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Market Matters:

Futures On The Rebound This Morning After Ugly Monday
by Geoff Garbacz & Staff Writers

October 30, 2018

In After Hours Trading


IPOs on deck none of note. Secondaries of note CMTA.

Filings after close none of note.

data courtesy of IPO Financial

In After Hours Trading: 

SURPRISES:  RE +1.10 CACC +.58 OLN +.41 CHE +.27 KLAC +.25 RIG +.16 AKAM +.11 CNX +.08 CLR +.08 (LOOKING ABOVE +.08)

MISSED: CYH -.62 RMBS -.23 TXRH -.14 NLS -.02.

Lower Guidance: CGNX.

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning


U.S. futures: S&P +17 Dow Jones +116, NDX +14 and Russell 2000 +2.50 with fair values LOWER helping open. Asia higher  and Europe lower.

Gold, silver and copper lower. 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 118.70 with yields higher since Friday. Prices as of 8:15 a.m. EDT.

Top Sectors Utilities and Financials.

Weak Sectors Industrials, Materials and Technology.

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):  FB AMGN TMUS BIDU PSA APC EA EBAY CXO BXP FLT MXIM MGM CHRW YUMC.

Earnings due Wednesday morning: SNY ANTM ADP GM EXC ICE EL YUM K S CLX HES AEE GRMN TAP.

Rags & Mags: Inside Wall Street


General Electric (GE) lowers dividend and SEC expands accounting investigation. (CNBC)

Amazon (AMZN) shares lose 6% yesterday and 23% in the month. (CNBC)

Is a Democratic Wave coming in Mid Terms? (USA Today)

Walmart (WMT) shoppers can bypass checkout line. (USA Today)

The U.S. blocks sales from U.S. tech companies to Chinese company Fujian Jinhua Integrated Circuit, a manufacturer of semiconductors. (NYT)

China sets the Yuan at lowest level in a decade. (WSJ)

Reported Earnings This Morning

Reported This Morning: 

SURPRISES HMC +1.01 SNE +32.24 CMI +.28 AGN +.21 AET +.15  UAA+.13 LL +.10.

MISSES: BTU -.43 FDP -.13 GE -.06 MAS -.05 INCY -.02.

Missing: .

Lower Guidance:.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points


Yesterday saw 1247 stocks rise and 1688 fall on the NYSE. NASDAQ saw 1263 rise and 1833 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 35% of stocks are higher and 65% are lower. Updated 10/26/18 close.

Economics


October Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 135.9 from 138.4

Politico

President Trump pushes his idea of Executive Order to eliminate birth right on U.S. soil.

Conference & Analyst Meetings


Meetings, Conference Calls or Announcements of note,  KR GSL HIBB AAPL KEY ENS.

Dawson James Small Cap Conference.

Gabelli Automotive Aftermarket Conference.

Conference of Note


Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan JBLU NVDA LUV UAL
Goldman Sachs
Morgan Stanley SNH
Deutsche Bank
Citigroup CC Merrill Lynchp WFT
Merrill Lynch XPO ODFL GPC
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Deutsche Bank
Piper Jaffray
Jefferies
Stifel
Needham
Raymond James
Stephens
Loop Capital
Nomura
Moffet Nathanson
Robert W. Baird
Cowen
Sun Trust RH AKAM
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

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