Futures Modestly Lower
In After Hours Trading
IPOs on deck of note none but 11 for the week. Secondaries of note none today.
In After Hours Trading: SURPRISES NFLX +.06. MISSES none of note. FLAT: .
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What's Happening This MorningU.S. futures: S&P -2.75, Dow Jones -30, NDX -3.50 and Russell 2000 +0.70 with fair values modestly positive. Asia up and Europe lower.
Gold higher with silver and copper lower. WTI Crude and Brent Oil Futures mixed to flat. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 120.19 with yields flat since yesterday. Prices as of 7:40 a.m. EDT.
Top Sectors Conglomerates and Financials.
Weak Sectors Basic Materials and Healthcare as well as Industrials.
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): CSX IBKR UAL FNF WTFC PNFP MLNX ADTN.
Earnings due tomorrow morning: NVS ABT ASML MS USB ERIC MTB NTRS GWW TXT PACW MTG WAFD.
Rags & Mags: Inside Wall StreetSupport for President Trump and Prime Minister Theresa May both fall post meeting. (Bloomberg)
Amazon (AMZN) suffers outage during Prime Day. (Bloomberg)
Blackrock's (BLK) Larry Fink says that clients are not interested in buying Cryptocurrency. (Bloomberg)
Republicans are split on Trump's comments after meeting with Putin. (WSJ)
Goldman Sachs (GS) names David Solomon to succeed Lloyd Blankfein. (WSJ)
Consumers are struggling to pay off debt. (WSJ)
Europe seeks new trade partners besides the U.S. (NYT)
Deutsche Bank (DB) beats with latest earnings. (NYT)
Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES CMA 0.22 GS 1.33 JNJ +.03 OMC +.06 PACW +05 UNH +.10. MISSES .
Lower Guidance: MSM.
Current Morning missing: .
Mixed Guidance: JNJ.
Positive Guidance: .
Yesterday saw 968 stocks rise and 1925 fall on the NYSE. NASDAQ saw 1150 rise and 1783 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 in cash. The Madison Market Timing Indicator is still invested.
YTD 54% of stocks are higher and 54% are lower. Updated 7/6/18 close.
EconomicsJune Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 0.5% from -0.1%.
PoliticoFederal Reserve Chairman Jerome Powell begins two days of Humphrey Hawkins testimony as he starts with the Senate Banking Committee.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, CYDY.
Conference of NoteFarnborough International Airshow
M & A News
Key Upgrades and Downgrades
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