Market data as of 7am EST

US Stocks

• This will be a busy week for tech earnings with Alibaba (BABA), Amazon.com (AMZN), Apple (AAPL), Facebook (FB), Microsoft Corp (MSFT), and Qualcomm (QCOM) set to report this week 
• The US Federal Reserve will announce its decision on interest rates this Wednesday following a two-day meeting.  Fed Funds Futures imply no increase interest rates. 
• US-China trade negotiations are expected to continue this week with Chinese Vice Premier Liu He set to meet with US Trade Representative Robert Lighthizer for 2 days in Washington starting on Wednesday 
• Citigroup strategists suggest financials stocks are set to lose their standing as the top performers in developed markets as slowing global economic growth will inevitably hit valuations 
• Emerging markets stocks ETFs saw positive inflows of USD$1.87 billion last week, the 15th straight week of positive inflows 
• Correlations between the Japanese Yen (JPY) and the S&P 500 is currently at its highest level since November 2017.  
• The VIX is moving up this morning and is currently at 18.64 after closing at 17.42 last week
• SPY January 28 OTM Calls, EEM February 15 & March 15 OTM Calls & Puts, and XLF January 2021 OTM Puts are some of the most actively traded options contracts in the US pre-market this morning
• US 10-Year Treasury Bonds are higher with yields down -0.19 basis points to 2.7566%
• The US Treasury 2s-10s Spread has narrowed 0.21 basis points to 0.15%
• WTI Crude is currently up 0.96% to USD$53.49/bbl with the Brent-WTI spread down USD$-2.12 to USD$6.96/bbl
• NYMEX gasoline spreads, a measure of Refiner profitability, have dropped to an 8-year low following an unexpected build up in domestic motor fuel inventories
• Gold is currently down -0.4% to USD$1300.04/oz

Stocks Trending in the News

Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.
 

