In After Hours Trading
IPOs on deck Amalgamated Bank (AMAL) and Vaccinex (VCNX). Secondaries of note AGS CENTA CTXR EAF ENBL HCC NVEE SBPH SOLO WKHS.
In After Hours Trading: SURPRISES IAC +.79 NTES +.33 ROKU +.15 JACK +.15 BREW +.10 NKTR .04 FOXA +.04. FLAT: MISSED: UHAL -.50 MELI -.46 ADT -.19 INSY -.17.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What's Happening This MorningU.S. futures: S&P +1.50, Dow Jones +9, NDX +4.75 and Russell 2000 -0.20 with fair values lower. Asia and Europe mixed.
Gold, silver and copper higher. WTI Crude and Brent Oil Futures mixed. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.55 with yields lower since yesterday. Prices as of 7:45 a.m. EDT.
Top Sectors Conglomerates, Technology and Financials.
Weak Sectors Utilities and Industrials.
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): .
Earnings due tomorrow morning: .
Rags & Mags: Inside Wall StreetChinese leadership faces backlash over tariff issue with U.S. (CNBC)
Russian market hurt by recent U.S. sanctions. (Bloomberg)
Tesla financing remains a mystery. (Bloomberg)
New York City caps the number of Uber drivers. (NYT)
Reported Earnings This MorningReported This Morning: SURPRISES BKNG +2.77 TRCO +.41 BAM +.14 VIAB +.11 GCI +.10. MISSED: LNG-.37 PTLA -.10 MPAA -.10. FLAT:
Lower Guidance: BKNG PRGO.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: CCE.
Yesterday saw 1304 stocks rise and 1499 fall on the NYSE. NASDAQ saw 1533 rise and 1445 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 back above 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.
EconomicsJuly PPI came in at 0.2% which is lower from last month at 0.3%.
Weekly Jobless Claims came in at 220,000 against 219,000 prior.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
PoliticoFederal Reserve Chicago President Charles Evans speaks at 9:30 a.m. EDT.yes
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, RICK AZPN LB COST BKE.
Jefferies Global Industrial Conference.
Canaccord Genuity Annual Growth Conference.
Conference of Note
M & A NewsUnited Health (UNH) has tentatively agreed to buy specialty pharmacy operator Genoa Health, per Axios, in a deal rumored to be worth about $2 billion.
Rite Aid (RAD) and Albertsons terminate merger.
Tribune (TRCO) calls off merger with Sinclair Broadcasting (SBGI).
Key Upgrades and Downgrades
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