Futures Lower Except NASDAQ Composite Higher Due To Apple Earnings Beat
In After Hours Trading
IPOs on deck none of note. Secondaries of note ACER AGNC BXMT VNOM.
In After Hours Trading: SURPRISES MOH +1.99 BIDU +.59 UIS +.21 AAPL +.16 NFX +.12 PAYC +.11. MISSES CAKE -.16 NBR -.16 APC -.04 DVN -.04. FLAT: .
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: CR.
What's Happening This MorningU.S. futures: S&P -2, Dow Jones -37, NDX +13.75 and Russell 2000 -2.70 with fair values flat. Asia mixed and Europe lower.
Gold, silver and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.30 with yields higher since yesterday. Prices as of 7:55 a.m. EDT.
Top Sectors Industrials, Healthcare and Utilities.
Weak Sectors Financials.
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): TMUS TSLA MET ESRX PRU PSA ALL SQ WMB MRO WYNN APA.
Earnings due tomorrow morning: CI ZTS TRP YUM K TEVA RCL GPN CLX MGM DISH CHD BLL CDW.
Rags & Mags: Inside Wall StreetADP Payroll jumps 219,000 versus estimate of 185,000. (CNBC)
The path to a trillion dollar market cap intact for Apple (AAPL). (CNBC)
China calls U.S. a blackmailer and threatens to fight back on another round of tariff increases. (Bloomberg)
Federal Reserve could announce today that they will take a rest from gradual rate hikes. (Bloomberg)
Facebook (FB) closes fake accounts trying to influence politics. (NYT)
Trump Administration works on reforming capital gains as it indexes gains to inflation. (NYT)
Reported Earnings This MorningReported This Morning: SURPRISES UTHR +.94 ETR +.48 SODA +.41 RDC +.33 MT +.29 HUM +.18 GRMN +.12 D +.07 TAP +.05. MISSES BG -.94 WH -.05. FLAT:
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Yesterday saw 1968 stocks rise and 933 fall on the NYSE. NASDAQ saw 1925 rise and 1055 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 (166.13) 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.
EconomicsJuly ADP Payroll is due out at 8:15 a.m. EDT and is expected to fall to 175,00 from 177,000.
June Construction Spending is due out at 10:00 a.m. EDT and is expected to fall to 0.2% from 0.4%.
July ISM Index is due out at 10:00 a.m. EDT and is expected to fall to 59.4 from 60.20.
Monthly July Car and Truck Sales are due out at 2:00 p.m. EDT.
PoliticoThe Federal Reserve Open Market Committee (FOMC) concludes a two day meeting with no rate changes expected. The next expected change is at the September meeting.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, F SGMO. Keefe, Bruyette & Woods Community Bank Conference. Credit Suisse Annual LatAM Conference.
Conference of NoteIntelligent Automation Week 2018
M & A News.
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