>>> US Gapping down

Gapping down
Briefing note - With US futures trading down ~1.5%, most stocks are trading lower. The following represents some stocks with specific catalysts

Select China related names showing weakness after Hong Kong fell 3.3%:

  • JD -3.6%, ASHR -3.2%, BABA -3.2%, FXI -3.1%, BIDU -2.2%

Select ETFs showing early weakness:

  • IWM -2.2%, USO -2.2%, DIA -1.7%, SPY -1.5%, QQQ -1.3%, .

Other news:

  • LI -4.4% (lowers Q3 delivery outlook)

Analyst comments:

  • LEA -4% (downgraded to Hold from Buy at Jefferies)
  • BWA -3.9% (downgraded to Hold from Buy at Jefferies)
  • PTGX -2.7% (downgraded to Neutral from Overweight at JP Morgan)