Futures Bouncing After Three Days Of Weakness
In After Hours Trading
IPOs on deck of note . Secondaries of note .
In After Hours Trading: SURPRISES ILMN +.32 SPWR +.29 RCII +.23 RIG +.14 KLAC +.10 SF +.07 UNM +.04. MISSES JJSF -.12 VNO -.10 TXRK -.05 EFII -.03. FLAT: .
Lower Guidance: SPWR AMKR DENN.
Mixed Guidance: .
Positive Guidance: CR.
What's Happening This MorningU.S. futures: S&P +7.50, Dow Jones +31, NDX +25.25 and Russell 2000 +1.90 with fair values flat. Asia higher and Europe mixed.
Gold, silver and copper lower. WTI Crude lower and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 119.52 with yields lower since yesterday. Prices as of 7:55 a.m. EDT.
Top Sectors Basic Materials.
Weak Sectors All others.
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): AAPL BIDU APC FISV OKE DVN IQ ES BXP VRSK FE AKAM.
Earnings due tomorrow morning: EPD ADP D HUM EXC S TAP GRMN SPR BG HBI AN CHK.
Rags & Mags: Inside Wall StreetMorgan Stanley saw biggest sell off since February on the way. (CNBC)
President Trump tells Koch brothers he does not need their money. (CNBC)
Apple (AAPL) earnings are the stop gap to control the bleeding of tech stocks. (Bloomberg)
Employment costs rise the most since 2008. (Bloomberg)
Chinese economy feeling the heat of tariffs. (WSJ)
President Trump willing to meet with the supreme leader of Iran. (WSJ)
Pension deficit for U.S. cities the size of Japan economy. (WSJ)
Reported Earnings This MorningReported This Morning: SURPRISES SNE +100.24 +HMC +22.49 WCG +.65 CMI +.48 CHTR +.32 ADM +.25 RL +.18 OSK +.17 AMT +.10 WDR +.08 PFE +.07 SHOP +.04 PG +.04. MISSES LL -.28 VMC -.12 IGT -.08 GLT -.04 MAS -.02. FLAT:
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: SNE WCG PG.
Positive Guidance: GD PII IR GLW.
Yesterday saw 1324 stocks rise and 1550 fall on the NYSE. NASDAQ saw 1049 rise and 1937 fall.
The SP 500 is above its 50 day exponential moving average and is above its 200 day exponential moving average. The Russell 2000 is now below its 50 day moving exponential average and is above 200 day exponential moving average.
The 10 day spread moving average of breadth is now a sell. The Madison Market Timing Indicator is still invested.
YTD 55% of stocks are higher and 45% are lower. Updated 7/20/18 close.
EconomicsJune Personal Income is due out at 8:30 a.m. EDT and is expected to remain at 0.4%.
July Chicago PMI is due out at 9:45 a.m. EDT and is expected to fall to 62 from 64.1.
July Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 126.6 from 126.4.
PoliticoThe Bank of Japan (BOJ) announces its latest interest rate decision.
The Federal Reserve Open Market Committee (FOMC) begins a two day meeting.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, LNGG CSII.
Conference of NoteIntelligent Automation Week 2018
M & A News.
Key Upgrades and Downgrades
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