Superstock Investor
Member Login   RSS ->
James DiGeorgia, Mr. Macro
- Chief Editor -
Mr. Macro
Geoff Garbacz, Mr. Micro
- Chief Strategist -
Mr. Micro
Dan Hassey, Mr. Retirement
- Senior Stock Analyst -
Mr. Retirement
Superstock Investor


[Printable Version of This Page]

Market Matters:

Futures Lower This Morning
by Geoff Garbacz & Staff Writers

May 23, 2018

In After Hours Trading

IPOs on deck of note NONE. Secondaries of note AMBO ARDX BL CADE CHRS EVOP FBK IGT MYOK PFNX TSC TWOU USAT.

In After Hours Trading: SURPRISES CTRP +.39 INTU +.14 URBN +.07 HPE +.03. MISSES TCS -.05 RRGB -.07.

Lower Guidance: RRGB.

Mixed Guidance: INTU HPE.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -19.75, Dow Jones -204, NDX -75 and Russell 2000 -5.70. Asia and Europe lower.

Gold higher with Copper and silver higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 119.33, one day change +0.55, so yields lower. Prices as of 7:45 a.m. EDT.

Top Sectors Financials and Utilities.

Weak Sectors Industrials and conglomerates.

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): CPRT LB NTAP SNPS WSM.

Earnings due tomorrow morning: BBY HRL MCK MDT SAFM SHLD TD TTV WUBA.

Rags & Mags: Inside Wall Street

Mortgage Applications continue to fall and Refi Index hits lowest level since December 2000. (EGN)

Rollback of bank rules. (See Articles That Matter).

ZTE would see $3 billion of losses due to tariffs. (EGN)

Europe plays catchup to U.S. profits. (WSJ)

Trade tensions linger this morning as futures drop (WSJ)

Global growth looking weak. (WSJ)

How bad can it get in Italy?. (WSJ)

Facebook's (FB) Mark Zuckerberg gets lectured by EU regulators and legislatures. (NYT)

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES TIF +.31 RL +.07. MISSES LOW -.02 TGT -.07.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1119 stocks rise and 1761 fall on the NYSE. NASDAQ saw 1228 rise and 1630 fall.

The SP 500 is above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is 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 last week. 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 New Home Sales are released at 8:30 a.m. EDT and expected to fall to 677,000 from 694,000.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Politico

May Federal Reserve Open Market Committee (FOMC) Minutes are released at 2:00 p.m. EDT.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, PCAR ALGN HUN ASGN QRVO TMO PLAB. UBS Global Healthcare Conference. Suntrust Robinson Humphrey Financial Services Conference.

Conference of Note

M & A News

Comcast (CMCSA) ups bid for businesses that Fox (FOXA) is selling to Disney (DIS).

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs    
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp AGIO  
Merrill Lynch HQY ACRE
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Stifel    
William Blair    
Jefferies VIRT  
CIBX    
Needham    
Raymond James    
Stifel    
Friedman Billings    
B. Riley FCX  
Nomura    
Robert W. Baird    
Cowen    
Sun Trust RH SMAR  
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    

 

Market Matters Archives

FREE SERVICES

Morning Briefing

Get the information you need to make profitable decisions first thing in the morning. Access to the information is FREE, not knowing it could cost you a bundle!

SUBSCRIBER SERVICES

Superstock Investor Newsletter

Published once a month. Get the big picture, what happened last month and predictions for the month ahead.

Investors Edge

Take advantage of the knowledge provided by people who live to monitor the Stock Market. People like:

  • Phil Erlanger
  • Tom McClellian
  • Mohan
  • Geoff Garbacz
  • Steve Weintz

Get access to information from publications like:

  • The Kiplinger Letter
  • The Agile Trader
  • McClellan Market Report
  • Gold and Energy Options Trader
  • Mohan's Market Force

***

Not a Subscriber?

[Superstock Investor Newsletter]

Superstock Investor's goal is to provide subscribers a steady stream of original stock ideas with an emphasis on takeover candidates. These are companies that have flown onto our radar screens as potential takeover targets, or special situations with some catalyst promising to send their shares soaring. Continue..