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Market Matters:

Futures Crawl Back To Positive From Down -11 On The S&P 500 to +4
by Geoff Garbacz & Staff Writers

September 18, 2018

In After Hours Trading

IPOs on deck none of note today but 7 on track for this week. Secondaries of note PSDO REVB.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES ORCL +.03. FLAT: MISSED: FDX -.37.

Lower Guidance: .

Mixed Guidance: FDX ORCL.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +4, Dow Jones +53, NDX +6 and Russell 2000 +4.40 with fair values lower helping gains. Asia and Europe mixed to higher.

Gold flat to up slightly with cooper and silver higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.16 with yields lower overnight. Prices as of 8:00 a.m. EDT.

Top Sectors Utilities and Materials.

Weak Sectors Services and Technology.

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): none of note.

Earnings due Monday: CPRT USAT .

Rags & Mags: Inside Wall Street

President Trump warned China not to hit back at farmers and manufacturers. (Twitter)

Commerce Secretary Wilbur Ross says China is out of bullets. (CNBC)

Salesforce (CRM) to compete with Microsft (MSFT) and powerpoint. Hint Google (GOOGL) does already. (CNBC)

China vows to retaliate. (Bloomberg)

Alibaba (BABA) Chairman Jack Ma warns trade war could last 20 years. (Bloomberg)

Flooding a big problem in North Carolina. (NYT)

Elon Musk and his company Space X to go circle the Moon with first tourist. (Google News)

HBO (T) and Netflix (NFLX) tie at the Emmy awards. (WSJ)

Reported Earnings This Morning

Reported This Morning: SURPRISES AZO +.63 GIS +.07. FLAT: MISSED: APOG -.07.

Missing: CBRL.

Lower Guidance: APOG.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1146 stocks rise and 1735 fall on the NYSE. NASDAQ saw 971 rise and 2059 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 moved to cash last week. The Madison Market Timing Indicator is still invested.

YTD 55% of stocks are higher and 45% are lower. Updated 9/14/18 close.

Economics

NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to fall to 66 from 67.

Politico

The United Nations General Assembly reconvenes for the fall session.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, MB DHR JAZZ BWA DVMT BRO RACE RAVN MBFI.

Janney Montgomery Scott Healthcare Conference.

Conference of Note

IBC 2018.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan   RHT
Goldman Sachs MRVl  
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp   PRI
Merrill Lynch MD LB UHS  
Wachovia/Wells Fargo TRGP  
Credit Suisse   ESRX
Banc of America    
UBS    
Stifel    
Cowen MU  
Jefferies    
Stephens    
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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