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Market Matters:

Futures Higher This Morning After Ugly Monday
by Geoff Garbacz & Staff Writers

September 25, 2018

In After Hours Trading

IPOs on deck none of note. Secondaries of note CWEN DLR LGCY OPMT VIOT.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES ASNA +.05. FLAT: MISSED: none.

Lower Guidance: .

Mixed Guidance: ASNA.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +6.75 Dow Jones +76, NDX +12.25 and Russell 2000 +4.80 with fair values lower adding to gains. Asia and Europe higher.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 118.48 with yields higher since last Friday. Prices as of 9:30 a.m. EDT.

Top Sectors Materials, conglomerates and healthcare.

Weak Sectors Industrials and fiancials.

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): AIR CTAS KBH NKE.

Earnings due tomorrow morning: ATU KMX DAVA OMN USAT WOR.

Rags & Mags: Inside Wall Street

Facebook (FB) loses Instagram founders. (CNBC)

China plays the victim in tariff dispute. (CNBC)

Wisdom Tree Bull Jeremy Siegel would not be surprised by a correction. (CNBC)

Oil rise may be temporary. (Bloomberg)

Qualcomm (QCOM) accuses Apple (AAPL) of sending proprietary information to Intel (INTC). (WSJ)

Red Sox break franchise win record. (USA Today)

Reported Earnings This Morning

Reported This Morning: SURPRISES INFO +.03 JBL +.02. FLAT: MISSED: FDS -.01 MANU -.02.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: INFO.

Positive Guidance: .

Data Points

Yesterday saw 912 stocks rise and 1952 fall on the NYSE. NASDAQ saw 1187 rise and 1851 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 9/21/18 close.


September Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 131 from 133.40.

The latest NYSE and NASDAQ short interest data is due out after the close and covers the period from August 29th through September 12th. During this period, the S&P 500 fell -0.86%.

The Treasury holds a 5 year auction at 1:00 p.m. $38 Billion to be offered.


President Trump to address the United Nations General Assembly today at 10:15 a.m. EDT.

Bank of Japan (BOJ) minutes out this morning before the open.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, AFL TNDM TOT.

Bank of America Financials & Banking CEO Conference.

Conference of Note

M & A News

Inspire to buy Sonic Corp (SONC) for $43.50 a share.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan   DFIN
Goldman Sachs    
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse   SIRI
Banc of America    
Jefferies SAIC  
Needham BELFB  
Raymond James   MMC INTC
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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