In After Hours Trading
IPOs on deck 5 due out this week. Secondaries of note CAG STNG.
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES none of note. FLAT: MISSED: none of note.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What's Happening This MorningU.S. futures: S&P -3 Dow Jones -17, NDX -20 and Russell 2000 -2.70 with fair values lower helping to lessen the pain. Asia higher and Europe lower as well.
Gold, silver and copper down slightly. WTI Crude and Brent Oil Futures down slightly. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 117.70 with yields lower since Tuesday morning. Prices as of 8:00 a.m. EDT.
Top Sectors Utilities and Materials.
Weak Sectors Industrials 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 ExpectedEarnings due after the close (by avg. trade volume): none of note.
Earnings due Thursday morning: WBA DAL CBSH LNN.
Rags & Mags: Inside Wall StreetTreasury Secretary Mnuchin warns Chinese not to devalue currency. (CNBC)
Hurricane Michael to be a monster. (CNN)
Sears sets up bankruptcy filing. (WSJ)
Michael Bloomberg moves back to the Democratic Party. (CNBC)
Tesla (TSLA) debt comes due in 143 days. (Bloomberg)
Trump's trade victories not helping businesses and farmers. (NYT)
Slack CEO interviewed on how he moves away from email. (WSJ)
Reported Earnings This MorningReported This Morning: SURPRISES FAST +.02. FLAT: MISSED: .
Missing: none of note.
Lower Guidance: none of note.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Yesterday saw 1408 stocks rise and 1505 fall on the NYSE. NASDAQ saw 1309 rise and 1729 fall.
The SP 500 is barely 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 Mortgage Applications came out at 7:00 p.m. EDT and fell -1.7%.
September PPI is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from -0.1%.
The API Petroleum Institute Weekly Update will be out after the close at 4:30 p.m. as we reported it yesterday being out Tuesday but was moved due to the holiday.
PoliticoFederal Reserve New York President John Williams speaks at 10:35 a.m. EDT.
Federal Reserve Chicago President Charles Evans speaks at 12:15 p.m. EDT.
Federal Reserve Minneapolis President Raphael Bostic and New York President John Williams to speak at 6:00 and 7:15 p.m. EDT.
President Trump t.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, COST NGTF ICLR GVA REZI HON SAFM .
Conference of Note
M & A NewsTransDigm (TDG) to buy Esterline (ESL) for $4 billion or $122.50 in cash.
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