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Market Matters:

Futures Higher This Morning
by Geoff Garbacz & Staff Writers

May 10, 2018

In After Hours Trading

IPOs on deck of note AXA Equitable Holding (EQH). Secondaries of note AGS IART NBR.

In After Hours Trading: SURPRISES PBYI +.34 PTLA +.28 DNB +. 17 GDOT +.11 ROKU +.09 BREW +.06. MISSES MBI -.76 MELI -.73 IAC -.09 OTEX -.08 FOXA -.04 ETE -.01.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +5, Dow Jones +21, NDX +14.50 and Russell 2000 +0.5. Asia higher and Europe mixed.

Copper,silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 119.34, one day change +0.06, so yields higher. Prices as of 7:45 a.m. EDT.

Top Sectors All except for Utilities.

Weak Sectors Utilities.

One month winners Basic Materials, Utilities, Services and Healthcare.

Three Month Winners Utilities.

Six Month Winners Services, Basic Materials, Technology and Conglomerates.

One Year Winners All except for Conglomerates.

Year To Date Basic Materials, Services and Technology.

Earnings Expected

Earnings due after the close (by avg. trade volume): NVDA SYMC NKTR DOX NWSA FLS AL YELP.

Earnings due tomorrow morning: TRI.

Rags & Mags: Inside Wall Street

Bloomberg sees CPI due to rise to 2.5%. Fed not concerned inflation overshoots. (Bloomberg)

Overnight BT Group PLC (British Telecom) laid off 13,000 job cuts. (Bloomberg)

Iran to cozy up to China. (Bloomberg)

VIX begins to look normal again. (Bloomberg)

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES PEGI +1.17 BAM +.56 AMCX +0.45 ENB +.18 DUK +.14 CRL +.12 CHH +.07 . MISSES SPH -.42 LHO -.38 IMOS -.19 KELYA -.10.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: CHH TGI.

Positive Guidance: .

Data Points

Yesterday saw 1818 stocks rise and 1066 fall on the NYSE. NASDAQ saw 1765 rise and 1105 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is now back above its 50 day moving exponential average and is above 200 day exponential moving average.

The 10 day spread moving average of breadth moved to invested yesterday. The Madison Market Timing Indicator is still invested.

YTD 45.66% of stocks are higher and 53.80% are lower. Updated 4/27/18 close.

Economics

April CPI is released at 8:30 a.m. EDT and expected to fall to 0.20% from 0.30%.

The latest short interest from the NYSE and NASDAQ was released after the close of trading. The Data saw no change through April 30th settlement.

Politico

The Bank of England (BOE) announced its latest interest rate decision and left rates unchanged.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, . Jefferies Global Technology Conference. UBS Utilities and Natural Gas Conference.

Conference of Note

Red Hat (RHT) Annual Summit. Watch for news on Red Hat and players with Red Hat.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs AIG  
Morgan Stanley   M
Deutsche Bank    
Citigroup CC Merrill Lynchp CVRR  
Merrill Lynch MPC TPR HAL OXY EOG BHGE
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Stifel    
William Blair    
Jefferies COT  
CIBX    
Needham    
Raymond James    
Stifel    
Friedman Billings    
Sanford Bernstein    
Nomura    
Robert W. Baird    
Cowen    
Sun Trust RH    
MKM    
Sandler O'Neil    
Keefe Bruyette    
Cantor Fitzgerald    
CIBC    
Dresnder    
Nomura    
HSBC Securities    
Cowen  
William Blair    
BNP Paribas    
B. Riley P  
Kaufman  
Brean Murray    
JMP Securities    
Wedbush    
Argus    
CLSA    
BB&T    
ING    
Roth    
Janney Montgomery  
Susquehanna    
Think Equity    
Merriman    
Cantor Fitzgerlad    
BMO Capital  
Benchmark    
Jesup & Lamont    
Macquarie    
Canaccord Adams    
Evercore    
MKM    
Bernstein    
CLSN    
Guggenheim    
Auriga    
Stephens    
BTIG    
Global Hunter    

 

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