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Market Matters:

Futures Positive This Morning
by Geoff Garbacz & Staff Writers

October 16, 2018

In After Hours Trading

IPOs on deck none of note and 11 IPOs this week. Secondaries of note PTLA.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES JBHT +.08. FLAT: MISSED: none of note.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +15 Dow Jones +146, NDX +57 and Russell 2000 +8.40 with fair values HIGHER hurting open. Asia and Europe bouncing as well.

Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 118.14 with yields flat since last Friday morning. Prices as of 8:35 a.m. EDT.

Top Sectors Conglomerates, Utilities and Industrials.

Weak Sectors Technology, Healthcare and Financials led the way lower.

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): NFLX IBM CSX LRCX UAL IBKR CREE ADTN TACO.

Earnings due Wednesday morning: ABT USB ASML MTB NTRS MTG SVU BMI WGO.

Rags & Mags: Inside Wall Street

Larry Fink CEO of Blackrock (BLK) noted that investors cautious before last week in an interview this morning on the network. (CNBC)

Mega Millions prize is the 4th largest ever at $654 million draws tonight. (CNBC)

China may have $5.8 trillion of hidden debt. (Bloomberg)

Investors turn most bearish since the crash of 2007 to 2008. (Bloomberg)

Uber eyes IPO valuation of $120 billion for 2019. (WSJ)

Walmart (WMT) to open only 10 new stores as it seeks to build on e-commerce. (WSJ)

Secretary of State Mike Pompeo in Saudi Arabia to find out what happened to Khashoggi. (NYT)

Reported Earnings This Morning

Reported This Morning: SURPRISES GS +.94 BLK +.66 DPZ +.20 GWW +.20 MS +.16 OMC +.11 UNH +.11 CMA +.08 PACW +.02 JNJ +.02 PLD +.01. FLAT: MISSED: .

Missing: FHN PGR.

Lower Guidance: none of note.

Current Morning missing: .

Mixed Guidance: JNJ PLD.

Positive Guidance: .

Data Points

Yesterday saw 1726 stocks rise and 1184 fall on the NYSE. NASDAQ saw 1674 rise and 1397 fall.

The SP 500 is now well below its 50 day exponential moving average and is just below its 200 day exponential moving average. The Russell 2000 is below its 50 day moving exponential average and 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 41% of stocks are higher and 59% are lower. Updated 10/12/18 close.

Economics

September Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to 0.2% from 0.4%.

Politico

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, ARWR ANDE MRVL CERS WMT CYTK FTS NTTYY.

Conference of Note

International Conference on Diabetes and Endocrinology

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs    
Morgan Stanley GOV   
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Stifel    
Piper Jaffray    
Jefferies OKE  PF 
Nomura    
Needham CGNX TPR   
Raymond James    
Northland    
Loop Capital    
Nomura    
Moffet Nathanson    
Robert W. Baird    
Cowen    
Sun Trust RH NDLS   
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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