Futures Deteriorating This Morning
In After Hours Trading
IPOs on deck PhasBio Pharmaceuticals (PHAS). Secondaries of note CVU.
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES NFLX +.21 ADTN +.17 LRCX +.14 CSX +.11 CREE +.10 MRTN +.02 IBM +.02. FLAT: MISSED: UAL -.01 UFPI -.07 none of note.
Lower Guidance: .
Mixed Guidance: NFLX LRCX CREE.
Positive Guidance: UAL CSX.
What's Happening This MorningU.S. futures: S&P -11 Dow Jones -110, NDX -31 and Russell 2000 -10.40 with fair values HIGHER hurting open. Asia and Europe lower as well.
Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.17 with yields flat since last yesterday. Prices as of 8:15 a.m. EDT.
Top Sectors all.
Weak Sectors none.
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): CCI KMI URI STLD AA CCK BXS CNS.
Earnings due Thursday morning: NVS TSM SAP PM BK BBT TRV ERIC BX PPG KEY NUE TXT DOV GPC ADS SNA NVR.
Rags & Mags: Inside Wall StreetThe selloff may not be over and the worst could be ahead. (CNBC)
IMF Head Christine Lagarde backs out of Saudi conference. (CNBC)
Secretary of State Mike Pompeo is in Turkey trying to piece together what happened. (CBS News)
Canada has legalized Marijuana sales, let the puffing begin. (Business Insider)
Trump Tax Cut not paying for itself yet. (NYT)
Uber and Lyft are racing to see who get public first. (NYT)
Bank of America Merrill Lynch Survey finds managers wary of global growth. (WSJ)
Reported Earnings This MorningReported This Morning: SURPRISES UNF +.41 MTB +.18 MTG +.12 USB +.02 ASML +.02. FLAT: MISSED: NTRS -.03.
Lower Guidance: none of note.
Current Morning missing: .
Mixed Guidance: UNF.
Positive Guidance: .
Yesterday saw 2507 stocks rise and 444 fall on the NYSE. NASDAQ saw 2462 rise and 612 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.
EconomicsMortgage Applications for the week fell -7.1% and were out at 7:30 a.m. EDT.
September Housing Starts are due out at 8:30 a.m. EDT and are expected to fall to 1,215,000 from 1,282,000.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT. The API Petroleum Institute Data was released at 4:30 p.m. yesterday and had a draw of 2.13 million barrels.
PoliticoFederal Reserve Open Market Committee (FOMC) minutes are due out at 2:00 p.m. EDT.
Federal Reserve Vice Chairman Randal Quarles speaks at 12:15 p.m EDT.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, TER CMRX TWLO SRRA SBRA .
BIO Investor Forum.
Conference of NoteInternational Conference on Diabetes and Endocrinology
M & A News
Key Upgrades and Downgrades
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