Superstock Investor
Member Login   RSS ->
James DiGeorgia, Mr. Macro
- Chief Editor -
Mr. Macro
Geoff Garbacz, Mr. Micro
- Chief Strategist -
Mr. Micro
Dan Hassey, Mr. Retirement
- Senior Stock Analyst -
Mr. Retirement
Superstock Investor


[Printable Version of This Page]

Market Matters:

Futures Deteriorating This Morning
by Geoff Garbacz & Staff Writers

October 17, 2018

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 Morning

U.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 Expected

Earnings 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 Street

The 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 Morning

Reported This Morning: SURPRISES UNF +.41 MTB +.18 MTG +.12 USB +.02 ASML +.02. FLAT: MISSED: NTRS -.03.

Missing: .

Lower Guidance: none of note.

Current Morning missing: .

Mixed Guidance: UNF.

Positive Guidance: .

Data Points

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.

Economics

Mortgage 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.

Politico

Federal 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 Meetings

Meetings, Conference Calls or Announcements of note, TER CMRX TWLO SRRA SBRA .

BIO Investor Forum.

Conference of Note

International Conference on Diabetes and Endocrinology

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan NMM   
Goldman Sachs PSTG   
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp   NK 
Merrill Lynch   VMC WBC 
Wachovia/Wells Fargo    
Credit Suisse BKH  KBH HD LOW 
Banc of America    
UBS    
Stifel    
Piper Jaffray AKRX   
Jefferies   SND 
Nomura    
Needham    
Raymond James    
Northland    
Loop Capital    
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    

 

Market Matters Archives

FREE SERVICES

Morning Briefing

Get the information you need to make profitable decisions first thing in the morning. Access to the information is FREE, not knowing it could cost you a bundle!

SUBSCRIBER SERVICES

Superstock Investor Newsletter

Published once a month. Get the big picture, what happened last month and predictions for the month ahead.

Investors Edge

Take advantage of the knowledge provided by people who live to monitor the Stock Market. People like:

  • Phil Erlanger
  • Tom McClellian
  • Mohan
  • Geoff Garbacz
  • Steve Weintz

Get access to information from publications like:

  • The Kiplinger Letter
  • The Agile Trader
  • McClellan Market Report
  • Gold and Energy Options Trader
  • Mohan's Market Force

***

Not a Subscriber?

[Superstock Investor Newsletter]

Superstock Investor's goal is to provide subscribers a steady stream of original stock ideas with an emphasis on takeover candidates. These are companies that have flown onto our radar screens as potential takeover targets, or special situations with some catalyst promising to send their shares soaring. Continue..