In After Hours Trading
IPOs on deck of note none. Secondaries of note ACRX ASMB NTRA SLS SPRO WHD.
In After Hours Trading: SURPRISES . MISSES none of note. FLAT: OZRK.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What's Happening This MorningU.S. futures: S&P +149.25, Dow Jones +185, NDX +36.50 and Russell 2000 +8.40 with fair values modestly lower. Asia and Europe lower.
Gold lower with silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 120.06 with yields higher 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 ExpectedEarnings due after the close (by avg. trade volume): .
Earnings due tomorrow morning:.
Rags & Mags: Inside Wall StreetU.S. and China may be ready to talk. (Bloomberg)
Traders think the Federal Reserve may be at the end of their hiking process. (Bloomberg)
Morgan Stanley sees the yield curve inverting by mid 2019. (Bloomberg)
Delta (DAL) beats expectations. (CNBC)
Twitter will remove ten of millions of suspicious accounts. (NYT)
Trade War to cost typical American family $60. (NYT)
NATO countries to up spending per Trump's request. (Breaking News)
Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES CBSH +.12 DAL +.05. MISSES .
Lower Guidance: MSM.
Current Morning missing: .
Mixed Guidance: DAL.
Positive Guidance: .
Yesterday saw 812 stocks rise and 2080 fall on the NYSE. NASDAQ saw 1025 rise and 1915 fall.
The SP 500 is back above its 50 day exponential moving average 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 again this morning. The Madison Market Timing Indicator is still invested.
YTD 54% of stocks are higher and 54% are lower. Updated 7/6/18 close.
EconomicsJune CPI is due out at 8:30 a.m. EDT and is expected to remain at 0.2%.
Weekly Jobless Claims due out at 8:30 a.m. EDT.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
PoliticoPresident Trump concludes the NATO Summit then moves onto England. Trump reaffirms U.S. backing of NATO.
Federal Reserve Minneapolis President Neel Kashkari speak at 8:00 p.m. EDT.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, LB CATO BKE.
Conference of NoteSEMICON WEST - Beyond Smart 2018.
M & A NewsBroadcom (AVGO) bids for Computer Associates (CA). Price is $44.50 and it closed at $37.21.
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