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Market Matters:

Futures Reverse Heavy Losses On Trump CFIUS Announcement
by Geoff Garbacz & Staff Writers

June 27, 2018

In After Hours Trading

IPOs on deck of note none. Secondaries of note .

In After Hours Trading: SURPRISES none of note. MISSES none of note.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +0.25, Dow Jones +1, NDX -13.50 and Russell 2000 -5.50 with fair value flat. Asia lower and Europe mixed.

Gold, silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 120.14 with yields lower since yesterday. Prices as of 7:40 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 Expected

Earnings due after the close (by avg. trade volume): .

Earnings due tomorrow morning: .

Rags & Mags: Inside Wall Street

Reported Earnings This Morning

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

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1750 stocks rise and 1138 fall on the NYSE. NASDAQ saw 1752 rise and 1225 fall.

The SP 500 broke its 50 day exponential moving average yesterday and is 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 is invested. 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

Politico

President Trump announced he will use CFIUS to deal with intellectual property violations of technology by foreign countries and companies.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, . Goldman Sachs European Business Services, Transport & Leisure Conference. UBS Korea Conference.

Conference of Note

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs    
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch CSII NUVA GMED
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Stifel    
William Blair    
Jefferies HCSG  
RBC    
Needham    
Raymond James    
Stifel    
Friedman Billings    
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    
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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