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Market Matters:

Futures Lower With Tons Of Conferences On Tap
by Geoff Garbacz & Staff Writers

September 5, 2018

In After Hours Trading

IPOs on deck none of note. Secondaries of note ADC SUI.

Filings after close PETQ TLYS PRFT.

data courtesy of IPO Financial

In After Hours Trading: SURPRISES RH +.74 COUP +.14 HQY +.14 WDAY +.06 SMAR +.05. FLAT: MISSED: CAL -.01.

Lower Guidance: .

Mixed Guidance: RH COUP HQY.

Positive Guidance: SMAR.

What's Happening This Morning

U.S. futures: S&P -7, Dow Jones -82, NDX -24.50 and Russell 2000 -3.30 with fair values lower reducing losses. Asia and Europe lower.

Gold up slightly with silver lower and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 120.05 with yields slightly higher since last week. Prices as of 8:05 a.m. EDT.

Top Sectors none positive.

Weak Sectors Conglomerates, Consumer Goods and Materials.

One month winners Healthcare,Consumer Goods, Services and Technology.

Three Month Winners Healthcare, Consumer Goods, Services and Technology.

Six Month Winners Conglomerates, Services and Technology.

One Year Winners All except for Utilities.

Year To Date Conglomerates, Healthcare and Services.

Earnings Expected

Earnings due after the close (by avg. trade volume): CTRP DOCU GWRE OLLI ZS CWK CLDR.

Earnings due Thursday morning: DCI FIZZ NAV JWA GII LE BKS.

Rags & Mags: Inside Wall Street

Canadian Prime Minister Justin Trudeau will not bend on tariff issue. (CNBC)

Republicans race to prevent government shutdown drive by President Trump which could hurt mid term results. (Bloomberg)

Previews of Fear by Bob Woodward begin to make the rounds. Very negative for President Trump. (Bloomberg)

Wall Street may no longer be able to shrug off trade trouble with China. (NYT)

Progressive Democrate Pressley wins in Massachusetts beating 10 year member of Congress Michael Capuano.(WSJ)

Reported Earnings This Morning

Reported This Morning: SURPRISES SCWX +.04 HDS +.03. MISSED: . FLAT:


Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1019 stocks rise and 1863 fall on the NYSE. NASDAQ saw 1242 rise and 1762 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 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 buy. The Madison Market Timing Indicator is still invested.

YTD 55% of stocks are higher and 45% are lower. Updated 8/31/18 close.


MBA Mortgage Applications fell -0.1% versus expected drop of -1.7%.


The Bank of Canada is out with its latest interest rate decision.

Facebook, Google and Twitter to testify for Congress on influences of social media on politics.

Senate Confirmation Hearings for Supreme Court Nominee Brett Kavanaugh continue.

Federal Reserve San Francisco President John Williams to speak at 3:15 p.m. EDT.

After the close, Federal Reserve Presidents Kashari, Bostic and Williams (again) speak.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, HUBS SQM .

Barclays CEO Energy Power Conference.

Rodmen & Renshaw and H.C. Wainwright Annual Global Conference.

Credit Suisse Asian Technology Conference.

Robert W. Baird Healthcare Conference.

Wells Fargo Securities Healthcare Conference.

Citi Global Technology Conference.

Conference of Note

28th Meeting of the Diabetic Neuropathy Study Group of the European Association for the Study of Diabetes (EASD).

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan CNP  
Goldman Sachs   RHI
Morgan Stanley ANTM BP  
Deutsche Bank    
Citigroup CC Merrill Lynchp OLED  
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
William Blair    
Bernstein VOD  
Raymond James    
Piper Jaffray    
Moffet Nathanson    
Robert W. Baird    
Sun Trust RH    
Sandler O'Neil    
Keefe Bruyette    
Cantor Fitzgerald    
HSBC Securities    
William Blair    
BNP Paribas    
B. Riley    
Brean Murray    
JMP Securities    
Janney Montgomery  
Think Equity    
Cantor Fitzgerlad    
BMO Capital  
Jesup & Lamont    
Canaccord Adams    
Global Hunter    


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