• AbbVie (ABBV) saw its price target cut at Merrill Lynch to USD$87 from USD$95 while maintaining its neutral rating.  AbbVie’s results included a 17.5% drop in international sales for Humira, its blockbuster drug and the best-selling drug in the world.  AbbVie is facing competition from biosimilars in Europe for the first time and the news sent the stock lower.  AbbVie is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas
• Caterpillar (CAT) reported fourth quarter adjusted EPS of USD$2.55 while consensus was for USD$2.99.  Caterpillar fourth quarter revenue came at USD$14.3bn, missing consensus of USD$14.36bn.  Caterpillar said that it sees CY2019 adjusted EPS between USD$11.75 and USD$12.75 while consensus USD$12.72. Caterpillar is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Staples Global Top Stock Ideas.
• Deutsche Bank AG (DB: DBK) was awarded a commitment for new investment from Qatar, likely through the Qatar Investment Authority, amid the company’s continued attempt to merge with Commerzbank AG (DB: CBK). Neither Deutsche Bank nor the Qatar Investment Authority commented on the news. Deutsche Bank is rated “Neutral” in our European Large-Cap Global Top Stock Ideas. Commerzbank is rated “Unattractive” in our European Large-Cap Global Top Stock Ideas.
• Eni SpA (BTI: ENI) and OMV AG (WBAG: OMV) will pay USD$5.8bn for a combined 35% stake in Abu Dhabi’s state oil company’s refinancing unit. The deal values Abu Dhabi National Oil Co. at USD$19.3bn. In addition to the acquisition, the companies will partner to form a trading unit selling refined products to international buyers. Eni is rated “Neutral” in our European Large-Cap Global Top Stock Ideas. OMV is rated “Neutral” in our European SMID-Cap Global Top Stock Ideas.
• Kering (ENXTPA:KER) owes the Italian government 1.4 billion euros in back taxes.  The Italian government probed its Swiss subsidiary between 2011 and 2017.  The fine was expected and came within the range of analysts’ estimates.  Kering is rated “Neutral” in our European Large-Cap Global Top Stock Ideas.
• Marathon Petroleum (MPC) announced a dividend increase of 15% to USD$0.53/share. The dividend will be paid on March 11th to shareholders as of February 20th's close. Marathon is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas.
• Nike (NKE) won a 10-year contact to supply Major League Baseball with apparel, a contract that was originally awarded to Under Armour (UAA).  The contract begins in 2020 and Under Armour backed out after originally wining in December 2016.  Nike is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.  Under Armour is rated “Top Short” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas.
• Nissan (TSE: 7201) is being investigated by the SEC over its pay practices and disclosures, according to a report in Bloomberg today.  The SEC is looking at controls in place to prevent improper payments and whether they are sufficient.     Nissan has confirmed the existence of the probe but has not confirmed specifics.  Nissan is rated “Top Buy” in our Japan Large-Cap Global Top Stock Ideas.
• Ocado (LSE: OCDO) and Marks & Spencer (LSE: MKS) shares are both higher today on news of a potential tie-up.  The Daily Telegraph is reporting there are talks underway about a tie-up in supermarket operation.  There have been no comments from the companies as of yet.  Ocado is rated “Top Short” in our United Kingdom All-Cap Global Top Stock Ideas.  Marks & Spencer is rated “Neutral” in our United Kingdom All-Cap Global Top Stock Ideas.  
• S&P Global (SPGI) has been approved to establish a wholly-owned unit in Beijing, as per a statement by the People’s Bank of China. S&P Global was also approved to enter the Chinese bond rating market. The People’s Bank of China stressed that it will support more foreign agencies entering its credit rating market in the announcement. S&P Global is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas.
• Schindler Holding AG (SWX: SCHN) was upgraded at HSBC from reduce to buy. In addition to the upgrade, HSBC increased its price target for Schindler from 190 franc/share to 255 franc/share, implying a 25% upside from Friday’s closing price.  Schindler is not rated in our Global Top Stock Ideas.
• Siemens (DB: SIE) and Alstom (ENXTPA:ALO) are making changes to their plans to merge their rail operation to gain EU approval but have yet to assuage all the regulator’s concerns, according to Bloomberg.  The companies offered new concessions on January 25th and all indications are that they were not enough.  Alstom is rated “Top Buy” in our European Large-Cap Global Top Stock Ideas.  Siemens rated “Neutral” in our European Large-Cap Global Top Stock Ideas.
• Vale (VALE) has seen the death toll from its tallying dam break at one of its mines in the state of Minas Gerais in Brazil grow to 58 people.  Over 200 people are still missing after a wall of mud leveled buildings and made roads in the area impassable.  Among the missing are many Vale employees who were in a building that was leveled by mud. Vale voted over the weekend to suspend its dividend in the wake of the disaster.  Vale is rated “Top Buy” in our Brazil All-Cap Global Top Stock Ideas.
• Versum Material Inc (VSM) announced it is merging with Entegris Inc (ENTG) combing 2 key makers of semiconductor parts.  Versum shareholders will receive 1.12 shares of Entegris in the transaction.  The new company with have a USD$9 billion market cap and USD$3 billion in revenue.  Versum is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.  Entegris is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Information Technology Global Top Stock Ideas.  

European Stocks

• European stocks are declining ahead of Tuesday’s vote on a revised BREXIT proposal in the UK Parliament an and a follow-up of US-China trade negotiations later in the week
• The Euro Stoxx 600 is currently down -0.48%, the FTSE 100 has declined -0.39%, the DAX has fallen -0.26%, and the CAC 40 is lower by -0.47%
• Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.6x
• Oil & Gas (-1.06%), Telecommunications (+0.39%), and Basic Resources (+0.37%) stocks are the top performers in the Euro Stoxx 600 today
• Automobiles & Parts (-0.21%), Food & Beverage (-0.59%), and Utilities (-0.5%) stocks are the worst performers in the Euro Stoxx 600 today
• 207 stocks in the Euro Stoxx 600 are at 4-week highs while 21 stocks are at 4-week lows
• 34 stocks in the Euro Stoxx 600 are overbought while 6 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 15.47 after closing at 14.78 yesterday
• EUR€ is currently little changed against the USD$ at 1.1414
• GBP£ is currently down -0.333% against the USD$ to 1.3152
• CHF is currently little changed against the USD$ at 1.0077
• German 10-Year Bunds are lower with yields up 2.5 basis points to 0.218%
• UK 10-Year GILTs are lower with yields up 1.5 basis points to 1.32%

