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The Day Ahead & News From After The Close September 27th

  • Wall Street Rebel | Geoff Garbacz
  • 09/28/2016 08:14 AM
The Day Ahead & News From After The Close September 27th

In After Hours Trading

IPOs on deck today Fulgent Genetics (FLGT). Secondaries On Deck this morning ARRY FOMX GXP MYOK TSEM VSAR. We expected deal flow to ramp up in the next few weeks and it has.In After Hours Trading: CTAS +.18 LNDC +.92 NKE +.17.

Lower Guidance: .

Mixed Guidance: CTAS LNDC.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -0.25, Dow Jones +6, NDX +2.50 and Russell 2000 -0.50 with fair value lower. Asia mixedr and Europe higher.Copper and silver higher and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 1.57% yield, one month change -6 and -52 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Technology, Services, Healthcare and Industrial Goods.

Weak Sectors Utilities.

One month winners None.

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): PRGS PIR CMTL.Due Monday morning (by avg. trade volume descending): PEP ACN CAG CMN.

Rags & Mags: Inside Wall Street

Bloomberg: OPEC talks in Algiers continue today. Bank of England officials not more easing is needed post Brexit vote. Both ECR Head Mario Draghi and Federal Reserve Chairman Yellen face lawmakers. Wells Fargo CEO Stumpf forfeits $41 million in options to keep job. Consumer Confidence yesterday bucked the trend.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BBRY +.05.Missing: ATU PAYX WOR.

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1748 stocks rise and 1234 fall on the NYSE. NASDAQ saw 1873 rise and 977 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

August Durable Goods are due out at 8:30 am. EDT and are expected to fall 10 -1/9% from 4.4%.Weekly Crude Inventories are due out at 10:30 a.m. EDT.

Politico

Federal Reserve Chairman Yellen testifies before the House on bank supervision and financial market rules. Also on Wednesday Federal Reserve Regional Presidents Kashkari (8:45 a.m. EDT) Bullard (10:00 a.m. EDT), Mester (4:35 p.m. EDT) and George (7:15 p.m. EDT) speak.

Conference & Analyst Meetings

Meetings or announcements of note, MCO CHS GWRE MENT. Deutsche Bank db Access Annual Leveraged Finance Conference. Wolfe Research Power and Gas Leaders Conference. Leerink Partners Roundtable Series: Rare Disease & Immuno-Oncology 2016. Dougherty & Company Institutional Investor Conference.Conference of NoteCouncil of Supply Chain Management Professionals (CSCMP) Conference.

M & A News

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