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Market Matters:

Futures Higher This Morning After Fading Tuesday
by Geoff Garbacz & Staff Writers

September 26, 2018

In After Hours Trading

IPOs on deck Arco Platform (ARCE) Capital Bancorp (CBNK) Entasis Therapeutics (ETTX) Survey Monkey (SVMK). Secondaries of note AINC ANAB CBNK CNP CONE FPAY .

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES CTAS +.13 KBH +.10 NKE +.04 AIR +.02. FLAT: MISSED: none.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +5.75 Dow Jones +43, NDX +18 and Russell 2000 +2.80 with fair values lower adding to gains. Asia higher and Europe mixed.

Gold, silver and copper modestly lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.55 with yields higher since last Friday. Prices as of 9:30 a.m. EDT.

Top Sectors Conglomerates, Materials and Services.

Weak Sectors Utilities and Consumer Goods.

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): FUL BBBY CMTL.

Earnings due tomorrow morning: ACN CCL MKC CAG CMD SCHL RAD ANGO.

Rags & Mags: Inside Wall Street

Federal Reserve expected to raise interest rates and more on the horizon. (CNBC)

Senate Judiciary Committee to vote on Kavanaugh one day after testimony. (CNBC)

Goldman says no way to $100 oil. (Bloomberg)

India decides not to buy oil from Iran. Will China? (Bloomberg)

Trump throws globalism under the bus at U.N. (NYT)

As debt rises, U.S. could spend more on debt than military. (NYT)

Slow wage growth due to more benefits. (NYT)

Trade deal may proceed without Canada. (WSJ)

Reported Earnings This Morning

Reported This Morning: SURPRISES KMX +.01. FLAT: MISSED: WOR -.10 OMN -.04.

Missing: ATU DAVA USAT.

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1255 stocks rise and 1638 fall on the NYSE. NASDAQ saw 1491 rise and 1484 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.

Economics

August New Home Sales is due out at 10:00 a.m. EDT and is expected to rise to 630,000 from 627,000.

Weekly Crude Oil Inventories due out at 10:30 a.m. EDT. Yesterday the API Petroleum Institute

Politico

The Federal Reserve Open Market Committee (FOMC) is out with their latest announcement with interest rate update and a rate increase is expected.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, PRU ATIS ATNM CRM BPY BBU.

CIBC Institutional Conference.

Berenberg & Goldman Sachs German Corporate Conference.

Conference of Note

Denver Gold Forum

European Conference on Optical Communication

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs MTB  
Morgan Stanley LNG COG
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch   PAYC SYF
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Stifel    
RBC    
Jefferies   CHEF
Stephens    
Needham    
Raymond James    
B. Riley VIAB  
Piper Jaffray    
Nomura   DWDP
Moffet Nathanson    
Robert W. Baird    
Cowen    
Sun Trust RH   MANH
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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