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Market Matters:

Futures Rebounding
by Geoff Garbacz & Staff Writers

October 19, 2018

In After Hours Trading

IPOs on deck LogicBio Therapeutics (LOGC) NIU Technologies (NIU) SolawWinds (SWI). Secondaries of note AKTS INAP KRYS.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES WDFC +.50 CE +.22 ISRG +.17 ETFC +.17 AXP +.11 SKX +.07 WERN +.06 PYPL +.04 CP+.02 TEAM +.01. FLAT: MISSED: ASB -.01 OZK -.33.

Lower Guidance: .

Mixed Guidance: WDFC TEAM LLNW .

Positive Guidance: CE AXP SKX EGP .

What's Happening This Morning

U.S. futures: S&P +10 Dow Jones +105, NDX +46 and Russell 2000 +6 with fair values LOWER helping open. Asia higher and Europe mixed.

Gold,silver and copper up fractionally. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.03 with yields lower since yesterday. Prices as of 8:15 a.m. EDT.

Top Sectors all negative.

Weak Sectors all negative.

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): none of note.

Earnings due Monday morning: PHG KMB HAL HAS LII PII TCF BOH PETS.

Rags & Mags: Inside Wall Street

President Trump and Chinese President Xi Jinping to meet at G-20 on November 30. (South China Morning Post)

China GDP 6.5% which is weaker than recent report but good enough to rally stocks in China. (Bloomberg)

J.P. Morgan Quant Team calls for stabilization today and a rebound next week. (CNCB)

Mega Millions Jackpot worth $970 Million and Powerball at $430 million. Good Luck tonight and tomorrow night!! (USA Today)

Reported Earnings This Morning

Reported This Morning: SURPRISES STI +.17 SYF +.11 VFC +.10 IBKC +.06 HON +.04 RCI +.04 CFG +.03 PG +.03 MAN +.02 IPG +.02 SLB +.01. FLAT: MISSED: STT -.02.

Missing: .

Lower Guidance: none of note.

Current Morning missing: .

Mixed Guidance: MAN.

Positive Guidance: VFC.

Data Points

Yesterday saw 667 stocks rise and 2239 fall on the NYSE. NASDAQ saw 709 rise and 2319 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.


September Existing Home Sales are due out at 10:00 a.m. EDT and are expected to fall to 5,290,000 from 5,340,000.


Federal Reserve Minneapolis President Raphael Bostic speaks at 11:30 a.m. EDT.

Federal Reserve Dallas President Rob Kaplan to speak at 12:45 p.m. EDT

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, SCHW MRIC SLB .

Conference of Note

European Society For Medical Clinical Oncology Conference

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs IMO DXCM  
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp AEO  
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
Deutsche Bank    
Barclays DIS  
Stifel   EBAY
Raymond James    
Loop Capital    
Moffet Nathanson    
Robert W. Baird    
Sun Trust RH    
Sandler O'Neil    
Keefe Bruyette    
Cantor Fitzgerald    
HSBC Securities    
William Blair    
BNP Paribas    
B. Riley    
Brean Murray    
JMP Securities    
Janney Montgomery  
Think Equity    
Cantor Fitzgerlad    
BMO Capital  
Jesup & Lamont    
Canaccord Adams    
Global Hunter    


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