Futures Lower For The First Day of June

by Geoff Garbacz | 06/01/2016 08:34 AM
Futures Lower For The First Day of June

In After Hours Trading

4 IPOs on deck this week. Secondaries up today FRC.In After Hours Trading: ASNA +.02 NCS +.03 TIVO -.04 WDAY +.07 ZOES +.02.

Lower Guidance: ASNA.

Mixed Guidance: .

Positive Guidance: WDAY.

What's Happening This MorningU.S. futures: S&P -6.75, Dow Jones -61, NDX -11.75 and Russell 2000 -2.20 with fair value lower. Asia and Europe lower.Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 1.82% yield -1, one month change +0 and -34 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Utilities, Technology and Healthcare.

Weak Sectors Conglomerates, Basic Materials and Financials.

One month winners Technology and Healthcare.

Three Month Winners Basic Materials.

Six Month Winners Utilities, Industrial Goods and Basic Materials.

One Year Winners Utilities, Technology and Industrial Goods.

Year To Date Utilities, Basic Materials, Industrial Goods and Consumer Goods.

Earnings ExpectedEarnings due after the close (by avg. trade volume): CTRP WUBA GWRE VRNT OLLI SMTC ALOG .Due Thursday morning (by avg. trade volume descending): CNQ DCI CIEN JOY AMWD NAV CONN.

Rags & Mags: Inside Wall StreetBloomberg: OECD warns that global economy slipping into a "low growth trap". OPEC oil ministers are happy with the direction the oil market is moving. British Poll shows exit back on top with its citizens.

Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ATHM +.13 GIII +.03 LE -.15 SCWX +.06.Lower Guidance: ATHM.

Current Morning missing: .

Mixed Guidance: GIII KORS.

Data Points

Yesterday saw 1651 stocks rise and 1393 fall on the NYSE. NASDAQ saw 1592 rise and 1250 fall.

The SP 500 is back above its 50 day exponential moving average and is still above 200 day exponential moving average. The Russell 2000 is back 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. The Madison Market Timing Indicator is still invested.

YTD 3880 stocks are higher for 2016 and 2748 are lower. Updated 5/6/16 close.


April Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.6% from 0.3%.May ISM Manufacturing PMI is due out at 10:00 a.m. EDT and is expected to fall to 50.5% from 50.80%.

The OECD issued its latest economic outlook and warned of a potential recession.


Federal Reserve Beige Book will be released at 2:00 p.m. EDT.

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