Asian Stocks

• Asia stocks start the week mixed ahead of further US-China trade talks this week 
• The Nikkei 225 finished down --0.6%, the Hang Seng ended up +0.03%, the Hang Seng China Enterprise up +0.08%, and the CSI 300 was -0.02%
• To date, January is on pace to be the best month for Asian stocks (in terms of returns) in 12 months with valuations currently trading at 2-month highs 
• People’s Bank of China (PBOC) announces a tweak to its reserve policy that frees up an additional 250 billion yuan (USD$37 billion) in funds available for lending after an internal review 
• Investor sentiment for Japanese stocks finished negative with the advance/decline ratio for the Nikkei 225 closing at 0.23x
• 77 stocks in the Nikkei 225 hit 4-week highs while 5 stocks reached 4-week lows
• 1 stock in the Nikkei 225 closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
• Investor sentiment for Hong Kong stocks finished negative with the advance/decline ratio for the Hang Seng closing at 0.61x
• 26 stocks in the Hang Seng hit 4-week highs while 0 stocks reached 4-week lows
• 10 stocks in the Hang Seng closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
• Japan 2-Year Government Bonds are lower with yields up 0.6 basis points to -0.162%
• Japan 10-Year Government Bonds are lower with yields up 0.5 basis points to 0.002%
• JGBs 2s-10s Spread has narrowed 0.1 basis points to 0.16%
• JPY¥ is currently little changed against the USD$ at 109.47

*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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Top Stocks by 7-Day Average News Buzz

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Implied Volatility Data For Liquid Macro Index ETFs

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S&P 500 Sector Performance

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Russell 1000 Factor Performance

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Stock Movers From Our US Large-Cap Model

Top Buy Winners and Losers

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Top Short Winners and Losers

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Cryptos

• Cryptocurrency prices fell harshly lower over the weekend with the price of Bitcoin (BTC) down 3.96% since end of day Friday to USD$3,463.28. Major cryptocurrencies Ripple (XRP) and Ethereum (ETH) each fell 7.30% and 9.28% to USD$0.292363 and USD$105.68, respectively -- XRP also flipped ETH to become the second-largest cryptocurrency by market capitalization.  
• John Van Eck, CEO of Van Eck Associates, suggested in an interview with CNBC that Bitcoin (BTC) investors are moving to gold investments. Van Eck told CNBC, “that Bitcoin pulled a bit of demand away from gold last year, in 2017.” Van Eck went on to say, “Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it’s going the other way.” 
• Kik, a social media messaging application based in Canada, told the Wall Street Journal (WSJ) that they intend to fight back against enforcement by the US Securities and Exchange Commission (SEC) over the company’s Initial Coin Offering (ICO) in 2017. Kik raised roughly USD$100mm through the sale of Kin (KIN) tokens, which can be earned by users on the platform, traded on exchanges, or redeemed for goods and services.   
• South Korean cryptocurrency exchange giants Bithumb, Upbit, Korbit, and Coinone are partnering to combat money laundering, according to a report by The Korea Herald. The four South Korean exchanges are developing a hotline where domestic users can call with any information on unusual trading or payments possibly related to crimes. Earlier this month, the South Korean government approved only 7 of 21 domestic crypto exchanges following a thorough security audit -- Bithumb, Upbit, Korbit, and Coinone were among those approved. 

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