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Market Matters:

Futures Up Slightly As The S&P 500 Holds Above 2900
by Geoff Garbacz & Staff Writers

September 27, 2018

In After Hours Trading

IPOs on deck Arvinas Holding (ARVN) Laix (LAIX) RA Medical Systems (RMED) Sutro Biopharma (STRO) Urovant Sciences (UROV). Secondaries of note BJ PETQ.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES CMTL +.05. FLAT: MISSED: BBBY -.15 FUL -.04.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +3 Dow Jones +17, NDX +22 and Russell 2000 +2.10 with fair values flat. Asia higher and Europe lower.

Gold, silver and copper modestly lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.84 with yields lower since last Friday. Prices as of 8:00 a.m. EDT.

Top Sectors Services and Healthcare.

Weak Sectors Financials, Utilities and Materials.

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): PRGS CAMP.

Earnings due tomorrow morning: MTN BB.

Rags & Mags: Inside Wall Street

Reported Earnings This Morning

Reported This Morning: SURPRISES SCHL +.19 ACN +.02 MKC +.01. FLAT: MISSED: ANGO -.02 CAG -.02.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: ACN MCK ANGO CAG RAD.

Positive Guidance: .

Data Points

Yesterday saw 1069 stocks rise and 1797 fall on the NYSE. NASDAQ saw 1127 rise and 1886 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 below its 50 day moving exponential average but is above 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. 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 Durable Goods is due out at 8:30 a.m. EDT and is expected to rise to 1.80% from -1.70%.

GDP Q2 (third estimate) is due out at 8:30 a.m. EDT and is expected to rise to 4.3% from 4.20%.

$31 Billion 7 year auction at 1:00 p.m. EDT.

Politico

Supreme Court Nominee Brett Kavanaugh will testify today about sexual abuse claims starting at 10:00 a.m. EDT.

President Trump to meet with Deputy Attorney General Rod Rosenstein after the Kavanaugh hearing, approximately 12:00 p.m. EDT.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, PFG CNAT SIGA ACXM NXTD INTU TDOC.

Sidoti Fall Conference.

Barrington Research Fall Conference.

Wells Fargo Consumer Conference & Beauty Forum.

Conference of Note

Denver Gold Forum

European Conference on Optical Communication

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan AAPL  
Goldman Sachs    
Morgan Stanley CYBR  
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch    
Wachovia/Wells Fargo LXP  
Credit Suisse    
Banc of America    
UBS    
Stifel    
Cowen AYR  
Jefferies JCAP  
Stephens    
Needham    
Raymond James NEWT  
Northland   AMD
Loop Capital   AAOI
Nomura    
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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