Top gainers and losers
The top gainers in the S&P 500 on June 12, 2017, were:
- Under Armour (UAA) rose 5.8%.
- Under Armour Inc Class C Comm (UA) rose 4.9%.
- Kimco Realty (KIM) rose 4%.
- General Electric (GE) rose 3.6%.
- Autonation (AN) rose 3.4%.
The top losers in the S&P 500 on June 12, 2017, were:
- Netflix (NFLX) fell 4.2%.
- IDXX Laboratories (IDXX) fell 3.9%.
- Albemarle (ALB) fell 3.7%.
- Equinix (EQIX) fell 3.2%.
- Skyworks Solutions (SWKS) fell 3.0%.
Netflix, one of the world’s leading subscription services for watching TV episodes and movies online, fell on Monday. Weakness in the technology sector since last Friday triggered a sell-off in Netflix on Friday and Monday. Netflix was one of the stocks that rallied higher post-election. On June 12, it opened near its 50-day moving average and closed below it. Closing above its 50-day moving average this week could show Netflix’s strength. Given the weight of Netflix in the NASDAQ Composite Index, the decline in Netflix prices on Monday weighed on NASDAQ. It fell 4.2% and ended the day at 151.44.
Under Armour rose on Monday. On June 9, Under Armour broke the important resistance level of $20 and strengthened the momentum by carrying buying pressure to this week. It trended higher in the morning hours on Monday. It was stable at elevated levels throughout the day. Under Armour lost momentum in 2017 amid tough competition from peers and slower growth.
Increased buying pressure has been observed in Under Armour since the beginning of the month. On June 12, it rose 4.9% and closed the day at 21.2, which is the highest close since January 30, 2017. In the next part, we’ll discuss how the US dollar and US Treasury yields performed in the early hours on June 13.