Futures Fail To Hold Gains

by Geoff Garbacz | 04/12/2017 08:45 AM
Futures Fail To Hold Gains

In After Hours Trading

IPOs on deck today Netshoes (NETS). Secondaries of note COUP NS WVE.

In After Hours Trading: CFNL -.05 HCSG +.01.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -3.25, Dow Jones -13, NDX -6 and Russell 2000 -3. Asia mixed and Europe higher ex the FTSE.Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.30% yield, one day change -5, one month change -28 and +52 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Industrial Goods and Utilities.

Weak Sectors Conglomerates and Technology.

One month winners All ex Healthcare and Financials.

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): DDC PIR DTEA JMBA among the leaders.Due Thursday morning (by avg. trade volume descending): JPM WFC C TSM PNC INFY CBSH FHN.

Rags & Mags: Inside Wall Street

Bloomberg: Oil keeps moving higher. Geopolitical risks on the rise with Syria, Russia, North Korea and China on the docket. U.S. to not label China a currency manipulator. Bank of Canada is out with latest rate policy comments, no change expected.

NY Times: Trump tough talk on Russia leaves heads spinning. Spicer raises outcry on Hitler gas comments. Technology has failed to improve the airline experience.

WSJ: Russia warns Tillerson no more airstrikes on Syria. China tells Trump it wants a peaceful solution to North Korea. Higher yields hurt Chinese corporate bond market. United Airlines (UAL) CEO blows it on apology for dragging passenger off the plane. Daily Mail settles lawsuit with the First Lady.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): MYCC -.04 DAL +.02.Missing: FAST SJR.

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1811 stocks rise and 1110 fall on the NYSE. NASDAQ saw 15825 rise and 1229 fall.

The SP 500 is still above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is below 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. The Madison Market Timing Indicator is now invested since November 18th.

YTD 2662 stocks are higher and 1979 lower. Updated 3/31/17 close.


rude Inventories are due out at 10:30 a.m. EDT.PoliticoIMF Head Christine Lagarde speaks about global economics ahead of the IMF spring meeting.President Trump holds a press conference on NATO at 4:00 p.m. EDT.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, JBLU MOS.

Conference of Note

Oracle HCM World 2017

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