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Market Matters:

Futures Higher This Morning
by Geoff Garbacz & Staff Writers

September 20, 2018

In After Hours Trading

IPOs on deck Bank 7 Corp (BSVN), Eventbrite (EB) and Elanco Animal Health (ELAN). Secondaries of note none on deck.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES MLHR +.04 RHT +.03. FLAT: MISSED: none.

Lower Guidance: .

Mixed Guidance: MLHR RHT.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +6.50, Dow Jones +79, NDX +24.75 and Russell 2000 +3.30 with fair values lower helping gains. Asia mixed to lower and Europe higher.

Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures mixed. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 118.56 with yields higher overnight. Prices as of 8:00 a.m. EDT.

Top Sectors Financials, Materials and Conglomerates.

Weak Sectors Utilties.

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): MU SCS UNFI.

Earnings due tomorrow morning: none of note.

Rags & Mags: Inside Wall Street

President Trump tweets that OPEC needs to drop prices. (Twitter)

President Trump tweets on money for the wall and border security. (Twitter)

46% of CFOs say biggest risk is a slowing consumer. (CNBC)

Hedge fund manager Jeffrey Gundlach warns that U.S. yields to move higher. (Reuters)

Tilray (TLRY) shares active agains today. (Bloomberg)

EU looking at Amazon and antitrust issues. (NYT)

Reported Earnings This Morning

Reported This Morning: SURPRISES DRI +.10. FLAT: MISSED: THO -.37.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: DRI.

Positive Guidance: .

Data Points

Yesterday saw 1273 stocks rise and 1630 fall on the NYSE. NASDAQ saw 1464 rise and 1532 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 53% of stocks are higher and 47% are lower. Updated 9/14/18 close.

Economics

Philadelphia Federal Reserve Manufacturing is due out at 8:30 a.m. EDT and is expected to rise to 15.3 from 11.9.

August Existing Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 5.37 million from 5.34 million.

August Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 0.5% from 0.6%.

Weekly Jobless Claims due out At 8:30 a.m. EDT.

Weekly Natural Gas Inventories due out at 10:30 a.m. EDT.

Politico

The European Union holds meetings that begin today in Austria and main topic will be Brexit.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, RMD GWRE GPRO WK CPA ATH DOVA.

Janney Montgomery Scott Healthcare Conference.

Conference of Note

IBC 2018.

M & A News

Fox (FOXA) and Comcast (CMCSA) to hold one day auction for Sky assets.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs    
Morgan Stanley   BRKR
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch FBP FTNT
Wachovia/Wells Fargo    
Credit Suisse  
Banc of America    
UBS    
Stifel    
RBC RDC DO RIG HP COP
Jefferies    
Stephens    
Needham    
Raymond James    
Stifel    
Piper Jaffray    
Nomura    
Moffet Nathanson    
Robert W. Baird CAT  
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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