In After Hours Trading
IPOs on deck of note none today. Secondaries of note BBGI MTLS.
In After Hours Trading: SURPRISES GOOGL +2.05 AMTD +.10 KALU +.08 CR +.06 STLS +.04 BRO +.03 OI +.03. MISSES none of note . FLAT: .
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: CR.
What's Happening This MorningU.S. futures: S&P +6.50, Dow Jones +106, NDX +14 and Russell 2000 +3.50 with fair values lower. Asia and Europe higher.
Gold,silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 119.50 with yields higher since yesterday. Prices as of 7:55 a.m. EDT.
Top Sectors Financials and Technology.
Weak Sectors Utilities and Industrial Goods.
One month winners Utilities, Healthcare and Consumer Goods.
Three Month Winners Utilities Conglomerates, Services and Technology.
Six Month Winners Services, Technology and Conglomerates.
One Year Winners All except for Utilities.
Year To Date Conglomerates, Services and Technology.
Earnings ExpectedEarnings due after the close (by avg. trade volume): T TXN SYK CNI CB EQR WCN AMP RHI CSL.
Earnings due tomorrow morning: BA KO UPS TMO NEE ANTM GD NOC GM BSX NSC HCA.
Rags & Mags: Inside Wall StreetChina enacts stimulus with its monetary policy. (Bloomberg)
Food Stamp use remains above recession periods. (Bloomberg)
Nike (NKE) raises salaries for 7,000 employees or 10%. (CNBC)
U.S. meat in oversupply situation. (CNBC)
China may stop buying U.S. Oil which was 20% of production. (WSJ)
Apple (AAPL) is vulnerable if trade war accelerates. (WSJ)
Bond fund managers not buying into emerging markets rebound. (WSJ)
Hedge Fund Billionaire Leon Cooperman to shut Omega Advisors and convert to a family office by year end. (NYT)
Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES BIIB +.71 LMT +.39 LLY +.20 HUBB +.19 ATI +.16 PCAR +.16 AVY +.11 UTX +.11 SHW +.09 HOG +.09 VZ +.05 JBLU +.02. MISSES MMM -.01.
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: BIIB LMT LLY.
Yesterday saw 1228 stocks rise and 1658 fall on the NYSE. NASDAQ saw 1433 rise and 1518 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.
EconomicsFHFA Housing Price Index is out at 9:00 a.m. EDT and is expected to rise 0.4% from 0.1%.
Treasury 2 Year Auction will price $35 billion.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, ALNY .
Conference of NoteAlzheimer Association International Conference.
International AIDS Society Conference on HIV Science.
M & A News
Key Upgrades and Downgrades
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