Futures Weak For A Second Day
In After Hours Trading
IPOs on deck Osmotica Pharmaceuticals (OSMT), PhasBio Pharmaceuticals (PHAS) and Studio City International (MSC). Secondaries of note ACRS GMO VJET.
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES AA +.29 URI +.19 CCK +.06 UMPQ +.04 TBK +.04 CCI +.04 STLD +.03 CNS +.02. FLAT: MISSED: KALU -.12 TCBI -.03.
Lower Guidance: CCK.
Mixed Guidance: CCI URI.
Positive Guidance: UAL CSX.
What's Happening This MorningU.S. futures: S&P -10 Dow Jones -76, NDX -35 and Russell 2000 -6 with fair values LOWER hurting open. Asia and Europe lower as well.
Gold,silver and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 117.89 with yields flat since last yesterday. Prices as of 8:15 a.m. EDT.
Top Sectors Financials and Healthcare.
Weak Sectors Basic Materials and Industrials along with Technology.
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): PYPL AXP ISRG CE ETFC ATHN OZK SKX.
Earnings due Friday morning: PG HON SLB VFC STT STI RCI SYF CFG KSU IPG GNTX MAN IBKC CLF.
Rags & Mags: Inside Wall StreetUber raised $2 billion in a sale of bonds as it looks to IPO in 2019. (Financial Times)
Constellation Brands (STZ) to step down in March. (CNBC)
Housing stocks having worst year since 2008. (CNBC)
Treasury stops short of calling China a currency manipulator. (NYT)
Trump stresses to stay aligned with Saudis despite Khashoggi incident. (WSJ)
Reported Earnings This MorningReported This Morning: SURPRISES ERIC +.54 TRV +.28 PM +.15 DOV +.07 POOL +.07 ADS +.07 SAP +.05 DHR +.03 EWBC +.03 BK +.02 TSM +.02 SNA +.02. FLAT: MISSED: .
Lower Guidance: none of note.
Current Morning missing: .
Mixed Guidance: WBC DHR .
Positive Guidance: POOL.
Yesterday saw 1069 stocks rise and 1815 fall on the NYSE. NASDAQ saw 1260 rise and 1749 fall.
The SP 500 is now well below its 50 day exponential moving average and is back above 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.
EconomicsWeekly Jobless Claims are due out at 8:30 a.m. EDT.
September Leading Indicators are due out at 10:00 a.m. EDT and are expected to rise to 0.5% from 0.4%.
The Philadelphia Fed Manufacturing Business Outlook Survey is due out and is expected to fall to 20 from 22.90.
Weekly Natural Gas inventories are due out at 10:30 a.m. EDT.
PoliticoFederal Reserve St. Louis President James Bullard speaks on monetary policy today (no specific time yet, check my Twitter handle Bullet86).
Federal Reserve Vice Chairman Randal Quarles speaks at 12:00 p.m EDT to the New York Economics Club.
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, NSRGY AXSM NEWR.
BIO Investor Forum.
Conference of NoteNorth American Cycstic Fibrosis Conference.
M & A News
Key Upgrades and Downgrades
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