Futures Flat As We Head Into Tuesday Trading

In After Hours Trading

7 IPOs on deck this week. Secondaries On Deck this morning none of note. We expected deal flow to ramp up and it has.In After Hours Trading: none of note.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +1, Dow Jones +16, NDX +5 and Russell 2000 +1 with fair value higher creating a flat open. Asia and Europe higher.Copper, silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 1.61% yield, one month change +1 and -38 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors None of note.

Weak Sectors Utilities and Financials led to the downside.

One month winners Utilities, Energy, Materials and Technology.

Three Month Winners Technology, Healthcare, Financials and Consumer Goods.

Six Month Winners Technology, Energy, Materials, Utilities and Industrial Goods.

One Year Winners Utilities, Technology and Industrial Goods.

Year To Date Utilities, Energy, Materials, Industrial Goods, Technology and Consumer Goods.

Earnings Expected

Earnings due after the close (by avg. trade volume): MU.Due Wednesday morning (by avg. trade volume descending): ATYI STZ GPN MON.

Rags & Mags: Inside Wall Street

Bloomberg: The British Pound hit a three year low. The Vice Presidential debate is front and center tonight. PIMCO notes too many investors are getting hedges wrong.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): DRI +.06.Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: DRI.

Data Points

Yesterday saw 1246 stocks rise and 1726 fall on the NYSE. NASDAQ saw 1181 rise and 1653 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 above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to cash as of the close on September 14th. The Madison Market Timing Indicator is now in cash as of July 8th.

YTD 4542 stocks are higher for 2016 and 2011 are lower. Updated 8/19/16 close.

Economics

None of note.

Politico

Federal Reserve Chicago President Charles Evans speaks from New Zealand, as will Federal Reserve Richmond President Jeffrey Lacker at 8:05 a.m. EDT. On Tuesday the Vice Presidential debate take place in Virginia.

Conference & Analyst Meetings

Meetings or announcements of note,CRM ACLS AEGN EVHConference of NoteDreanforce 2016 which is Salesforce's (CRM) big annual event.

M & A News

Rumors surfaced that Walt Disney Inc (DIS) may bid for Netflix (NFLX).