Futures Rebounding This Morning
In After Hours Trading
IPOs on deck of note . Secondaries of note .
In After Hours Trading: SURPRISES CVCO +.78 CRM +.06 SPTN +.02. MISSES .
Lower Guidance: .
Mixed Guidance: CRM.
Positive Guidance: .
What's Happening This Morning
U.S. futures: S&P +13, Dow Jones +145, NDX +26 and Russell 2000 +6. Asia and Europe lower.
Gold higher with Copper and silver lower. 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 119.31, change since last update +0.02, so yields lower. Prices as of 7:45 a.m. EDT.
Top Sectors Utilities.
Weak Sectors All others.
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 ExpectedEarnings due after the close (by avg. trade volume): PVH KEYS UHAL SMTC BOX GES.
Earnings due tomorrow morning: DG DLTR BURL DCI CIEN AEO PDCO TECD JILL.
Rags & Mags: Inside Wall StreetDemand for European bonds rise day after turmoil. (Bloomberg)
Trump Administration to move forward against China on new tariffs. (Bloomberg)
European banks at risk with trouble in Italy. (WSJ)
Political risks dwarf rise in dollar as oil continues to climb. (WSJ)
How does Starbucks (SBUX) tackle racism in four hours? (NYT)
Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES MOV +.26 DKS +.15 BMO +.08 KORS +.03. MISSES .
Missing: ADI SHLD CHS.
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Yesterday saw 1215 stocks rise and 1704 fall on the NYSE. NASDAQ saw 1118 rise and 1836 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.
EconomicsMortgage Applications continue to fall dropping -2.9%.
ADP Payroll rose 178,000, just reported.
Q1 GDP (revised) is released at 8:30 a.m. EDT and expected to remain at 2.30%.
The OECD releases its semiannual economic outlook.
PoliticoMay Federal Reserve Beige Book is due out at 2:00 p.m. EDT.
The Bank of Canada (BOC) announces its latest interest rate decision and rates are expected to remain at 1.25%.
G-7 Finance Ministers meet in Canada over the next four days.
The Federal Reserve holds an open board meeting to discuss potential changes to the Volcker Rule.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, TRMB CMS DMPI. Deutsche Bank Financial Services Investor Conference, KeyBanc Capital Markets Industrials & Basic Materials Conference. Cowen Telecom, Media and Technology Conference.
Conference of Note
M & A News
Key Upgrades and Downgrades
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