to make sense of the US Fed’s comments after its decision to raise its benchmark interest rate 25 bps to the 2-2.25% range.  
  • A budget debate among Italian government coalition partners is also creating unease in European markets -- Eurozone banks are pressuring the benchmark Euro Stoxx indices
  • Annual inflation in Germany increased more than expected in September, 2.2% Y/Y, exceeding the European Central Bank's price stability target
  • The Euro Stoxx 600 is currently down -0.2%, the FTSE 100 is higher by +0.2%, the DAX has fallen -0.28%, and the CAC 40 is lower by -0.14%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.6x
  • Oil & Gas (+0.46%), Retail (+0.2%), and Personal & Household Goods (+0.2%) stocks are the top performers in the Euro Stoxx 600 today
  • Banks (-0.82%), Chemicals (-0.66%), and Financial Services (-0.6%) stocks are the worst performers in the Euro Stoxx 600 today
  • 59 stocks in the Euro Stoxx 600 are at 4-week highs while 51 stocks are at 4-week lows
  • 34 stocks in the Euro Stoxx 600 are overbought while 20 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 13.37 after closing at 12.85 yesterday
  • EUR€ is currently down -0.187% against the USD$ to 1.1717
  • GBP£ is currently down -0.205% against the USD$ to 1.314
  • CHF is currently down -0.435% against the USD$ to 1.0307
  • German 10-Year Bunds are higher with yields down -1.1 basis points to 0.515%
  • UK 10-Year GILTs are higher with yields down -1.3 basis points to 1.58%
     

Asian Stocks

  • The rally in Asian stocks stalled overnight, with major indices closing in the red 
  • The Nikkei 225 finished down -0.99%, the Hang Seng ended down -0.36%, the Hang Seng China Enterprise declined -0.42%, and the CSI 300 was -0.4%
  • Investor sentiment for Japanese stocks finished negative with the advance/decline ratio for the Nikkei 225 closing at 0.25x
  • 59 stocks in the Nikkei 225 hit 4-week highs while 1 stock reached 4-week lows
  • 87 stocks in the Nikkei 225 closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
  • Investor sentiment for Hong Kong stocks finished negative with the advance/decline ratio for the Hang Seng closing at 0.52x
  • 5 stocks in the Hang Seng hit 4-week highs while 0 stocks reached 4-week lows
  • 0 stocks in the Hang Seng closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
  • Japan 10-Year Government Bonds are higher with yields down -0.6 basis points to 0.12%
  • JGBs 2s-10s Spread has widened 0.1 basis points to 0.23%
  • JPY¥ is currently little changed against the USD$ at 112.8

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

Stock Sentiment

Top Stocks by 7-day News Volume

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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 1762 8.71 0 4 2.49% 2.2%
Netflix Inc 1039 8.57 -4 -18 0.1% 0.86%
Comcast Corp 970 7.86 2 11 0.35% 4.89%
Microsoft Corp 803 5.86 3 29 0.19% 7.15%
Goldman Sachs Group Inc/The 727 7.43 -6 22 -0.77% 6.8%

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

Top Stocks by 7-Day Average News Buzz

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Name 7 Day News
Volume
7 Day Average
News Buzz
1M EPS Net
Revisions
3M EPS Net
Revisions
1M EPS
% Chg
3M EPS
% Chg
QUALCOMM Inc 236 9.29 4 19 -0.69% 17.16%
PepsiCo Inc 113 9 0 6 -0.26% 1.8%
Costco Wholesale Corp 54 9 7 11 0.11% 0.48%
United Technologies Corp 27 8.86 0 17 0.24% 3.55%
International Business Machines Corp 374 8.86 1 -3 0.12% 0.5%

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 9.37 50.6% 11.52 59.13% 1.23 70.44% 3.31 89.09% 4.23 88.89%
QQQ 13.63 41.07% 15.87 56.55% 1.16 81.75% 2.12 60.32% 3.54 80.95%
IWM 12.3 35.32% 13.67 40.67% 1.11 72.62% 4.33 87.3% 3.71 78.37%
FEZ 12.82 51.59% 13.47 42.26% 1.05 40.28% -1.15 31.15% -1.28 24.21%
EEM 17.81 67.46% 18.71 69.84% 1.05 54.17% 0.75 49.21% 0.56 46.03%

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
BERRY GLOBAL GROUP INC BERY Materials Containers & Packaging 1.54% -3.63% -20.45%
WESTERN UNION CO WU Information Technology IT Services 1.53% 2.44% 2.77%
DISNEY (WALT) CO DIS Consumer Discretionary Media 1.38% 4.82% 3.8%
TJX COMPANIES INC TJX Consumer Discretionary Specialty Retail 1.28% 2.13% 38.9%
DOLLAR GENERAL CORP DG Consumer Discretionary Multiline Retail 1.1% 0.17% 16.09%
 
Losers Ticker Sector Industry 1D Return 5D Return YTD
CINTAS CORP CTAS Industrials Commercial Services & Supplies -5.7% -4.69% 24.88%
BLACKBAUD INC BLKB Information Technology Software -3.29% -0.37% 5.75%
STERLING BANCORP STL Financials Banks -2.45% -1.12% -8.77%
JEFFERIES FINANCIAL GRP INC JEF Financials Diversified Financial Services -2.09% -4.4% -17.27%
CULLEN/FROST BANKERS INC CFR Financials Banks -2.05% -3.64% 11.49%

