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Market Matters:

Futures Modestly Lower
by Geoff Garbacz & Staff Writers

September 19, 2018

In After Hours Trading

IPOs on deck X Financial (XYF). Secondaries of note ARGX GTHX IZEA REVB .

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES none. FLAT: MISSED: none.

Lower Guidance: .

Mixed Guidance: FDX ORCL.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -3.25, Dow Jones -5, NDX -10 and Russell 2000 -3.60 with fair values lower helping gains. Asia lower and Europe mixed.

Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 118.80 with yields lower overnight. Prices as of 8:00 a.m. EDT.

Top Sectors materials, Industrials and Services.

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): MLHR RHT.

Earnings due tomorrow morning: DRI LEN SCHL THO.

Rags & Mags: Inside Wall Street

Pot stock TLRY which has been on a run is up 50% in premarket, talk about a high. (CNBC)

United Airlines (UAL) to try a new boarding policy. (CNBC)

GOP rejects Kavanaugh accuser bit to bring in the FBI. (Bloomberg)

North Korean efforts stops short of denuclearization. (NYT)

Facebook (FB) job ads show bias against women. (NYT)

Reported Earnings This Morning

Reported This Morning: SURPRISES . FLAT: MISSED: .

Missing: CPRT.

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1632 stocks rise and 1275 fall on the NYSE. NASDAQ saw 1762 rise and 1242 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

August Housing Index is due out at 8:30 a.m. EDT and is expected to rise to 1,229,000 from 1,168,000.

Politico

The Bank of Japan (BOJ) is out with its latest announcement with interest rate update, and no change was made.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, UNP.

Janney Montgomery Scott Healthcare Conference.

Conference of Note

IBC 2018.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan   LYB
Goldman Sachs    
Morgan Stanley SIR  
Deutsche Bank    
Citigroup CC Merrill Lynchp   PAH
Merrill Lynch    
Wachovia/Wells Fargo RIG  
Credit Suisse SPWR
Banc of America    
UBS    
Stifel    
Cowen    
Jefferies ETFC  
Stephens    
Needham    
Raymond James   CABO
Stifel    
Piper Jaffray    
Nomura JNPR  
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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