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Market Matters:

Futures Flat For Wednesday
by Geoff Garbacz & Staff Writers

September 12, 2018

In After Hours Trading

IPOs on deck Nio Inc. (NIO) and 111 Inc. (YI). Secondaries of note CADE ECYT FRC HRTX NLY NVTR PACB .

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES . FLAT: MISSED: FARM -.12.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P 0.25, Dow Jones +2, NDX +9.25 and Russell 2000 -3.30 with fair values lower reducing losses. Asia lower and Europe mixed.

Gold and silver lower and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 119.44 with yields higher since Tuesday. Prices as of 7:05 a.m. EDT.

Top Sectors Materials, Services and Technology.

Weak Sectors Utilities.

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): PVTL SAIC OXM.

Earnings due Thursday morning: KR BRC.

Rags & Mags: Inside Wall Street

Coastal residents flee the Carolinas in front of Hurricane Florence. (CNBC)

Crypto 80% drop is worse than tech crash. (Bloomberg)

Las Vegas housing boom is back. (NYT)

Then Bank of England (BOE) Head Mark Carney will stay through 2020. (NYT)

Businesses ramp up lobbying efforts against Trump tariffs. (WSJ)

Nielsen (NLSN) explores spinoff or sale. (WSJ)

Reported Earnings This Morning

Reported This Morning: SURPRISES . FLAT: MISSED: .

Missing: USAT.

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1485 stocks rise and 1373 fall on the NYSE. NASDAQ saw 1381 rise and 1593 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 moves to cash today. The Madison Market Timing Indicator is still invested.

YTD 55% of stocks are higher and 45% are lower. Updated 9/7/18 close.

Economics

August PPI is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from 0.1%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

The latest short interest data for the NYSE and NASDAQ is due out after the close.

Politico

The Federal Reserve Beige Book is out with its latest update at 2:00 p.m. EDT.

OPEC Monthly Update due out this morning.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, ITKG TMUS VFC OCFC AOI NWY FTDR MBUU BB.

Apple (AAPL) holds a meeting to review its new products for the fall and is recently peaked. Could this be a case of buy the rumor and sell the news?

Morgan Stanley Healthcare Conference.

Credit Suisse Global Steel and Mining Conference.

Raymond James North American Equities Conference.

Conference of Note

The Annual ECIM International E&P Data and Information Management Conference and User Meeting.

Gartner Security & Risk Conference.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs TERP ATI LRCX MU
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Stifel    
William Blair    
Jefferies    
Stephens   CHUY DENN TXRH
Needham    
Raymond James    
Stifel    
Piper Jaffray    
Bernstein    
Moffet Nathanson    
Robert W. Baird    
Cowen    
Sun Trust RH    
MKM    
Sandler O'Neil    
Keefe Bruyette    
Cantor Fitzgerald    
CIBC    
Dresnder    
Nomura    
HSBC Securities    
Cowen  
William Blair    
BNP Paribas    
B. Riley    
Kaufman  
Brean Murray    
JMP Securities    
Wedbush    
Argus    
CLSA    
BB&T    
ING    
Roth    
Janney Montgomery  
Susquehanna    
Think Equity    
Merriman    
Cantor Fitzgerlad    
BMO Capital  
Benchmark    
Jesup & Lamont    
Macquarie    
Canaccord Adams    
Evercore    
MKM    
Bernstein    
CLSN    
Guggenheim    
Auriga    
Stephens    
BTIG    
Global Hunter    

 

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