Futures Mixed After Lower Overnight
In After Hours Trading
IPOs on deck: Bain Capital Specialty Finance (BCSE), Centrexion Therapeutics (CNTX), Weidai Ltd. (WEI).
Secondaries on deck: AGNC ED EYE HSDT KREF NGHC VICI.
Filings After The Close: CASI (secondaries) (mixed shelf) (shareolder selling) W (convertibles).
Courtesy of IPO Financial
Earnings From After the Close:
Surprises: WUBA +.20 EZPW +.12 VIPS +.11 BPMP +.05 CSCO +.03.
Filings Of Note: Appaloosa starts positions in STT WMB AAPL. Trian Fund starts new position in PPG. Soros new positions in TRCO COTY ADM. Elliott Mgmt new positions in FE NLSN CYH.
What’s Happening This Morning:
U.S. futures: S&P +9.75 Dow Jones +99, NDX +43.25 and Russell 2000 5.30 with fair values HIGHER cutting into gains. Asia higher and Europe mixed.
Gold,silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.86 with yields higher since Tuesday. Prices as of 7:55 a.m. EDT.
Top Sectors Yesterday: Materials.
Weakest Sectors Yesterday: Healthcare, Conglomerates, Financials and Utillities.
One Month Winners Utilities: Conglomerates and Financials.
Three Month Winners: Healthcare and Utilities
Six Month Winners: Healthcare, Utilities and Services
Twelve Month Winners: Healthcare, Services and Conglomerates
Year To Date Winners: Healthcare, Services and Conglomerates
Earnings Ahead: (sorted by Market Cap and only most impactful and notables listed)
Earnings Expected After The Close: NVDA AMAT JWN POST WSM ESL SONO SCVL .
Earnings Due Friday Morning: VIAB HP.
Rags & Mags:
Brexit deal continues to weigh on Britain as Prime Minister Theresa May sees cabinet members resign (WSJ).
Saudi Arabia charges 11 with murder of Jamal Khashoggi and seeks the death penalty for 5 (NY).
Federal Reserve Chairman Jerome Powell noted that there are risks to some slowing in 2019 during a panel discussion last night with Federal Reserve Dallas President Robert Kaplan (Bloomberg).
British Pound falls on Brexit deal and loss of confidence. (CNBC)
White House limits Trade Advisor Peter Navarro as Economic Advisor Larry Kudlow critical of Navarro’s stance on China. (CNBC)
Earnings Reported This Morning:
Surprises: CSIQ +.64 LXFT +.10 SR +.10 WMT +.06 JCP +.04
Misses: DDS -.28 CUB -.18 TK -.11
Yesterday saw 1429 stocks rise and 1444 fall on the NYSE. NASDAQ saw 1539 rise and 1491 fall.
The SP 500 is still below its 50 day simple moving average and remains BACK BELOW its 200 day simple moving average (2762.39). The Russell 2000 is still below its 50 day simple moving exponential average and 200 day simple moving average.
The QPI10 Day Moving Average of breadth is invested and went there on November 8th at 2806.38.
YTD 40% of stocks are higher and 60% are lower. Updated 11/9/18 close with next update on 11/19/18.
Courtesy of Quantitative Partners, Inc and Phil Erlanger Research, Inc.
API Petroleum Data saw Crude Oil Inventories rise +8.79M barrels after the close.
October Retail Sales is due out at 8:30 a.m. EDT and is expected to rise to 0.5% from 0.1%.
Weekly Jobless Claims are due out at 8:30 a.m. EDT.
Weekly Crude Oil Inventories and Natural Gas Inventories are due out at 10:30 a.m. EDT.
Federal Reserve Governor Randal Quarles speaks at 10:00 a.m. EDT.
Conferences & Analyst Meetings:
Analyst Meetings: B ROK LDSR OBE SSNC SEIC BADFF NMIH PFG
Credit Suisse Annual Healthcare Conference
Jefferies Global London Healthcare Conference
Buckingham Best Ideas Conference
Three Part IDEAS COnference
M&A Activity And Credible Rumors of Note Overnight:
None of note.
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