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 In Free Fall
by Geoff Garbacz & Staff Writers

October 23, 2018

In After Hours Trading

IPOs on deck 6 for this week. Secondaries of note EIGR.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES CR +.16 LOGI +.16 ZION +.08 CDNS +.08 AMTD +.04 BRO +.04. FLAT: MISSED: SLM -.01 MC -.01 SPN -.02.

Lower Guidance: .

Mixed Guidance: HNI AMTD HXL SLM IBTX.

Positive Guidance: CR CDNS ACC.

What's Happening This Morning

U.S. futures: S&P -41 Dow Jones -427, NDX -127 and Russell 2000 -17 with fair values LOWER helping open. Asia and Europe lower.

Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 118.383 with yields slightly higher since last Friday. Prices as of 8:15 a.m. EDT.

Top Sectors Conglomerates, Services and Technology.

Weak Sectors Financials, Healthcare and Industrials.

One month winners Utilities and Conglomerates.

Three Month Winners Utilities and Healthcare.

Six Month Winners Healthcare, Conglomerates, Services and Utilities.

One Year Winners Services, Healthcare and Materials.

Year To Date Conglomerates, Healthcare and Services.

Earnings Expected

Earnings due after the close (by avg. trade volume): TXN CNI CB ILMN COF EW EQR AMP TSS CSGP JNPR RH TER of note.

Earnings due Wednesday morning: BA UPS TMO GD NOC BSX NSC ITW ALXN SIRI APH IR HLT DTE LH FCX of note.

Rags & Mags: Inside Wall Street

Bespoke Research says 75% of companies trading lower on earnings results despite beats across the board. (CNBC)

Turkey's Erdogan says Khashoggi death was planned by the Saudis. (NYT WSJ)

Stocks set for big loss on earnings misses and weakness in Asia and Europe. (CNBC)

Former Federal Reserve Chairman Paul Volcker sees a "mess everywhere" as it relates to government and markets as his memoir to hit stores soon. (NYT)

Reported Earnings This Morning

Reported This Morning: SURPRISES ARCH +3.33 LMT +.83 BIIB +.64 HOG +.24 ALKS +.15 UTX +.11 MCD +.11 HUBB +.11 XRX +.07 PHM +.07 GLW +.03 VZ +.03. FLAT: MISSED: FITB -.02 ATI -.02 AVY -.02 MMM-.11 SLCA -.17.

Missing: .

Lower Guidance: WAT MMM.

Current Morning missing: .

Mixed Guidance: ALKS TRU CNC DGX.

Positive Guidance: LMT GLW.

Data Points

Yesterday saw 1171 stocks rise and 1774 fall on the NYSE. NASDAQ saw 1309 rise and 1747 fall.

The SP 500 is now well below its 50 day exponential moving average and is now 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

None of note. Releases are back ended loaded with all releases Wednesday through Friday.

Treasury Auction of 2 years at 1:30 p.m. EDT.

Politico

Federal Reserve Atlanta President Raphael Bostic spoke overnight.

Federal Reserve Minneapolis President Neel Kashkari speaks at 9:30 a.m. EDT.

Federal Reserve Chicago President Charles Evans to speak at 6:15 p.m. EDT

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, PRTK NTAP.

Conference of Note

American College of Rheumotology Annual Meeting.

European Society For Medical Clinical Oncology Conference.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs    
Morgan Stanley    
Deutsche Bank    
Citigroup CC Merrill Lynchp LOW  LBRT 
Merrill Lynch   STAY INN 
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Deutsche Bank    
Barclays    
Jefferies KALU   
Stifel    
Needham    
Raymond James    
Stephens    
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..