The Day Ahead & News From After The Close For June 2nd
In After Hours Trading
IPOs on deck Sensus Healthcare (SRTSU). Secondaries up today ADPT CBPO MPSX.In After Hours Trading: AMBA +.06 AVGO +.15 COO +.13 ZUMZ +.03.
Lower Guidance: AMBA ZUMZ.
Mixed Guidance: .
Positive Guidance: COO.
What's Happening This Morning
U.S. futures: S&P +0.75, Dow Jones +14, NDX -1.50 and Russell 2000 +1.10 with fair value lower. Asia higher and Europe higher.Copper, silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is flat vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 1.79% yield -4, one month change 0 and -57 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Healthcare and Services.
Weak Sectors Conglomerates.
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 due after the close (by avg. trade volume): none of note.Due Monday morning (by avg. trade volume descending): CVGW XCRA.
Rags & Mags: Inside Wall Street
Bloomberg: U.S. Treasury Secretary Jack Lew is critical of China overcapacity into meetings in Beijing next week between the U.S. and China. U.S. grain silos are full.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Yesterday saw 1962 stocks rise and 1036 fall on the NYSE. NASDAQ saw 1750 rise and 1074 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.
May Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to remain at 160,000 with the unemployment rate staying at 5.0%.April Factory Orders are expected to improve to 1.8% from 1.5%.
Federal Reserve Cleveland President Loretta Mester will speak.
Conference & Analyst Meetings
Meetings or announcements of note EXAR WMT NVET RGLD HPQ. Sanford C. Bernstein Strategic Decisions Conference.
Conference of Note
American Society of Clinical Oncology begins today and runs through Tuesday.