Futures Lower On China Chip News
In After Hours Trading
IPOs on deck Guardian Health (GH) Kodiak Services (KOD). Secondaries of note AZRE MLVF SIR.
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES . FLAT: MISSED: .
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What's Happening This MorningU.S. futures: S&P -10 Dow Jones -82, NDX -39 and Russell 2000 -9 with fair values lower helping to lessen the pain. Asia weaker with Europe mixed.
Gold, silver and copper flat to up modestly. WTI Crude and Brent Oil Futures mixed to lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 117.72 with yields higher since Wednesday morning. Prices as of 8:00 a.m. EDT.
Top Sectors Financials, Materials, Industrials and Technology.
Weak Sectors Utilities.
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 ExpectedEarnings due after the close (by avg. trade volume): COST SGH.
Earnings due tomorrow morning: none of note.
Rags & Mags: Inside Wall StreetChina puts chips on motherboards to spy on U.S. data centers. (Bloomberg)
Kavanaugh FBI Report out and vote before the weekend. (CNBC and others)
Federal Reserve Chairman Powell says a long way from neutral on interest rates. (CNBC)
Bond bears celebrating as yields rise. (Bloomberg)
U.S. to show China force with naval exercises. (Bloomberg)
NY Times attacks President Trump over wealth transfer 30 years ago. Seriously? (NYT)
Democrats split on future of Medicare. (WSJ)
China to sell $3 billion of U.S. debt. (WSJ)
Hedge fund Highfields to return money and convert to family office. (WSJ)
Reported Earnings This MorningReported This Morning: SURPRISES ISCA +.05. FLAT: MISSED: .
Lower Guidance: ISCA.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Yesterday saw 1436 stocks rise and 1517 fall on the NYSE. NASDAQ saw 1899 rise and 1166 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 51% of stocks are higher and 49% are lower. Updated 9/28/18 close.
EconomicsWeekly Jobless Claims are due out at 8:30 a.m. EDT.
August Factory Orders is due out at 10:00 a.m. EDT and is expected to rise to 1.80% from -0.80%.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
PoliticoVice President Mike Pence to speak at 11:00 a.m. EDT on Chinese influence on the election process in the U.S.
Federal Reserve Vice Chairman Randall Quarles speaks at 10:00 a.m. EDT.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, LLY VEEV RIGL TRC HZNP KRNT TRN DRIO CCOI JEF ARNA BB SRPT.
Wolfe Utilities & Power Conference
B. Riley Consumer & Media Conference
Conference of NoteFireEye Cyber Summit
M & A News
Key Upgrades and Downgrades
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