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Analysis for Individual Investors

Futures Positive After Tuesday's Weakness

  • WallStreetRebel.com | Geoff Garbacz
  • 05/31/2017 09:33 AM

Futures Positive After Tuesday's Weakness
In After Hours Trading

IPOs on deck none of note KBL Merger. Secondaries of note ARI STAY JRVR.

In After Hours Trading: PRGI +.06 NX +.06.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +4.50, Dow Jones +33, NDX +20.50 and Russell 2000 +4.50. Asia mixed and Europe higher.Copper lower with silver higher and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.22% yield, one day change +1, one month change -5 and +38 one year change. Prices as of 7:50 a.m. EDT.

Top Sectors s.

Weak Sectors .

One month winners Utilities and Services.

Three Month Winners Consumer Goods, Utilities and Technology.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All except for Energy and Conglomerates.

Earnings Expected

Earnings due after the close (by avg. trade volume): HPE PANW OLLI SMTC among others.Due Wednesday morning (by avg. trade volume descending): DG MBLY DCI CIEN TECD SFUN GIII EXPR CONN among others.

Rags & Mags: Inside Wall Street

Bloomberg: In the United Kingdom, Prime Minister Theresa May's Conservative Party is having trouble. Euro area inflation is below expectations which is causing ECB Head Mario Draghi to push for continued accomodative monetary policy. Meanwhile China shows no signs of slowing down as it PMI grew nicely. Skeptics remain for Bitcoin.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ADI +.19 JILL +.06 KORS +.03 VRA +.04.Missing: .

Lower Guidance: KORS.

Current Morning missing: .

Mixed Guidance: VRA.

Positive Guidance: JILL ADI.

Data Points

Yesterday saw 1122 stocks rise and 1802 fall on the NYSE. NASDAQ saw 1004 rise and 1875 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is back above its 50 day moving exponential average and is above 200 day exponential moving average.

The 10 day spread moving average of breadth is back to cash as of last Friday's close. The Madison Market Timing Indicator is now invested since November 18th.

YTD 2438 stocks are higher and 2215 lower. Updated 5/19/17 close.

Economics

Chicago PMI is due out at 9:45 a.m. EDT and is expected to fall to 57.9 from 58.30.PoliticoFederal Reserve releases its latest Beige Book AT 2:00 A.M. EDT.Federal Reserve San Francisco John Williams speaks at 7:30 p.m. EDT.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, TPIV SCOR. Deutsche Bank Annual Global Financial Services Conference. KeyBanc Capital Markets Industrial, Automotive and Transportation Conference. Cowen & Co Annual Technology, Media and Telecom Conference.Conference of NoteNew Cardiovascular Horizons 18th Annual Conference. Master Limited Partnership Association (MLPA) Investor Conference.

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