Source: S&P Capital IQ, StockDio

Top Short Winners and Losers

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Winners Ticker Sector Industry 1D Return 5D Return YTD
CHEGG INC CHGG Consumer Discretionary Diversified Consumer Services -12.89% -8.91% 54.07%
SOUTHWESTERN ENERGY CO SWN Energy Oil, Gas & Consumable Fuels -10.46% -6.37% -13.38%
HERON THERAPEUTICS INC HRTX Health Care Biotechnology -8.62% -11.63% 48.34%
GULFPORT ENERGY CORP GPOR Energy Oil, Gas & Consumable Fuels -8.32% -10.36% -25.65%
ANTERO RESOURCES CORP AR Energy Oil, Gas & Consumable Fuels -7.69% -13.63% -12.82%
 
Losers Ticker Sector Industry 1D Return 5D Return YTD
BLOOM ENERGY CORP-REDH BE Industrials Electrical Equipment 4.92% 20.21% 35.91%
ACACIA COMMUNICATIONS INC ACIA Information Technology Communications Equipment 4.59% 7.46% 13.44%
FOSSIL GROUP INC FOSL Consumer Discretionary Textiles, Apparel & Luxury Goods 3.9% 5.91% 100.07%
CARVANA CO CVNA Consumer Discretionary Specialty Retail 3.02% 3.66% 120.59%
SAREPTA THERAPEUTICS INC SRPT Health Care Biotechnology 2.71% 4.41% 100.29%

Source: S&P Capital IQ, StockDio

Cryptos

  • A Swiss-based startup headed by former UBS bankers, SEBA Crypto AG, has raised 100 million Swiss Francs (USD$103 million) to build a bank that offers crypto related services. SEBA Crypto AG plans to apply for a banking and security dealer license through Switzerland’s financial market regulator, FINMA. This license would allow SEBA Crypto AG to partake in crypto trading and investing on behalf of other banks and qualified investors.  
  • A US federal district judge ruled that an alleged fraudulent cryptocurrency scam can be classified as a commodity and falls under the jurisdiction of the Commodity Futures Trading Commission (CFTC). The CFTC sued alleged fraudulent coin, My Big Coin Pay, after the individuals behind the coin misled investors by releasing a series of false statements. The coin raised roughly USD$6 million from investors while claiming the coin was backed by gold.   
  • According to two US financial experts, North Korea is utilizing cryptocurrencies in order to evade US sanctions. Lourdes Miranda, a financial crimes investigator, and Ross Delston, an expert in anti-money laundering and combatting financing of terrorism, believe that North Korea is making its own cryptocurrency while also using popular cryptocurrencies like Bitcoin. Earlier this year, former NSA cybersecurity official, Priscilla Moriuchi, said that North Korea is likely earning between USD$15 million and USD$200 million per year by mining and selling cryptocurrencies.  
  • Chinese search engine and web services company, Baidu, has released the, “Baidu Blockchain White Paper V1.0” that describes a, “Super Chain” network system. Released Wednesday, the paper lays out the idea of developing a blockchain-as-a-service platform that would house six of Baidu’s current applications, including Totem, Degree Universe, Baidu Association, Treasure Chest, Encyclopedia Online, and Hubert. Baidu’s white paper claims that the, “Super Chain” is more efficient than a traditional blockchain and has an ability to perform with a higher degree of hardware utilization. 

Cryptocurrencies Today

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

Events Calendar

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Company Name Ticker Event Date Event Type Q-Factor Score
iKang Healthcare Group, Inc. KANG 9/27/2018 Earnings Release Date China All-Cap: C
Conagra Brands, Inc. CAG 9/27/2018 Earnings Release Date US Large-Cap: C, US Consumer Staples: B
Carnival Corporation CCL 9/27/2018 Earnings Release Date US Large-Cap: B, US Consumer Discretionary: B
Cantel Medical Corp. CMD 9/27/2018 Earnings Release Date US Large-Cap: B
Vail Resorts, Inc. MTN 9/28/2018 Earnings Release Date US Large-Cap: C, US Consumer Discretionary: A
Petratherm Limited PTR 9/28/2018 Estimated Earnings Release Date China All-Cap: A
Santana Minerals Limited SMI 9/29/2018 Estimated Earnings Release Date China All-Cap: C
Hang Seng Bank Limited SEHK:11 9/29/2018 Estimated Earnings Release Date China All-Cap: C
Stitch Fix, Inc. SFIX 10/1/2018 Earnings Release Date US Large-Cap: F
PepsiCo, Inc. PEP 10/2/2018 Earnings Release Date US Large-Cap: B, US Consumer Staples: C
Lamb Weston Holdings, Inc. LW 10/2/2018 Earnings Release Date US Large-Cap: C, US Consumer Staples: C
Paychex, Inc. PAYX 10/2/2018 Earnings Release Date US Large-Cap: B, US Information Technology: B
Acuity Brands, Inc. AYI 10/2/2018 Estimated Earnings Release Date US Large-Cap: C, US Industrials: D
RPM International Inc. RPM 10/3/2018 Earnings Release Date US Large-Cap: D
Lennar Corporation LEN 10/3/2018 Earnings Release Date US Large-Cap: D, US Consumer Discretionary: D
Constellation Brands, Inc. STZ 10/3/2018 Earnings Release Date US Large-Cap: B, US Consumer Staples: C

Source: S&P Capital IQ