Futures Rebounding Off Overnight Lows
In After Hours Trading
IPOs on deck Alberton Acquisition (ALACU) Alzheon (ALZH). Secondaries of note PTI.
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES IRBT +.65 WRB +.42 AMP +.37 ILMN +.26 COF +.25 LRN +.20 JNPR +.10 TER +.08 TSS +.07 TXN +.05 EW +.04 CNI +.03. FLAT: MISSED: SIX -.16 CSL -.05 VAR -.04.
Lower Guidance: TXN .
Mixed Guidance: IRBT JNPR TSS EW.
Positive Guidance: LRN ILMN TER.
What's Happening This MorningU.S. futures: S&P -3 Dow Jones +73, NDX +2 and Russell 2000 -1.50 with fair values LOWER helping open. Asia lower and Europe higher.
Gold and silver lower with copper higher. WTI Crude higher and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.45 with yields slightly higher since yesterday. Prices as of 8:15 a.m. EDT.
Top Sectors Consumer Goods.
Weak Sectors Materials, Industrials and Conglomerates.
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 ExpectedEarnings due after the close (by avg. trade volume):MSFT V VRTX LVS AFL F SRE NOW ORLY ALGN AMD XLNX ABX EFX CTXS UNM of note.
Earnings due Thursday morning: MRK BUD CMCSA MO UNP BMY COP SPG CME CELG SPGI PX MMC VLO SHW WMLUV MCK of note.
Rags & Mags: Inside Wall StreetApple (AAPL) pushes for strong privacy laws like in Europe. (CNBC)
President Trump in an interview with The Wall Street Journal attacked the Federal Reserve and its Chairman Jerome Powell. (WSJ)
Winning Mega Million Ticket for $1.6 Billion sold in South Carolina. (USA Today)
Wells Fargo Mike Mayo says time to be all in on banks and upgrades Morgan Stanley (MS).
Social Security taxes may rise in 2019. (USA Today)
The European Union (EU) told Italy to rewrite budget or face stiff fines. Was out yesterday after our production and needs to be followed closely.(NYT)
Reported Earnings This MorningReported This Morning: SURPRISES NOC +2.08 SCHN +1.11 DTE +.39 ALXN +.28 GD +.12 BA +.11 TUP +.09 GRA +.09 NSC +.08 IR +.04 FCX +.03. FLAT: MISSED: LH -.15 ITW -.12 OC -.11 CRS -.09 UMC -.07.
Lower Guidance: HLT STM.
Current Morning missing: .
Mixed Guidance: LAD ALXN SLAB BSX BABY LH.
Positive Guidance: BA GRA IR.
Yesterday saw 877 stocks rise and 2070 fall on the NYSE. NASDAQ saw 987 rise and 2105 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 10/19/18 close.
EconomicsSeptember New Homes Sales are due out at 10:00 a.m. EDT and are expected to fall to 625,000 from 629,000.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT. API released yesterday at 4:30 p.m. EDT and showed a build.
The latest NYSE and NASDAQ Short Interest Data is due out after the close and covers the period from September 26th through October 11th. During that period, the S&P 500 fell -6.11%. It is likely that shorts added to positions.
Federal Reserve Cleveland President Loretta Mester speaks at 12:30 p.m. EDT.
Federal Reserve Atlanta President Raphael Bostic speaks at 10:00 a.m. EDT and again at 2:00 p.m. EDT.
Federal Reserve St. Louis President James Bullard to speak at 11:30 a.m. EDT
Conference & Analyst MeetingsMeetings, Conference Calls or Announcements of note, HLG HPE.
Conference of NoteAmerican College of Rheumotology Annual Meeting.
M & A News
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